Bulls pull our the big guns to shoot the vicious bear, as in the end the hero always wins!   


29th November, 2019


The Nigerian equities Market ended the last trading session of the week and in the month of November with a positive performance, with the ASI gaining 66bps to close higher at 27,002.15bps. Among others, the counters responsible for today's upward movement include but not limited to CCNN (+526bps), NESTLE (+385bps), MTNN (+169bps) and GUARNTY (+133bps). In addition, total value traded increased to N3.66BN (112.79% higher than the N1.72bn traded yesterday) as large cap stocks experienced investor’s patronage. The WTD (+0.04%) performance came in positive as gains made in 3 different sessions outweighed losses made in the other 2 sessions marginally, while the index closed up +2.44% in November. 


What will shape the market tomorrow? 


The ASI was up 0.04% for the week, thanks to the positive WoW performances in the Consumer Goods and Industrial sectors. We expect the equities market to continue to benefit positively from the restriction placed by the CBN on local investors in the fixed income(OMO) space, as prices and dividend yields remain attractive in the equities market. 


Reporting for EasyKobo on Friday , 29 November 2019 in Lagos, Nigeria


Source: Vetiva Capital Management Limited

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