Rounding up the last trading day of the week, trading activities on the floor of The Nigerian Stock Exchange closed in the negative territory. Thus, NSEASI gave up 86Bpts of its trading points, and closed at 35,037.46 from 35,342.46. Safe NSE-Consumer Goods and NSE-Industrial Goods indexes that gained, other observed market indices in this report closed negative. Thus, Week to Date, activities index is 1,297Bpts above opening, while the total gained points in the month of October is now 1,476Bpts. See the index movement table for details.
It was an outstanding week that kicked off on a very strong positive mood, the fourth trading day was the most active as the exchange had to activate the circuit breaker for the first time since the rule was adopted. Nevertheless, the strong positive moves induced panic for traders who had hit their respective profit lines after years of waiting. Thus, the last trading day of the week projected the decisions of such investors, who choose to rather exit with the little profit achieved unexpectedly, as the lead index closed negative. We are of the opinion that funds exiting other low yielding capital market products contributed largely to the funds moving the market at the moment. We recommend that traders should only position in strong fundamentally based equities, despite the bandwagon movement.
Value loss by the Market Capitalization of the listed equities during today’s trading activities was N159.375 billion, same as 86Bpts above the opening value. Meanwhile, trading activities for the day produced 26 ADVANCERS and 38 LAGERS. NSEASI Year to Date gain is 3,053Bpts while the Market Capitalization Year to Date gain stood at N5.349 trillion same as 5,128Bpts above the year’s opening value.
Week Ended 13th November, 2020
As noted above, the NSE All-Share Index (NSEASI) and Market Capitalization both closed by 12.97% above their respective opening values, thus, each rounded up the week at 35,037.46 and N18.308 trillion respectively.
Sixty-Nine (69) stocks closed the week green, while Twelve (12) ended below their respective opening points, and Eighty (80) closed on a flat note.
Oando, led the advancers’ log with 48.15% as it rounded up trade at N4.00 from N2.70. Japaul Oil followed on the log with 43.48% gain, thus it closed at N0.33 from N0.23. NNFML, Fidson, and Transcorp completed the top 5 price percentage gainers log for the week as shown in the top advancers’ log table.
On the flip side, Ikeja Hotels led the decliners’ log with 9.91% to close at N1.00 from N1.11. Global Spectrum followed with 9.89% loos to close at N4.19 from N4.65. Morison, CHIPLC and CAP PLC completed the top 5 price percentage losers’ log with 9.26%, 8.11% and 3.70% respectively.
During the week, Airtel Africa was adjusted for N5.79 cash dividend recently announced for the as the third quarter interim dividend. Safe Trade.