15th May 2019 

On the Bid Cart: UACN gained 342bps today to settle at N 7.55, leading the bid cart (2.95x bid/offer ratio at the close of trading). The stock has rallied 12% in the last five sessions after volatile price movements since the beginning of the month of May. UACN hit its five year low of N 6.30 towards the end of April and has recovered 20% since then. DANGSUGAR is also worthy of note, the stock gained 184bps to settle at N 13.85 today.

On the Offer Cart: Dragging the Industrial Goods sector (-231bps), CCNN led the offer cart. The stock shed 915bps to settle at N 13.90, its lowest traded price since January 2018. CCNN traded as high as N 26.90 at the beginning of the year and has lost 48% since then. FO also weighed on the offer cart today, dipping 987bps to settle at N31.50, as a result of profit taking on gains seen through the end of April (the stock gained 45% from year low of N 24.30 to N 35.30. The Oil & Gas sector shed 100bps today as a result of FO's performance.

Reporting for EasyKobo on Wednesday , 15 May 2019 in Lagos, Nigeria

Source: Vetiva Capital Management Limited