Responding to profit taking activities call, the Nigerian Equities market gauzed at the red zones, thus, it gave up 17Bpts to end at 28,166.42 from 28,214.57 point. Performances among observed market indices were mixed as shown in the index movement table.
Today’s trading activities produced 18 advancers and 22 lagers. NSEASI YtD return is currently -1.66% while the Market Capitalization YtD return stood at –N175.281 billion.
More of our recommended equities joined the advancers log today. Zenith emerged second on the list with 5.27%, Forte Oil also emerged among the top 5 gainers for the day with 5% price appreciation. Pz gained 4.96% as it approached its next high. Recall that we anticipated the equity hitting N22.00. On the other hand, Wema Bank was hijacked as it gave up 1.54%, we expect the stock to test 90k anytime from now.
We maintained 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 1.66 while buy volume and sell volume is estimated at 19% and 81% respectively.