What will shape the market tomorrow?   

April 20 (Lagos) -  Barring another large cross on any of the large-caps in tomorrow’s session, we expect trading to be mixed with a slight positive tilt. We note the possibility of some investors taking profit on the recent gains and do not rule out a slight sell-off on the banking names ahead of further earnings releases.          

Stocks to Watch

On the Bid Cart: NNFM was the largest gainer in today’s session, recording it second top-five finish in as many session with a +9.35% gain to close at N 5.85. The counter has lost 13.20% YTD and trails its year-high price of N 9.68.

On the Offer Cart: FTNCOCOA was the biggest loser in today’s trading, finishing the day limit-down at -10.00% with a closing price of N 0.45. This brings the Agric counter’s YTD losses to -31.82%, hovering just above its year-low of N 0.42.

The All share index kicked off the week with a positive close, rising 12bps to 38,854.73 points. It was a tight tussle between gainers and losers, but eventually, investor appetite for names such as  ZENITHBANK (+70bps), GUARANTY (+120bps), UBA (+144bps) and MTNN (+18bps) trumped losses on DANGSUGAR (-89bps),  ACCESS (-132bps) and TOTAL (-430bps).

 Meanwhile, market activity soared 1,216% to N 32.1 billion, due to a large cross trade of over 181m MTNN shares worth N 29.7 billion to dominate market turnover. 

Outside this cross, market was largely quiet. Finally, market breadth remained positive after 19 stocks closed positive while 16 declined, yielding a figure of 1.19x.

reporting for easykobo.com on Tuesday, April 20 2021 from Lagos, Nigeria

Source - analysts at Vetiva Capital Management Ltd in Victoria Island.
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