Starting off the new week, having observed the Eid il-Maulud holiday yesterday, equities trading on the floor of the Nigerian Stock Exchange maintained the blue zone as it added 98Bpts to close the day’s trade at 26,071.16 from 25,817.69. Aside Nse-Industrial Goods and Nse-Insurance that shed marginal points, other observed market indices took sides with the bull. Month to Date, a total of 329Bpts had been added to NSEASI trading points. See the index movement table for details.
Value gained by the market capitalization of the listed equities during today’s trading activities was N87.215 billion same as 98Bpts below the opening value. Meanwhile, today’s trading activities produced 23 advancers and 14 lagers. NSEASI YtD return is negative -8.98% while the Market Capitalization YtD loss stood at –N880.134 billion.
Standing tall among the gainers for the day is Seplat that added 10.25% to end at N374.85. Forte Oil stepped further north with N10.88 same as 10.24% above its last close price. Champion Breweries pitched the third point on the log with 9.66% gain. Dangote Flour and Oando completed the top 5 price percentage gainers. Meanwhile, Avon Crown Caps, Portland Paints, UBN, Mansard and Fidson made up the top 5 price percentage losers for the day.
The market seems to be playing out the little available chances of entertaining the bull. Recall that we ascribed more confidence to the bear dominating the better part of the market trend through the Santa Claus month, against this assertion, the level of significance seems to be taking the lead around the market arena. Nevertheless, we strictly recommend a cautious play around the market arena.