Market Update

Nigerian Equites Market Update: The Bull Took Back the Baton as NSEASI Added 138Bpts

Taking back the baton, the bull led the market through deeper green zones as the lead performance pointer NSEASI added 138Bpts and ended the day’s trade at 33,598.20. Most of the observed market indices took side with the bull while few others shed points. The positive moves swiftly took care of the last two days loss as the Week to Date return turned green at 97Bpts while Month to Date returns improved to 1,390Bpts. See the index movement table for details.

Value gained by the market capitalization of the listed equities during today’s trading activities was N157.808 billion, same as 138Bpts below the opening value. Meanwhile, trading activities for the day produced 36 advancers and 22 lagers. NSEASI Year to Date gain is 25.02% while the Market Capitalization Year to Date gain stood at N2.371 trillion same as 25.65% above the year’s opening value.

So far, the current year has turned out the best in the last 4 years, that is, 2014-2017. It will be recalled that in 2014, market lost 16.1%, 2015 slashed 17.4% off market trading points while percentage lost in 2016 was 6.2%. Adding these lost points together, a total of 39.7% was lost in 3 years, while 25.02% gain had been recorded in 2017. This gives us a net loss of 14.68% loss. All things being equal, by now, some portfolios would have recovered all lost points in 2016 and will be attempting the highest valuation of 2015. (Please note that the assumption here is that there has not been any sale or additional purchase since 2014).

In our opinion, heightened cautiousness is necessary in every one directional market. This is because almost all equities will ride on the wings of market sentiments/forces, thereby increasing investment risk and in-turn build returns on every position. In such market scenario, all tradable points (entry and exit) are lost and recommendations are purely based on market rumors and individual expectations. Safe Trade.

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Market Update

Nigerian Equites Market Update: The Bull Took Back the Baton as NSEASI Added 138Bpts

Taking back the baton, the bull led the market through deeper green zones as the lead performance pointer NSEASI added 138Bpts and ended the day’s trade at 33,598.20. Most of the observed market indices took side with the bull while few others shed points. The positive moves swiftly took care of the last two days loss as the Week to Date return turned green at 97Bpts while Month to Date returns improved to 1,390Bpts. See the index movement table for details.

Value gained by the market capitalization of the listed equities during today’s trading activities was N157.808 billion, same as 138Bpts below the opening value. Meanwhile, trading activities for the day produced 36 advancers and 22 lagers. NSEASI Year to Date gain is 25.02% while the Market Capitalization Year to Date gain stood at N2.371 trillion same as 25.65% above the year’s opening value.

So far, the current year has turned out the best in the last 4 years, that is, 2014-2017. It will be recalled that in 2014, market lost 16.1%, 2015 slashed 17.4% off market trading points while percentage lost in 2016 was 6.2%. Adding these lost points together, a total of 39.7% was lost in 3 years, while 25.02% gain had been recorded in 2017. This gives us a net loss of 14.68% loss. All things being equal, by now, some portfolios would have recovered all lost points in 2016 and will be attempting the highest valuation of 2015. (Please note that the assumption here is that there has not been any sale or additional purchase since 2014).

In our opinion, heightened cautiousness is necessary in every one directional market. This is because almost all equities will ride on the wings of market sentiments/forces, thereby increasing investment risk and in-turn build returns on every position. In such market scenario, all tradable points (entry and exit) are lost and recommendations are purely based on market rumors and individual expectations. Safe Trade.

Comment here