Rounding off the last trading day of the week, the performance index of the Nigerian Stock Exchange inched north by 1Bpts. Observed performance indexes were mixed as shown in the index movement table.
Today’s trading activities produced 22 advancers and 17 lagers. NSEASI YtD return is currently -3.72% while the Market Capitalization YtD return stood at –N378.747 billion.
As mentioned in our report yesterday, the market may be staging a support around the current trading range. From all indications it does not seem the attempt will be successful given the almost lifeless bull parading the market arena at the moment. Should the bears visit the market next week; the support might give way for a downward trend. Nevertheless, it should be noted that some equities are actually trading at very attractive prices. Thus considering medium positions in such is an intelligent investment decision.
Please note that we maintain our position that traders should pay more attention to their trades and seriously mind their stops (up (+) or down (-)). Investment greed should be avoided at all cost.
Volume Index for today’s activity is 1.12 while buy volume and sell volume is estimated at 37% and 63% respectively.