Market Update

Nigerian Equities Market: Performance Favors Bearish Investors as NSEASI Shed 66Bpts

For the third time within the week, equities trading on the floor of The Nigerian Stock Exchange ended with the bear as the performance pointer shed 66Bpts to round up the day at 27,044.36 point. It was a mixed performance among the observed market indices as shown in the Index Movement table. On the other hand, value loss on the Market Capitalization of the listed equities stood at N61.386 billion.

Today’s trading activities produced 17 advancers and 20 lagers. NSEASI YtD return is currently -5.58% while the Market Capitalization YtD return stood at –N561.398 billion.

It’s no news that the Nigerian Equities market is currently weak as it trades within close range. This position had put the market in a kind of fragile state. In other words, any slight fundamental change will receive sharp response from the investing public. On the strength of this, we strictly recommend vigorous analysis of all fundamental news regarding the nation’s economy, sector or equity of choice.

In our opinion, as the earnings season winds up, traders are expected to start dusting their technical tools as this remains the major tools to identifying short trades in the absence of corporate actions. As mentioned in our last report, identifying both support and resistance of equities of play will work wonders. Another trading strategy capable of properly guiding traders’ decision is volume price analysis. All of this and many more are easily achieved through technical analysis tools.

Volume Index for today’s activity is 0.57 while buy volume and sell volume momentum is estimated at 2% and 98% respectively.

 

Comment here

Market Update

Nigerian Equities Market: Performance Favors Bearish Investors as NSEASI Shed 66Bpts

For the third time within the week, equities trading on the floor of The Nigerian Stock Exchange ended with the bear as the performance pointer shed 66Bpts to round up the day at 27,044.36 point. It was a mixed performance among the observed market indices as shown in the Index Movement table. On the other hand, value loss on the Market Capitalization of the listed equities stood at N61.386 billion.

Today’s trading activities produced 17 advancers and 20 lagers. NSEASI YtD return is currently -5.58% while the Market Capitalization YtD return stood at –N561.398 billion.

It’s no news that the Nigerian Equities market is currently weak as it trades within close range. This position had put the market in a kind of fragile state. In other words, any slight fundamental change will receive sharp response from the investing public. On the strength of this, we strictly recommend vigorous analysis of all fundamental news regarding the nation’s economy, sector or equity of choice.

In our opinion, as the earnings season winds up, traders are expected to start dusting their technical tools as this remains the major tools to identifying short trades in the absence of corporate actions. As mentioned in our last report, identifying both support and resistance of equities of play will work wonders. Another trading strategy capable of properly guiding traders’ decision is volume price analysis. All of this and many more are easily achieved through technical analysis tools.

Volume Index for today’s activity is 0.57 while buy volume and sell volume momentum is estimated at 2% and 98% respectively.

 

Comment here