07 April 2020

On the Bid Cart: The Banking sector once again enjoyed positive investor's patronage amid undervaluation in the sector. Following the buying interest seen in all the Tier one banking stocks, led by ACCESS (+992bps), GUARANTY (+142bps), FBNH (+127bps), ZENITHBANK (+126bps) and UBA (+101bps), the Banking index closed up by 2.61% while reducing its YTD loss to -32.58% as against the -34.29% recorded on Friday.     

On the Offer Cart: SEPLAT closed among the top laggards for the day, down by 999bps to settle at its intra-day limit low price of N490.10. The upstream Oil & Gas company has been relatively pressured in recent times (owning to its positive correlation with the Crude oil prices), trading c.19.00% below its 52 week high price of N605.00 while posting a YTD loss of -17.23% (MOBIL: +8.70%; TOTAL: -13.17%; OANDO: -44.86%; NSEOILGAS: -21.63% YTD).   

Reporting for EasyKobo on Friday , 07 April 2020 in Lagos, Nigeria

Source: Vetiva Capital Management Limited