Equities trading on the floor of the Nigerian Bourse lost marginal 2Bpts to close the week trading activities at 26,325.93. It was a mixed performance among the observed market indexes as shown in the index movement table. Week to Date, the market is in the green by 28Bpts while Month to Date loss now stands at 204Bpts.
Value loss by the market capitalization of the listed equities during Friday’s trading activities was N1.532 billion same as 0.2Bpts below the opening value. Meanwhile, today’s trading activities produced 20 advancers and 24 lagers. NSEASI YtD loss is -2.04% while the Market Capitalization YtD loss stood at –N188.791 billion.
On Friday 13th January, 2016, the National Bureau of Statistics reported that the Nation’s Headline Inflation figure for the month of December, 2016 increased by 18% YoY. This is 0.07% higher than November 2016 rate. Meanwhile, comparing the figure to similar month in 2015, it grew by 1.08%. We expect the index to either slow or commenced recovery from January 2017. And we do not expect any unfavorable reactions from investors due to the increase, since market already adjusted for the increase before now.
Within the week, Sanbic IBTC ETF30 proposed a 35k dividend for the period ended 31st December, 2016. The registrar book will be closed on 23rd January, 2017 while the payment date is 6th February, 2017. May & Baker equally announced the opening of 291,489,840 ordinary shares of 50k each at 75k/share Right Issue. The right shall be open within 9th January, 2017 to 10th February, 2017.
Performance in the new week is expected to be mixed; more investors may be seen attempting few highly capitalized equities in the ditch for short positions. Kindly invest accordingly.