Bulls sweep in at the last day of the week, to wish investors a happy weekend!   


30th August, 2019

 

The Nigerian Equities market closed the day higher as the ASI inched up by 37bps to end the week at 27,525.81bps. Gains in GUARANTY (+111bps), MTNN (+155bps) and UNILEVER (+155bps) were sufficient to cover losses in DANGCEM (-31bps) and ZENITHBANK (-471bps). Week on Week, the ASI dropped 0.99% and lost 0.69% over the course of the month. 21 stocks gained today against 17 declines as market breadth settled at 1.24x. The Insurance sector (+1.15%) appreciated the most this week while the Oil & Gas sector (-10.76%) emerged as the top decliner. JOHNHOLT (+19.57%), CONTINSURE (+11.54%) and UNITYBNK (+11.11%) were the top gainers for the week while SEPLAT (-18.84%), UAC-PROP (-17.76%) and INTBREW (-15.22%) declined the most. 

 

What will shape the market tomorrow? 


The ASI closed the week in the red as sell pressure dominated most trading sessions on the back of capital appreciation that was recorded last week. In the absence of any positive catalyst we expect the equities market to remain pressured in the week to come.


Reporting for EasyKobo on Friday , 30 August 2019 in Lagos, Nigeria


Source: Vetiva Capital Management Limited
 





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