What will shape the market today?   

Aug 26 (Lagos) - Yesterday’s green close was maintained, as market pulled a significant win of 203bps to settle at 49,661.87 points. One of the key drivers of the positive close was the 706bps gain posted in AIRTELAFRI, while advances were also recorded in counters like BUAFOODS (+333bps), NGXGROUP (+204bps) and UBA (+143bps). 

On the other hand, price declines were recorded in FLOURMILL (-706bps), GTCO (-75bps) and WAPCO (-21bps) amongst others. Meanwhile, market activity trended mixed once again, with trades of about 74m units in MBENEFIT improving volume by 35%, while total turnover dipped 18% to N 2.7 billion. Lastly, market breadth improved to 1.64x, after the session ended with 18 advancers and 11 decliners.

What will shape the market today?

Market sentiments remain positive today, as heavy-weight counters continue to drive performance. Given today’s significant gain, analysts at Vetiva securities limited expect WTD return to close the week in the green.

Stocks to Watch


On the bid Cart: AIRTELAFRI closed the day with a 7.06% price appreciation, after trading flat at N 1,905.40 since July 15th. The telecoms company improved its YTD return to 113.61%, settling at N 2,040.

On the Offer Cart: Closing on the top losers chart, FLOURMILL saw a sharp decline of 7.06% to settle at N 27, eroding gains posted earlier in the year, as YTD loss is currently at 4.76%

reporting for easykobo.com on Friday, Aug 26 2022 from Lagos, Nigeria

Source - analysts at Vetiva securities limited 
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