18 Feb 2022: The All-Share Index saw a marginal gain in today’s session, rising 8bps to close at 47,102.64 points. Advances in the Consumer Good sector, specifically from the likes of HONYFLOUR (+991bps), GUINNESS (+769bps), INTBREW (+500bps) and NB (+105bps) propped up the broad market and marginally outweighed losses in SEPLAT (-588bps), ACCESS (-48bps), ETERNA (-270bps), NGXGROUP (-182bps) and MTNN (-15bps). However, this was not enough to reverse the losses suffered earlier in the week, as the ASI closed 13bps lower w/w. Meanwhile, market activity worsened in the final session of the week, with volumes down 3.65% to 345m units, while turnover fell by 32.07% to N4.4 billion. Lastly, market breadth remained positive at 1.82x, after 31 stocks advanced while 17 declined.

What will shape the market tomorrow?

Next week, we foresee a lukewarm start to trading, as investors continue to digest the latest economic data while cherry-picking attractive counters. We also anticipate some profit-taking activity on some of this week’s gainers.

Stocks to Watch

On the bid Cart: LEARNAFRCA ended the session as the highest gainer, rising 10.00% to close at N2.20. The publisher is currently up 88.03% YTD, outperforming the broad market.

On the Offer Cart: After landing on the top gainers chart in yesterday’s session, investor took profit in PHARMDEKO today, selling the stock down by 8.67% to N1.79. The pharmaceutical stock has lost 18.64% YTD.

Source: Vetiva Securities Limited at Victoria Island