Daily Equity Market Report,
14th November, 2019
From the trader's desk..
For a breakdown of stock performances, please see the pricelist.
What will shape the market tomorrow?
Today's performance is an indication of improving sentiment buoyed by the new CBN directive restricting local institutions from participating in OMO auction, which clearly favors the Equity market. While we expect some profit taking tomorrow, we are of the opinion that the renewed interest will be sustained for the market to close in the green.
Stocks to Watch
On the Bid Cart: ACCESS continued its upward movement today, rising 964bps to close at its intra-day maximum price of ₦10.80. The counter which has risen over 52.00% in the last 3 weeks remains the only tier one banking stock with a positive YTD return, printing over 58.00% YTD.
On the Offer Cart: IKEJAHOTEL lost part of the gains made yesterday, declining 937bps today to close at ₦0.87. In spite of the bullish trend seen today at the equities market IKEJAHOTEL led CHAMPION (+909bps) and MTNN (+12bps) as the only 3 laggards.