Before it's here, it's on InfoWARE Market Data Terminal; Years of Fundamentals, Analytics and more... NEWGOLD 21.90  STANBICETF30 10.00  CHAMS 9.09  WAPIC 6.06  NPFMCRFBK 5.33  JAIZBANK 3.66  FCMB 3.08  NGXGROUP 2.13  FBNH 1.82  NAHCO 1.74  NEIMETH -7.97  NB -7.66  CAVERTON -5.68  ETI -5.16  UBN -4.58  STANBIC -4.23  ACCESSCORP -3.53  AIICO -1.82  ROYALEX -1.41  ZENITHBANK -1.36 
Equity Market Report - 26th September, 2022
(Source: Vetiva Research, Date: 26-Sep-2022)


From the trader's desk...
With decent recovery in the large cap industrial goods stock BUACEMENT
(+543bps) propping up the NGX30 and NGXINDUSTR indices by 46bps and 189bps respectively, the equity market halted its 3-day negative run, starting the week with a 39bps gain to settle at 49,218.35 points. Also, the NGXBNK index continued its ascent with advances in names like FCMB (+802bps), UBN (+783bps) and ZENITHBANK (+25bps) ensuring its sixth straight session of positive close. With the other sectoral indices closing in the red, market breadth stayed negative at 0.71x, after losers outnumbered gainers, 17 to 12. Meanwhile, amongst the notable decliners in today's session were in VITAFOAM (-423bps), OANDO (-204bps) and UBA (-137bps). Lastly, total traded volume dropped 29% to close at 119m units, while turnover dipped significantly to print at ₦854 million.    





What will shape the market tomorrow?
Tepid sessions persist as investors continue to trade cautiously in the equity market and we expect similar trading pattern tomorrow as investors await decisions at the MPC meeting currently ongoing.

Stocks to Watch

On the bid Cart: After trading flat most of last week, FCMB started the week on the top gainers chart with a
8.02% appreciation to close at ₦3.50. Meanwhile, the banking counter as returned 17.06% YTD.        
                            


On the Offer Cart: CHAMPION closed the day lower by
7.86%, as investors took profit given its YTD profit of 44.68%. The consumer goods company settled at ₦3.40 today.   
                 

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.
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Vetiva Capital Management Limited · 266b Kofo Abayomi · Victoria Island · Lagos 23401 · Nigeria

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