Riding on the wings of gains recorded by Dangote Cement, the bull re-affirmed presence today as the market added 133Bpts to close at 28,209.93 point. Aside HCML-17 Index and NSE-Consumer Goods Index that shed marginal points, other observed market indices closed on a green note as shown in the index movement table.
Today’s trading activities produced 15 advancers and 14 lagers. NSEASI YtD return is currently -1.51% while the Market Capitalization YtD return stood at –N160.333 billion.
Market seems to be relenting in expectations of the outcome of the Monetary Policy Meeting (MPC). As noted above, points gained by the lead indicator is chiefly enhanced by Dangote Cement, else the market would have ended in the red. We are of the opinion that cautiously playing the market 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 0.96 while buy volume and sell volume is estimated at 96% and 4% respectively.