The bears resurfaced the market today as the lead performance index of the Nigerian Stock Exchange dipped by 31Bpts and closed at 25,406.72 point from 25,485.17. It was a mixed performance amongst the observed market indices as shown in the index movement table. The two trading days observed so far in the current week already slashed 19Bpts off market trading point while the Month to Date returns still trend within the green region.
Value loss by the market capitalization of the listed equities during today’s trading activities was N27.145 billion same as 31Bpts below the opening value. Meanwhile, trading activities for the day produced 22 advancers and 14 lagers. NSEASI Year to Date loss is -5.46% while the Market Capitalization Year to Date loss stood at –N455.895 billion same as 4.93% below the year’s opening value.
Five financial statistics hit the market during and after today’s trading activities. Julius Berger reported a no dividend performance for the year ended 31st December, 2016. Meanwhile Glaxo Smithkline proposed a 30k cash dividend, Unilever and FCMBH proposed 10k cash dividend, while Livestocks Feeds reported a no dividend status. According to the management of Glaxo Smithkline, the qualification date for the said dividend is 12th April, 2017, Annual General Meeting is scheduled for 31st May, 2017 at Muson Centre Onikan Lagos while the payment date is 1st June, 2017.
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
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