What will shape the market next week?   

April 11 (Lagos) - The Nigerian bourse ended the week on a positive note, climbing 17bps higher to settle at 38,866.39. Gains in MTNN (+117bps) along with select banking names such as GUARANTY (+52bps), ZENITHBANK (+69bps) and FBNH (+104bps) edged pout losses in GUINNESS (-10.00%), OANDO (-337bps), and ETERNA (-317bps). 

Despite the positive close, losses suffered earlier in the week meant the market still closed 13bps lower WoW. Furthermore, investor sentiment remained tepid, as market activity worsened once again, with volume traded improving by 10% while value traded worsened 19%. Finally, market breadth remained negative to close out the week, with a figure of 0.87x after 13 stocks advanced, while 15 declined.

What will shape the market tomorrow?

Analysts at Vetiva Capital Management Ltd in Victoria Island anticipate a tepid start to next weeks trading amid persistently mild investor sentiment, weak volumes and interest in the Fixed Income market. Furthermore, following the little gains observed at the end of this week, profit taking activity remains a strong possibility.                                      

Stocks to Watch

On the Bid Cart: SOVRENINS ended the day as the second-largest gainer, rising 8.70% to close at N 0.25. The Insurance counter is up 25.00% YTD, outperforming the subsector which has gained 6.53% YTD.

On the Offer Cart: GUINNESS was the top loser today, dropping 10.00%  to close at N 29.70. The Consumer Goods stock remains the strongest performer in the subsector, having gained 56.32% YTD, outperforming the sector which has lost 3.02% YTD.

reporting for easykobo.com on Sunday, April 11 2021 from Lagos, Nigeria

Source - analysts at Vetiva Capital Management Ltd in Victoria Island
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