For the first time after four straight red days, equities trading on the floor of the Nigerian Stock Exchange gained. Total points added was 12Bpts as it closed at 25,485.17 from 25,454.93. Safe NSE-Industrial Goods that shed 113Bpts, other observed market indices closed north. Today’s performance moved the month to day returns to 62Bpts. See the index movement table for details.
Value gained by the market capitalization of the listed equities during today’s trading activities was N11.151 million same as 13Bpts above the opening value. Meanwhile, trading activities for the day produced 17 advancers and 12 lagers. NSEASI Year to Date loss is -5.17% while the Market Capitalization Year to Date loss stood at –N428.750 billion same as 4.64% below the year’s opening value.
Three financial statistics were released during today’s trading activities. Sokoto Cement (CCNN) released a no dividend/bonus result for the year ended 31st December, 2016 this is despite recording a marginal growth above comparable year of 2015. Similarly, Champion Breweries in its financial activities figures recorded an improvement in its top and bottom line over 2015 figures, yet no incentives was proposed to its shareholders for the reported year.
Consolidated Hallmark equally unveiled its financial performance for 2016, and it proposed a 2k cash dividend payment. The dividend was proposed despite a reduction in its financial performance compare to 2015. Both Gross Premium written and Profit for the year dropped.
We maintained that traders should play cautiously. Only long term positions are recommended, as most equities’ share price are currently being depressed by low investors’ confidence which have automatically induced low liquidity around the market arena. Safe Trade