Fresh out of the ICU, the Bulls are ready to attack again, filled with vengeance   

8th June, 2020

Contrary to the bearish performance recorded at the latter part of the previous week, the Nigerian equities market started the new week on a positive note, rising
93bps to close at 25,250.20 points. The index rode on the back of gains in bellwether stocks such as BUACEMENT (+375bps), MTNN (+172bps), NB (+119bps) and GUARANTY (+84bps) among others. However, activity level closed mixed as total volume rose slightly by 7.45% while value traded declined by 13.86%, despite trades in GUARANTY, ZENITHBANK and FBNH dominating total market turnover. A total of 31 stocks closed higher today, against 11 stocks which closed south as market breadth settled positive at 2.82x.               

What will shape the market tomorrow? 

The domestic bourse reacted positively to the optimism around the crude Oil market as well as improving global indicators. In the absence of any external shocks, we expect the market to trade in similar pattern tomorrow, though the possibility of profit taking cannot be overruled.   

Reporting for EasyKobo on Monday , 08 June 2020 in Lagos, Nigeria

Source: Vetiva Capital Management Limited


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