Market Update

Nigerian Equities Market Ends the Week Red as Prices Adjust for Earnings Sentiments

Equities trading on the floor of the Nigerian Stock Exchange rounded up the week with negative 23Bpts. This brought the Week to Date loss to 115Bpts while the Month to Date loss is 88Bpts. The market capitalization of the listed equities dipped by only 1Bpts an equivalent of N1.028 billion.

Percentage difference between point shed by NSEASI and Market Cap is due to the supplementary listing of 413,175,709 ordinary shares added to the outstanding shares of Lafarge Africa Plc leading from the acquisition of 50% shareholding in United Cement Co Ltd.

Today’s trading activities produced 7 advancers and 18 lagers. NSEASI YtD return is currently -5.80% while the Market Capitalization YtD return stood at –N562.427 billion.

Trading the equities market seems to be getting more technical than it was during the earnings season; it appears equities are currently going through short market correction by giving up increases bagged during and towards the nine months earnings expectations. Currently intelligent traders might be sitting on the fence, the idea is to allow the two market lords (bull and the bear) define territories (resistance and support) this will help in simplifying trading decisions and reduce investment risk.

Although we recommend positioning for both cash and scrip dividend, we are of the opinion that this could be achieved at cheaper prices. Nevertheless, investors with high risk tolerance may start positioning in tranches from now.

While identifying equities likely to reward investors for cash or scrip dividend at the end of the ongoing financial year, we have selected the following equities;

  • Guaranty Trust Bank
  • Zenith Bank
  • Access Bank
  • Wapco
  • Julius Berger
  • African Prudential
  • Forte Oil
  • Mobil
  • Total Oil
  • UACN
  • United Capitals
  • UBA

Volume Index for today’s activity is 0.80 while buy volume and sell volume momentum is estimated at 58% and 42% respectively.

 

Comment here

Market Update

Nigerian Equities Market Ends the Week Red as Prices Adjust for Earnings Sentiments

Equities trading on the floor of the Nigerian Stock Exchange rounded up the week with negative 23Bpts. This brought the Week to Date loss to 115Bpts while the Month to Date loss is 88Bpts. The market capitalization of the listed equities dipped by only 1Bpts an equivalent of N1.028 billion.

Percentage difference between point shed by NSEASI and Market Cap is due to the supplementary listing of 413,175,709 ordinary shares added to the outstanding shares of Lafarge Africa Plc leading from the acquisition of 50% shareholding in United Cement Co Ltd.

Today’s trading activities produced 7 advancers and 18 lagers. NSEASI YtD return is currently -5.80% while the Market Capitalization YtD return stood at –N562.427 billion.

Trading the equities market seems to be getting more technical than it was during the earnings season; it appears equities are currently going through short market correction by giving up increases bagged during and towards the nine months earnings expectations. Currently intelligent traders might be sitting on the fence, the idea is to allow the two market lords (bull and the bear) define territories (resistance and support) this will help in simplifying trading decisions and reduce investment risk.

Although we recommend positioning for both cash and scrip dividend, we are of the opinion that this could be achieved at cheaper prices. Nevertheless, investors with high risk tolerance may start positioning in tranches from now.

While identifying equities likely to reward investors for cash or scrip dividend at the end of the ongoing financial year, we have selected the following equities;

  • Guaranty Trust Bank
  • Zenith Bank
  • Access Bank
  • Wapco
  • Julius Berger
  • African Prudential
  • Forte Oil
  • Mobil
  • Total Oil
  • UACN
  • United Capitals
  • UBA

Volume Index for today’s activity is 0.80 while buy volume and sell volume momentum is estimated at 58% and 42% respectively.

 

Comment here