On the Bid Cart:  MBENEFIT led the bid cart today, closing limit up (+10.00%) to settle at N0.22 after reporting bottomline growth of 120% y/y for the period. Today's performance erased losses in the prior session (+5% YTD). Though the sector is the best performing on the exchange it has still declined 928bps YTD.

On the Offer Cart: NB led losers today dipping 833bps to close at N55.00, a five-year low. Earnings have been predominantly mixed for the Consumer Goods sector, also, the general sentiment towards the brewery industry is bearish, thus it is not expected that the company's H1'19 earnings will support a recovery. However, a surprise performance could provide respite for the depressed stock. NB has now declined -36% YTD (GUINNESS: -36% YTD; Consumer Goods sector: -24% YTD).

Reporting for EasyKobo on Tuesday , 30 July 2019 in Lagos, Nigeria

Source: Vetiva Capital Management Limited