NSEASI “ Small win make me happy not, Big win I need”, Bulls: Yes, my lord!   

14th May, 2020

Gains in NESTLE
(+400bps), GUARANTY (+256bps), ZENITHBANK (+199bps) and DANGCEM (+174bps) among others, sustained yesterday's upward movement as the ASI moved higher by +77bps to 23,892.92 points. Similarly, as against the declining activity witnessed in the last three sessions, total volume and value traded saw an upward trend today, rising 14.79% and 51.91% respectively (courtesy of large trades in GUARANTY, NESTLE and ZENITHBANK). Market was largely dominated by crosses as seen in GUARANTY and NESTLE during the session.  Likewise, a total of 18 stocks advanced in today's session, while 14 declined as market breadth closed positive at 1.29x.              

What will shape the market tomorrow? 

In the absence of any negative event capable of depressing market sentiment, we expect today's bullish performance to filter into tomorrow session, though the market remains soft in  face of global challenges as well as weak macro-economic environment.        

Reporting for EasyKobo on Thursday , 14 May 2020 in Lagos, Nigeria

Source: Vetiva Capital Management Limited

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