Daily Equity Market Report,
8th November, 2019
From the trader's desk..
For a breakdown of stock performances, please see the pricelist.
What will shape the market tomorrow?
With sentiment around banking stocks remaining strong this week, we foresee further investor interest in select names at the start of next week. However, this positive sentiment may not filter into the rest of the market, as other key sectors continue to under-perform.
Stocks to Watch
On the Bid Cart: Tier one banking stocks dominated market gainers for the day as ACCESS (+952bps), FBNH (+741bps), GUARANTY (+593bps), UBA (+394bps) and ZENITH (+88bps) experienced renewed buying interest. The consecutive capital appreciations in the banking names ensured the Banking index (+8.51%) closed higher for the week.
On the Offer Cart: UNILEVER once again led other decliners for the day, closing as the worst performing stock with a 947bps decline to settle at Ã¢â€šÂ¦19.60. The consumer goods stock experienced massive sell-offs during the week, shedding over 26.00% WTD while closing the week at its lowest price in 5 years. The negative trend can however be linked to the unimpressive Q3'19 result declared by the company.