Equity Market Report   

14th May 2019

The broad index of the Nigerian Stock Exchange extended losses today (-19bps) after a last minute decline in NESTLE erased earlier session gains and pushed the ASI into the red. The Banking (129bps) sector was the toast of today's session despite the overall negative close as the positive showing of the sector reduced the negative performance of the index. Meanwhile, the Consumer Goods and Industrial Goods sectors closed in the red even as activity levels remained average (volume: -7% d/d; turnover: -3% d/d).

What will shape the market tomorrow? 

Save for the performance of NESTLE, sentiment was generally positive today (positive market breadth - 20 advances vs. 17 declines) and market would have closed in green, hence barring any surprise outings by heavyweight stocks, analysts expect to see a neutral to positive performance  with mixed sentiment being the general tone.

Reporting for EasyKobo on Tuesday , 14 May 2019 in Lagos, Nigeria

Source: Vetiva Capital Management Limited

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