Feb 13 (Lagos) - The
NSE ended today's session in the red as sell off in
MTNN (-333bps) ensured a bearish performance. The index declined marginally by 5bps while closing the day at 27,864.84 bps.
Activity level closed mixed as total volume declined slightly by 1.06% to 150.72m units while total value traded for the day increased by 14.21% to N 2.78bn (vs N 2.44bn recorded in the previous session) as trades in
MTNN ,
FLOURMILL and
ZENITHBANK dominated market turnover.
Market breadth (0.86x) at the domestic bourse continued to linger at the negative zone as 13 gainers emerged against 15 decliners.
What will shape the market tomorrow?
The ASI which traded below its opening point for most part of today's could have closed the day deeper in the red, thanks to the capital appreciation in BUACEMENT (+142bps) and the late recovery in
GUARANTY (+638bps) which cushioned the effect of the significant drop in the second most capitalized stock
MTNN (-333bps).
Having lost twice already in the week and the WTD performance printing -0.72%, the index is set for a bearish WoW performance in the absence of any significant unexpected positive movement in major large cap stocks.
Stocks to Watch
On the Bid Cart: In a relatively quiet and bearish session,
LEARNAFRCA just behind
UCAP (+10.00%) ended the day as the second best performing stock gaining 973bps to close at N 1.24. Further to today's gain, the counter's YTD performance improved to +9.73%.
On the Offer Cart: After gaining c.18.00% in the first two trading sessions of the week,
JAPAULOIL has subsequently experienced some profit taking with the counter dropping 833bps today to close at N 0.22 (vs week high price of N 0.26). The counter's YTD performance however remained positive at 10.00% although lower than the 20.00% recorded yesterday.
reporting for easykobo.com on Thursday, Feb 13 2020 from Lagos, Nigeria
Source - analysts at Vetiva Securities Ltd in Victoria Island.