What will shape the market this week?   

Nov 22 (Lagos) - Contrary to the significant buying activities witnessed in the previous weeks, the local market was largely dominated by the Bears during the week, as profit taking action in major big names led the market south in four of the five trading sessions of the week. 

Analysts at Vetiva Securities Ltd in Victoria Island expect a bit of stability in the coming week as investors continue to take position in attractive counters while taking profit in others. 

Stocks to Watch

On the Bid Cart: As against the previous sessions where the small cap stocks were negatively patronized, there was a reversal of this in today's session as a number of small cap stocks like IKEJAHOTEL (+10.00%), LINKASSURE (+10.00%), TRIPPLEG (+10.00%), NEM (+979bps),  AIICO (+978bps), UPDCREIT (+921bps), CORNERST (+690bps), NAHCO (+550bps), NPFMCRFBK (+438bps), CHAMS (+400bps), LIVESTOCK (+370bps), ACADEMY (+333bps), ABCTRANS (+286bps) and FCMB (+33bps) all closed in the green. 

On the Offer Cart: The equities market closed the last trading session of the week south, on the back of the significant downward movement in a number of mid/large cap stocks such as ETI (-863bps), FBNH (-523bps), BUACEMENT (-455bps), CADBURY (-365bps), UNILEVER (-345bps), DANGSUGAR (-330bps), UBA (-296bps), WAPCO (-239bps), ZENITHBANK (-173bps), MTNN (-129bps), GUARANTY (-126bps), ACCESS (-115bps), DANGCEM (-92bps) and GUINNESS (-50bps).  

The Banking sector emerged as the worst performing sector for the week, down by 5.98% WoW, trailed by the Oil & Gas (-4.38% WoW), Consumer goods (-4.29% WoW) and Industrial goods (-0.66% WoW) sectors.   

reporting for easykobo.com on Sunday, Nov 22 2020 from Lagos, Nigeria
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