Equities trading on the Floor of The Nigerian Stock Exchange ended the month of October on a bearish note. The 27Bpts lost today increased the Month to Date loss to 394Bpts; this is against the 267Bpts gain recorded during the previous month. Please note that total value lost on the market capitalization today is N25.459 billion.
Today’s trading activities produced 16 advancers and 29 lagers. NSEASI YtD return is currently -4.97% while the Market Capitalization YtD return stood at –N501.040 billion.
The management of Nestle Foods unveiled its nine months financial performance today. The unimpressive result was majorly dipped by finance cost of N21.98 billion as against the N4.24 billion reported in similar period of 2015. Profit for the period was equally down by 97% from N17.23 billion to N484.69 million.
The general response to nine months corporate earnings has been generally negative. This is evidenced by the general market direction through the month. Bearish sentiment is expected to take upper hands during the new month on the strength of the nation’s weak macroeconomic indices.
Standing tall among the gainers for the day is Learn Africa that added 9.38% to its previous close price and ended the day green at N0.70 from N0.64. Dangote Flour followed with 8.83% price appreciation while AIICO Insurance, MRS and Continental Re-Insurance completed the top five gainers log. Transcorp attempted a new low today as it gave up 9% of its previous close price to close at N0.91. DnMeyer, 7Up, Wapco and Oando are other top losers for the day.
Volume Index for today’s activity is 1.06 while buy volume and sell volume momentum is estimated at 4% and96% respectively.