Investors party up “ quarantine style” and celebrate the continuous ASI rally
30th April, 2020
Gains in MTNN (+428bps), ACCESS(+394bps) and UBA (+83bps) mitigated the impact of losses in NB (-338bps), ZENITHBANK (-272bps), BUACEMENT (-121bps) and GUARANTY (-47bps) as the ASI moved up by 67bps to 23,021.01 points. Contrary to the reduction in activity level recorded yesterday, total volume and value traded increased by 29.64% and 27.87% respectively today, courtesy of large trades in GUARANTY, ACCESS and MTNN. Similarly, the Bulls controlled the four trading sessions in the week as the WTD performance pegged at +2.45%, while three sectors led by the Banking sector (+5.10% WoW) closed the week higher against the other two sectors that closed in the red; Consumer goods (-1.71% WoW) and Industrial goods (-1.03% WoW).
What will shape the market tomorrow?
With the gradual easing of the lock down imposed by the Federal government next week, we anticipate a gradual improvement in economic activities and as such expect a number of fundamentally sound stocks to continue to enjoy positive patronage in the near time.
Reporting for EasyKobo on Thursday , 30 April 2020 in Lagos, Nigeria
Source: Vetiva Capital Management Limited
30th April, 2020
Gains in MTNN (+428bps), ACCESS(+394bps) and UBA (+83bps) mitigated the impact of losses in NB (-338bps), ZENITHBANK (-272bps), BUACEMENT (-121bps) and GUARANTY (-47bps) as the ASI moved up by 67bps to 23,021.01 points. Contrary to the reduction in activity level recorded yesterday, total volume and value traded increased by 29.64% and 27.87% respectively today, courtesy of large trades in GUARANTY, ACCESS and MTNN. Similarly, the Bulls controlled the four trading sessions in the week as the WTD performance pegged at +2.45%, while three sectors led by the Banking sector (+5.10% WoW) closed the week higher against the other two sectors that closed in the red; Consumer goods (-1.71% WoW) and Industrial goods (-1.03% WoW).
What will shape the market tomorrow?
With the gradual easing of the lock down imposed by the Federal government next week, we anticipate a gradual improvement in economic activities and as such expect a number of fundamentally sound stocks to continue to enjoy positive patronage in the near time.
Reporting for EasyKobo on Thursday , 30 April 2020 in Lagos, Nigeria
Source: Vetiva Capital Management Limited