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Equity Market Report - 24th June, 2022
(Source: Vetiva Research, Date: 24-Jun-2022)


From the trader's desk...
With just the Banking sector closing in the green and 12 equites advancing against 18 decliners, the equity market gained
17bps driven by gains in large cap names BUAFOODS (+397bps) and MTNN (+26bps). In the Consumer Goods space, advances in counters like CHAMPION (+10.00%), MAYBAKER (+847bps), and INTBREW (+526bps) helped ensure the market's green close, however losses in NB (-400bps), PZ (-385bps) and DANGSUGAR (-93bps) saw the sector ease 56bps. Despite the last three sessions of positive activity, only the Banking and Oil & Gas sectors closed the week in the green, as market's WTD return dipped 14bps. Meanwhile, activity level declined today, with volume and turnover plunging 30% and 35% to 156m units and ₦1.8 billion respectively.
                        
For a breakdown of stock performances, please see the pricelist.



What will shape the market tomorrow?
This week's trading pattern was mixed as we saw days of declines followed by positive activity. We anticipate similar trade pattern next week with minimal activity as investors continue to cherry pick attractive counters across board.

Stocks to Watch

On the bid Cart: CHAMPION closed up
10.00% today after trading flat at ₦3.40 since June 15th, improving YTD return to 59.15%. The brewery company also recorded increased trade volume of 1.46m units compared to the 3,823 units in prior session.  



On the Offer Cart: FCMB yielded to the sell pressure after trading flat at ₦3.50 since June 10th. The banking stock lost
5.71% to close at ₦3.30, moderating YTD gain to 10.37%.

Equity Dealing Desk
Vetiva Securities Limited
Plot 266B, Kofo Abayomi Street
P. O. Box 73530 Victoria Island
Lagos, NIGERIA
Tel: +234-1-4617521-3, 2700657-8; Fax: +234-1-4617524. 
Website:
www.vetiva.com 

Disclaimer
This report is based on public information which the analyst(s) consider credible and reliable. Whilst reasonable care has been taken in preparing this report, no responsibility or liability is accepted either by Vetiva Securities Limited and its affiliates (...Vetiva" ), its officers or any of its employees for any error of fact or opinion expressed herein. No reliance should be placed on the accuracy, fairness or completeness of the information contained in this report as it has not been verified by the analyst(s) involved or the companies whose securities have been referred to, except as otherwise disclosed. Neither Vetiva nor any of its officers or employees including the writer(s) warrant or represent the accuracy or completeness of information set out in this report.
Any ratings, forecasts, estimates and opinions set forth in this report constitute the analyst(s)' position as at the date and time of this report and may not necessarily be so after the report date and time, as they are subject to change without notice. It is also instructive to note that a company's past performance is not necessarily indicative of its future performance as estimates are based on assumptions that may or may not be realized. The value, price or income from investments mentioned in this report may fall, as well as rise, due to economic conditions, industry cycles, market indices, operational or financial conditions of companies or other factors. Thus, Vetiva and its officers and employees shall not accept liability for any loss arising from the use of this report or its contents in making investment decisions or recommendations.
This report provides general information only. It is not intended to provide personal investment advice and does not take into account the specific investment objectives, financial situation and the particular needs of any specific person.  Investments and securities discussed in this report may not be suitable for all investors and certain investors may not be eligible to purchase or participate in some or all of them. Users of this report should independently determine the suitability and evaluate the investment risks associated with investments and securities discussed in this report. All investors are solely responsible for their investment decisions. Any decision to purchase or subscribe for securities in any offering must be based solely on existing public information on such security or the information in the prospectus or other offering document issued in connection with such offering, and not on this report. Vetiva, through other business units may have issued and may in the future issue trading ideas or recommendations that are inconsistent with, and reach different conclusions from, the information presented in this report. Such ideas or recommendations reflect the different time frames, assumptions, views and analytical methods of the persons who prepared them, and Vetiva is under no obligation to ensure that such other trading ideas or recommendations are brought to the attention of any recipient of this report. Vetiva may make investment decisions or take proprietary positions that are inconsistent with the recommendations or views in this report. To the extent that this report discusses any legal proceeding or issue, it has not been prepared as nor is it intended to express any legal conclusion, opinion or advice. Information relating to the tax status of companies whose securities are discussed in this report is not intended to provide tax advice or to be used by anyone to provide tax advice.
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