25th March, 2020

On the Bid Cart: After recording significant declines in the last two sessions, investors rallied around a number of the Tier 1 banking names such as UBA (+909bps), ZENITHBANK (+731bps), FBNH (+256bps) and GUARANTY (+118bps), closing the Banking index up by 2.94%, as investors' took advantage of low prices in the region. 

On the Offer Cart: TOTAL was negatively patronized in today's session, closing lower at N96.30 (10.00% below its opening price). The counter now trades at its lowest price in five years and c.61.00% above its historical low price of N59.47 (a price last traded on the 31st of May, 2002). The counter has however been defensive in the face of the persistent sell pressure, dipping just 13.17% below its opening price N110.90 (as against other counter with avg losses of -25.00%).   

Reporting for EasyKobo on Wednesday , 25 March 2020 in Lagos, Nigeria

Source: Vetiva Capital Management Limited