The month of lockdown ended with the Bulls locking down victory   

29th May, 2020

The ASI ended the last trading session of the month with a positive performance, rising
40bps to 25,267.82 points as  gains in BUACEMENT (+769bps) and DANGCEM (+36bps) reduced the impact of declines in ZENITHBANK (-315bps), GUARANTY (-164bps) and NB (-35bps). However, as against the reduced activity recorded yesterday, total volume and value traded today closed mixed today, as the 6.50% drop in total volume traded had no significant impact on total value traded which rose 30.43%. Similarly, the WTD and MTD performances closed positive at +0.25% and +9.76% respectively, as the trading sessions in the month were largely dominated by the Bulls. In the three day trading session, the Insurance sector emerged as the best performing sector, up by 3.74% WoW, while the Banking sector (-1.93% WoW) topped the laggards table.               

What will shape the market tomorrow? 

The ASI closed the week positive due to price increases in a number of large cap which neutralized the effect of profit taking witnessed in the last two trading sessions. We expect a similar pattern next week as investors continue to take position in some counters while taking profit in others which had gained in recent times.          

Reporting for EasyKobo on Friday , 29 May 2020 in Lagos, Nigeria

Source: Vetiva Capital Management Limited

Copyright @ 2010-2019 by Naija infotech & solar energy ltd. All rights reserved