11th June, 2019

On the Bid Cart: After hitting its one-year low in the previous session, UNILEVER rose 822bps today to settle at N30.95 leading the bid cart. The stock traded with a 3.56x bid/offer ratio at the close of trading. Today's performance is a correction to the downward trend we saw yesterday on the deflated price of the stock. UNILEVER is now trading 34% below its year-high of N47.00, declining 16% YTD.

On the Offer Cart:  The two market heavyweights, DANGCEM and MTNN, shed points today with the former weighing more on the Index. Market leader, DANGCEM, shed 212bps to settle at N185.00 (0.63x bid/offer ratio at market close), while new comer, MTNN, shed 74bps to settle at N135.00. DANGCEM has declined 2.48% YTD and MTNN is now trading at a 50% premium to its listing price of N90.00. 

Reporting for EasyKobo on Tuesday , 11 June 2019 in Lagos, Nigeria

Source: Vetiva Capital Management Limited