Starting off the week after the two days holiday, the performance index of The Nigerian Stock Exchange closed in the green. Total points added through today’s trade was 76Bpts. Aside the NSE-Industrial Goods that shed marginal 2Bpts, other observed market indices gained. Month to Date, the lead index is up by 573BPts. See the index movement table for details.
Value gained by the market capitalization of the listed equities during today’s trading activities was N69.583 billion same as 76Bpts above the opening value. Meanwhile, today’s trading activities produced 30 advancers and 18 lagers. NSEASI YtD return is negative -6.82% while the Market Capitalization YtD loss stood at –N667.808 billion.
Standing tall on the gainers log is University Press that added 10.03% of its previous close price. Union Bank followed with 9.79% gain, Nem Insurance, Nahco and National Salt followed closely as shown in the price percentage gainers log. Guinness on the other hand led the losers log with 5.10%, ETI followed with 4.96% loss while Custodian Insurance, Livestock Feeds and Ekocorp completed the price percentage losers’ log.
As noted in our previous updates, positioning in equities with December year end after ensuring the possibility of either cash or scrip dividend remained the best investment strategies at the moment. We are of the opinion that equities such as Zenith Bank, Guaranty Trust Bank, Access Bank, Nigerian Breweries, UBA, Nascon amongst others may be considered.
Volume Index for today’s activity is 0.57 while buy volume and sell volume momentum is estimated at 66% and 44% respectively.