ASI "cemented" its victory on the first day of the July by waving the green flag   


1st July, 2020

The Nigerian equities market started the new month with a positive performance, reversing yesterday's downward movement to close the session up by
47bps to 24,594.99 points. The index was saved by the significant capital appreciation in BUACEMENT (+853bps) coupled with the buying interest in WAPCO (+500bps). However, contrary to the significant spike we saw in activity level yesterday, transaction size slowed today, as total volume and value traded decreased by 29.45% and 66.98% respectively, while market breadth again remained at the negative side, closing at 0.55x (12 gainers against 22 decliners).                   

           

What will shape the market tomorrow? 


Isolating the significant rise in BUACEMENT, the domestic bourse would have settled in the red as a number of mid/large cap stocks again took massive blow. We expect a mixed trading session tomorrow, with bargain hunting in some counters and continued sell pressure in others.           


Reporting for EasyKobo on Wednesday ,01 July 2020 in Lagos, Nigeria


Source: Vetiva Capital Management Limited

 

     

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