No reliance should be placed on the accuracy, fairness or completeness of the information contained in this report as it has not been verified by the analyst(s) involved or the companies whose securities have been referred to, except as otherwise disclosed. Whilst reasonable care has been taken in preparing this report, no responsibility or liability is accepted either by Vetiva Securities Limited and its affiliates (.Vetiva' ), its officers or any of its employees for any error of fact or opinion expressed herein. This report is based on public information which the analyst(s) consider credible and reliable. The consumer goods company has lost 18.90% YTD On the Offer Cart: After trading flat at ₦1,400 since May 30th, NESTLE closed the day with a 9.84% loss to settle at ₦1,262.30. On the bid Cart: Following yesterday's 10% decline in CUSTODIAN, the stock recovered by 7.94% today to settle at ₦6.80, moderating YTD loss to 13.92%. We anticipate a bearish close to the week amid slight recoveries tomorrow. The bearish run continued but with improvement in market breadth despite impressive earnings reports released today. įor a breakdown of stock performances, please see the pricelist. Lastly, market breadth stayed negative, closing the session with 10 advancers and 28 decliners for a figure of 0.36x. Meanwhile, activity levels improved further, as volume and value traded increased 7% and 27% to 206m units and ₦3.9 billion respectively. Also, with four straight sessions of negative activity this week, the All-Share index has lost 4.45%. Price depreciations in counters like STANBIC (-998bps), NESTLE (-984bps), MANSARD (-947bps), and WAPCO (-661bps) cancelled out gains in CUSTODIAN (+794bps), OANDO (+399bps), and STERLNBANK (+276bps). With just the Oil & Gas index closing in the green, the bears dominated once again as the market lost 104bps.

Protrader 9