11 Feb 2022:With most of the indices closing in the green, the domestic bourse was able to sustain yesterday’s positive close, with the All-Share index advancing by 27bps to settle at 47,286.34 points. Strong gains posted in TOTAL (+992bps), coupled with the positive activity in the consumer goods and banking space - GUINNESS (+10.00%), FBNH (+543bps), FLOURMILL (+336bps), and FIDELITYNBK (+172bps) helped ensure the green close. Meanwhile, losses in UBN (-320bps), IKEJAHOTEL (-274bps), AIICO (-141bps), and OANDO (-99bps) reduced the market’s gains. Market breath improved to 3.33x, after 30 stocks gained and only 9 fell. However, activity level trended down, with traded volume and turnover declining by 33.31% and 27.46% to 198m units and N3.4 billion respectively.

Stock watch for tomorrow

What will shape the market tomorrow?

We anticipate further mixed activity with a slightly bullish close to end the week, as investors continue to trade cautiously whilst cherry picking attractive counters across board.

Stocks to Watch

On the bid Cart: GUINNESS closed the session limit-up to settle at N55.00. The consumer goods stock has returned an impressive YTD gain of 41.03%, outperforming the sector which is currently down 1.84% YTD.   

On the Offer Cart: Investors took profit in UBN, shedding 3.20% of its value to close at N6.05. The banking stock has gained a marginal 2.54% YTD.

Source: Vetiva Securities Limited at Victoria Island