Investors wake up to a fresh new Monday with the smell of the green win   

29th June, 2020

The Nigerian equities started the new week with a positive performance, rising
12bps to close at 24,858.82 points. The domestic bourse was largely saved by gains in OKOMUOIL (+10.00%) and NESTLE (+473bps) which reduced the effect of losses in UNILEVER (-10.00%), WAPCO (-182bps) and GUARANTY (-154bps) among others. Similarly, activity level again closed mixed as total volume and value traded settled at opposite directions, with total volume traded increasing 24.57% while total value traded declined by 24.08%, with trades in GUARANTY, NESTLE and MTNN dominating market turnover. However, market breadth closed negative at 0.62x as 18 stocks closed higher while 29 stocks closed under.                   


What will shape the market tomorrow? 

Though today's session ended positive, it was however noted that the index traded south for most part of the session, as investors' sentiment remained weak in the face of persistent global uncertainties. We anticipate a mixed trading session tomorrow, with continued sell offs in some counters, and bargain hunting in others due to recent declines.   

Reporting for EasyKobo on Monday ,29 June 2020 in Lagos, Nigeria

Source: Vetiva Capital Management Limited         

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