16th December, 2019

The ASI kick started the new week with a positive performance, rising 60bps in today's session to close higher at 26,695.18bps. The domestic bourse benefited from positive returns in GUINNESS (+983bps), DANGCEM (+143bps) and GUARANTY (+103bps) among others. Similarly, volume traded and market turnover for the day increased 9.77% and 43.21% respectively as trades in the Banking stocks dominated the session while accounting for over 65.00% of the total market turnover. Still on the bullish pattern, a total of 17 stocks gained today while 8 stocks declined, closing market breadth positive at 2.13x.   

What will shape the market tomorrow? 

Trading session at the domestic bourse for the day closed positive with all key metrics such as positive market breadth, strong market activity as well as green sectrorial performances supporting the bullish performance. We however expect the positive performance to filter into tomorrow's trading session though the possibility of profit taking poses a threat. 

Reporting for EasyKobo on Monday , 16 December 2019 in Lagos, Nigeria

Source: Vetiva Capital Management Limited