24th March, 2020

On the Bid Cart: STANBIC trailed NPFMCRFBK (+952bps) as the second best performing stock, closing higher by 943bps to close at N26.10. Today's positive performance was spurred by buying interest in the counter which was negatively patronized in yesterday's session (closing at its three year low price of N23.85). Just like other stocks at the local bourse, STANBIC has been significantly sold off during the year, dropping over 19.00% MTD and 36.00% YTD.           

On the Offer Cart: CAVERTON led the other 9 decliners for the day, dipping 10.00% to close the day at N2.25. However, as opposed to the sell pressure seen in most counters recently, the counter gained over 20.00% in the last seven sessions, thus leading to profit taking in today's session. Following the negative performance recorded today, its YTD performance worsened from the -6.37% recorded yesterday to -15.73%.   

Reporting for EasyKobo on Tuesday , 24 March 2020 in Lagos, Nigeria

Source: Vetiva Capital Management Limited