Looking ahead to final 5 days of 2019   


Dec 23 (Lagos) - The last five trading sessions of the year are all that is left of 2019. Its been another painful year for long-term investors in Nigerian equity market. This was arguable more difficult year than previous 2 years because we hardly got a break this year. Hopefully 2020 will be opposite of 2019. Let us pray for that during this festive break. 


While we do that let us not forget to look towards what to expect in the last 5 trading sessions of 2019. 


The All stock Index traded below its opening point through out Friday's session with losses in CCNN and OANDO weighing on the Index in the significantly bearish session evidenced by negative market breadth and the down trending intra day chart. Going into the holiday week, analysts at Vetiva Capital Management Ltd in Victoria Island expect activity to reduce further prior to the post holiday portfolio re-balancing period. As such, they foresee a red open to the new week but do not rule out the possibility of bargain hunting on recently deflated counters.


On the Bid Cart: Nigerian Breweries ( NB ) led gainers for the day after rising 9.96%  to settle at N 57.95. The brewery company saw its first price movement in six sessions today cutting its YTD loss to 32% while remaining a member of the worst performing sub-sector on the exchange this year. (GUINNESS :-55% YTD , INTBREW : -69% YTD). 


On the Offer Cart: PZ closed shed 10.00% on Friday to close at N 5.40. The Consumer Goods company nearly reversed gains made in an effort to recover from hitting it's year low of N 5.00. PZ is now trading at a 60% discount to its year high of N 13.45. The FMCG stock has now declined 55% YTD (Consumer Goods: -26% YTD; NESTLE : -12% YTD). 


In the consumer goods UNILEVER gained almost 10% on Friday to continue its recovery after a free fall through out 2019 which saw the stock hitting multi-year lows. CADBURY on the other hand lost almost 10% to give up any gains made during the year. 


2019 will the year to forget for investors but on the other hand it could be the year to remember for those who bought and if these stock rise to much higher levels. That is the only silver lining for those who must see a silver lining. Have a nice festive break. Happy holidays. Whatever you do, do not stress over the bears because it is not worth it and we already did that in most of 2019. 




reporting for easykobo.com on Monday, Dec 23 2019 from Lagos, Nigeria 

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