Bulls stop Bears from making a hat-trick   

23rd January, 2020

The equities market ended today's session in the green as the ASI gained 45bps to settle at 29,591.29bps halting its 2 sessions losing streak. The positive d/d performance came on the back of late recoveries in BUACEMENT (+216bps), SEPLAT (+204bps) and DANGCEM (+122bps), though profit taking were recorded in UBA (-114bps), MTNN (-94bps) and GUARANTY (-31bps). Activity level indicated by volume and value traded continued to trade in opposite directions as total volume diminished by 37.62% while value traded increased by 111.85%. SEPLAT, MTNN and GUARANTY were the most traded stocks by value, accounting for 81.76% of total turnover. Market breadth for the day closed flat as 14 gainers and decliners emerged.

What will shape the market tomorrow? 

All sectors closed bullish today except for the Insurance sector that was negatively affected by the 8.33% loss reported by LINKASURE. Having traded even so far this week (two sessions of gains and declines), we expect the WoW performance to be largely determined by tomorrow's outcome.

Reporting for EasyKobo on Thursday , 23 January 2020 in Lagos, Nigeria

Source: Vetiva Capital Management Limited

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