11 March 2020
On the Bid Cart: UNILEVER just behind FCMB (+993bps), CHAMS (+10.00%) and COURTVILLE (+10.00%) recovered part of the value it lost in recent sessions, gaining 991bps to close fully bidded at N11.65. The consumer goods company was not spared from the recent sell offs at the equities market, dropping to its 5 year low price of N10.60 (March 2018 Peak Price: N64.60) while trading at a 51.82% discount to its year opening price of N22.00. However, following today's gain the company YTD performance improved to -43.72%.
On the Offer Cart: DANGCEM and NESTLE emerged as the top decliners for the day, dropping 10.00% each to settle at N153 and N915.30 respectively. The declines in the heavyweight stocks depressed their respective sectors by 3.42% and 4.74% respectively while settling at their year lows. This is also the first time since June 2017 that Nestle has traded below N1,000.00 (the stock has traded as high as N1617.10 between June 2017 and today).
Reporting for EasyKobo on Wednesday , 11 March 2020 in Lagos, Nigeria
Source: Vetiva Capital Management Limited