Before it's here, it's on InfoWARE Market Data Terminal; Years of Fundamentals, Analytics and more... MULTIVERSE 9.93  FCMB 8.02  UBN 7.83  JAPAULGOLD 7.41  NGXGROUP 5.88  BUACEMENT 5.43  RTBRISCOE 2.86  WAPIC 2.86  UCAP 2.23  GTCO 1.89  ACADEMY -10.00  NEM -8.91  NEIMETH -8.33  CHAMPION -7.86  CHAMS -7.41  MANSARD -5.88  LIVESTOCK -5.41  JAIZBANK -5.13  VITAFOAM -4.23  LASACO -2.17 
Equity Market Report - 21st September, 2022
(Source: Vetiva Research, Date: 21-Sep-2022)


From the trader's desk...
With losses recorded in a total of 12 stocks - CADBURY
(-545bps), NGXGROUP (-438bps), FBNH (-333bps), and WAPCO (-41bps), market breadth continued its bearish run to close at 0.83x. Consequently, the All-Share index lost 5bps to settle at 49,421.91 points. Meanwhile, in the banking sector, gains recorded in FIDELITYBK (+546bps), STANBIC (+169bps), UBA (+138bps) and ZENITHBANK (+76bps) helped ensure today's 49bps uptick, finishing as the only positive performer. Activity-wise, total traded volume and turnover plunged significantly to close at 51.8m units and ₦590 million respectively. 




What will shape the market tomorrow?
Barring any structured transaction, the market trended quiet with banking stocks dominating activity and we do not anticipate any major deviation in tomorrow's session.

Stocks to Watch

On the bid Cart: UNITYBNK closed limit up to settle at ₦0.44. With the banking counter's
10.00% gain today, YTD loss now at 18.52% YTD.              
                            


On the Offer Cart: With CADBURY's YTD gain at
47.73%, investors took 5.45% profit today. The consumer goods company closed the day at ₦13.00.
                 

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.
By accepting and making use of this report, you agree to be bound by the foregoing limitations.
No portion of this document may be reprinted, sold or redistributed without the written consent of Vetiva Securities Limited.

Additional information on recommended securities/instruments is available on request.
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Vetiva Capital Management Limited · 266b Kofo Abayomi · Victoria Island · Lagos 23401 · Nigeria

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