Firming up grounds, the bull added another 30Bpts to NSEASI gained points as it closed the day’s trading activities at 27,725.40 point. HCML-17, HCW-5, NSE-Pensions and NSE-Banking Indexes all closed the day red while others gained as shown in the index movement table.
Today’s trading activities produced 28 advancers and 16 lagers. NSEASI YtD return is currently -3.20% while the Market Capitalization YtD return stood at –N326.774 billion.
Zenith Bank, Access Bank, Pz Cussons, Forte Oil, Fidson Healthcare, and Unilever may be considered for technical positions (medium term). Meanwhile, we are of the opinion that UBA, Guaranty Trust Bank, Transcorp amongst few others should be watched for now.
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 0.85 while buy volume and sell volume is estimated at 80% and 20% respectively.