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Equity Market Report - 18 September, 2020
(Source: Vetiva Research, Date: 18-Sep-2020)
Daily Equity Market Report,
18th September, 2020

From the trader's desk...
Halting its three consecutive sessions of negative returns, the domestic bourse ended the last trading session of the week up by
16bps to 25,572.57 points, thanks to gains in mid/large cap stocks such as DANGSUGAR (+714bps), ACCESS (+157bps) and GUARANTY (+140bps). With a number of investors adopting a more cautious trading strategy, activity levels have been a bit pressured recently, with total volume and value traded declining further by 16.31% and 11.91% respectively, while trades in MTNN, ZENITHBANK and FBNH dominated market turnover for the day. However, with three of the four trading sessions of the week closing in the red, the ASI declined 0.08% WoW, while the YTD performance closed at -4.73%. The Industrial goods sector emerged as the best performing sector for the week, up by 0.50% WoW, while the Oil & Gas sector topped the laggards table, shedding 1.03% WoW.                                 
For a breakdown of stock performances, please see the pricelist.

What will shape the market tomorrow?
The Nigerian equities market saw a week of mixed trading sentiment, with barging hunting activities in two sessions and profit taking in others. With the market breadth returning to the positive territory today (3.33x), coupled with the improvement seen in the Crude oil market, we expect the ASI to start the coming week on a positive note, barring any external shocks capable of depressing investors' sentiment.              
Stocks to Watch
On the Bid Cart: Following the 588bps drop in its market price yesterday, DANGSUGAR recovered in today's session, rising
714bps to close at ₦12.00. Similarly, as against most of its trades which occurred at lower bands yesterday, the counter was positively patronized in today's session, with most of its 5.92mn units traded today going at an average price of ₦11.98.                                        

On the Offer Cart: Contrary to the positive performance recorded by a number of mid/large cap stocks today, the small cap stocks on the other hand traded at the opposite side, with counters such as ABCTRANS (-909bps), CORNERST (-758bps), LASACO (-741bps), CUTIX (-286bps), JAIZBANK (-167bps) and TRANSCORP (-164bps) all closing in the red.
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