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Equity Market Report - 08 October, 2020
(Source: Vetiva Research, Date: 08-Oct-2020)
Daily Equity Market Report,
8th October, 2020


From the trader's desk...
Despite the gains in UNILEVER
(+976bps), GUARANTY (+323bps), ZENITHBANK (+281bps) and AIRTELAFRI (+250bps), the domestic bourse could not return to the positive territory, shedding 31bps to close at 28,546.22 points, due to declines in large cap stocks such as NB (-707bps), DANGCEM (-475bps) and BUACEMENT (-84bps). Similarly, as against the significant boost witnessed in the last few sessions, activity levels for the day closed lower as total volume and vale traded slipped 31.71% and 48.50% respectively, while ZENITHBANK, GUARANTY and ACCESS emerged as the most traded stocks by value. However, as against the 0.68x recorded yesterday, investors' confidence as measured by the market closed positive at 1.53x, with a total of 26 stocks closing higher while 17 stocks closed lower.                                             
  
For a breakdown of stock performances, please see the pricelist.



What will shape the market tomorrow?
The ASI maintained yesterday's downward movement amidst continued profit taking action in the Industrial good (-272bps), Consumer goods (-130bps) and the Oil & Gas (-53bps) sectors. Barring significant declines in large cap stocks tomorrow as witnessed today, we expect the market to return to the positive region tomorrow, on the back of the improved market breadth (1.53x).                             
                              
Stocks to Watch
On the Bid Cart: Following the significant drop in prices of a number of banking stocks yesterday, investors' revisited the sector taking advantage of yesterday's declines, leading to positive close in ETI
(+854bps), ACCESS (+464bps), GUARANTY (+323bps), ZENITHBANK (+281bps), FBNH (+161bps) and UBA (+73bps).                                                    



On the Offer Cart: The Industrial goods, Consumer goods and Oil & Gas sectors closed the day in the red, shedding 2.72%, 1.30% and 0.53% respectively due to declines in DANGCEM (-475bps) & BUACEMENT (-84bps); NB (-707bps) & INTBREW (-151bps) and CONOIL (-557bps) & ARDOVA (-273bps).  
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