24 July 2019 : Bears returned to the Nigerian bourse today declining 20bps after a session of predominantly positive trading. The ASI traded in the green till the last 15-minutes of trading when a decline in DANGCEM (-57bps) weighed on the index dragging it under water. Market activity improved slightly with volume and value traded rising 17% and 21% d/d respectively. Market breadth was even today with 16 advances and 16 declines. 

What will shape the market tomorrow? 

Given the positive bearing of the index in today's session, trading was predominantly bullish. As such, we expect a session of mixed trading tomorrow, albeit with a positive bias, in the absence of a market shifting occurrence on the exchange such as the dip in DANGCEM we observed today. We highlight that prices across the board present an attractive entry point for investors and emphasize the possibility of profit taking on the exchange tomorrow. 

Reporting for EasyKobo on Wednesday , 24 July 2019 in Lagos, Nigeria

Source: Vetiva Capital Management Limited