17th May 2019

MTNN remained the toast of the Nigerian Stock Exchange, boosting the All Share Index today by 153bps. MTN's listing buoyed the market to an 8bps gain for the week. Despite three of four key sectors closing in the red, the market closed well in the green. Market activity increased (turnover: +95% d/d - highest turnover in 29 sessions) with MTNN accounting for 64% of the turnover for the day. Excluding MTNN, market sentiment was mixed evidenced by even market breadth (14 advances vs. 14 declines).

What will shape the market tomorrow? 

MTNN remains the sole market catalyst, driving market to its highest gain since the 12th of February, 2019. We expect market to close positive at week open as the index continues to rally on the back of the new listing. 

Reporting for EasyKobo on Friday , 17 May 2019 in Lagos, Nigeria

Source: Vetiva Capital Management Limited