Stocks to Watch   

16th April, 2020

On the Bid Cart: NESTLE topped the gainers table for the day, advancing 10.00% to close at its intra-day maximum price of N913.20. Investors went all out for the consumer goods heavyweight which opened at a 47.45% discount to its 52 week high price of N1,580.00 due to the persistent sell pressure that had dominated the domestic bourse. However, the significant rise in NESTLE, in conjunction with a 9.98% gain in NB closed the Consumer goods index up by 5.69% while reducing the sector's YTD loss to -37.53% from the -40.89% recorded yesterday. 


On the Offer Cart: Cart: The Banking sector closed as the worst performing sector for day, down by 6.25% as investors took profit on gains made in recent sessions. The negative performance was however due to sell pressure in all Tier 1 banking stocks; ACCESS (-10.00%), ZENITHBANK (-975bps), UBA (-769bps), GUARANTY (-639bps) and FBNH (-619bps).       

Reporting for EasyKobo on Thursday , 16 April 2020 in Lagos, Nigeria

Source: Vetiva Capital Management Limited

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