20th May 2019

On the Bid Cart: FCMB led the bid cart today rising 710bps to settle at N 1.66. The stock hit its year-low of N 1.55 to close out last week. Today's gain can be attributed to a bargain by investors on attractive entry prices. FCMB has traded as high as N 2.41 this year and is now 31% below this year high. Worthy of mention is the rallying newly listed MTNN which gained 996bps to settle at N 119.75. The stock is still trading on full bid and is now 33% above it's original listing price. 

On the Offer Cart:  FO Led the offer cart for the second consecutive session as investors continue to capitalize on the gains coming into the month of May. The stock shed 988bps to settle at N 25.55 trading on full offer by the end of the trading day. FO has dipped 28% from it's year-high of N 35.30. Worthy of note is ACCESS which shed 465bps today to settle at N 6.15.

Reporting for EasyKobo on Monday , 20 May 2019 in Lagos, Nigeria

Source: Vetiva Capital Management Limited