From the trader's desk...
With flat closes in the NGX30, consumer goods and oil & gas indices, the first trading session of the week started off with a marginal gain of 4bps, as positive activities were recorded in a total of 10 counters and the notable ones being in FBNH (+185bps), ZENITHBANK (+158ps), FIDELITYBK (+96bps) and WAPCO (+69bps). Meanwhile, market breadth closed negative at 0.83x, after the session ended with a total of 12 losers. Lastly, starting the week was a turnover size of ₦2.5 billion, a 120% improvement from Friday's data, with the total trades in ACCESSCORP (120.9m units) accounting for 41% of the turnover, while traded volume also jumped 135% to close at 236m units.
 

What will shape the market tomorrow?
It was another positive session for the banking sector, as bargain hunting continued in that space, while dominating market activity. Barring any large volume trades tomorrow, we expect a quiet session.
 
Stocks to Watch
On the bid Cart: JAIZBANK closed the day with YTD return at 69.64%. The banking counter closed up 9.20% today to settle at ₦0.95. 5 kobo away from its year-high price of ₦1.00.
                                                 


On the Offer Cart: It was a bearish session for the insurance sector, closing the day as the only negative performer, as the likes of ROYALEX (-9.88%) and MANSARD (-4.52%) finished on the top losers chart. Meanwhile, the NGXINS lost 0.61% today.



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