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Equity Market Report - 05 August, 2020
(Source: Vetiva Research, Date: 05-Aug-2020)
Daily Equity Market Report,
5th August, 2020

From the trader's desk...
The domestic bourse recorded its forth consecutive sessions of capital appreciation, after the ASI advanced by
16bps to close the day at 24,882.04 points, riding on the back of gains in GUARANTY (+194bps), PRESCO (+116bps) and MOBIL (+92bps). Still on the bullish trend, activity level also saw an improvement, with volume and value traded for the day rising significantly by 96.34% and 135.51% respectively, while PRESCO, ZENITHBANK and ACCESS emerged as the most traded stocks by value. A total of 18 stocks closed in the green today as against 12 which closed in the red, keeping the market breadth in the positive territory at 1.50x.      
For a breakdown of stock performances, please see the pricelist.

What will shape the market tomorrow?
Though the market posted another positive d/d performance (thanks to marginal gains recorded across four of the five major sectors), we however anticipate a session filled with profit taking tomorrow, taking a cue from the declining market breadth, almost flat sectoral performances and the ASI trading at the overbought region of the 14 day RSI.                  
Stocks to Watch
On the Bid Cart: CAP emerged as the best performing stock for the day, appreciating by
974bps to close at ₦16.90. Today's movement resulted from bargain hunting in the counter which closed as the worst performing stock yesterday, as investors took advantage of the cheap valuation. Following today's movement, its YTD return improved to -29.58% from the -35.83% posted yesterday.          

On the Offer Cart: ETERNA ended today's session as the worst performing stock for the day, shedding 900bps to settle at ₦1.82. The stock traded about 2.10m units with most of the trades happening at the offer side. With today's 9.00% drop in its share price, its YTD return worsened to -49.44%.   

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