Daily Equity Market Report,
6th December, 2019
From the trader's desk..
For a breakdown of stock performances, please see the pricelist.
What will shape the market tomorrow?
Having failed to record any positive return in the week while most bellwether stocks lost some portions of their market value, we expect trading sessions at the domestic market next week to be filled with bargain hunting as investors seek to position in fundamentally sound stocks that declined this week.
Stocks to Watch
On the Bid Cart: UACN once again closed the day as one of the top gainers, rising 683bps to close at its highest price in nine month (₦8.60). Initial selloffs at the beginning of the week however limited the impact of the consecutive upward movement recorded at the last two trading sessions of the week, leading to a 7.50% gain WoW while having its YTD performance pegged at -11.79%.
On the Offer Cart: Trading session today was dominated by sell offs as large cap stocks such as UBA (-290bps), MTNN (-84bps), GUARANTY (-66bps), ZENITHBANK (-53bps) and DANGCEM (-21bps) closed the last trading session of the week at the negative side.