Rounding off the second trading day of the week, performance index of the Nigerian Bourse jerked further north. Total point added during today’s trading activities was 129Bpts. By this positive performance, points gained within the new week now stood at 229Bpts while the Santa Claus month already stepped the green zone by 462Bpts. Please note that, aside HWC5-Index and Nse-Consumer Goods Index that shed points, other observed market indices gained. See the Index movement table for details.
Value gained by the market capitalization of the listed equities during today’s trading activities was N115.774 billion same as 129Bpts below the opening value. Meanwhile, today’s trading activities produced 32 advancers and 11 lagers. NSEASI YtD return is negative -7.80% while the Market Capitalization YtD loss stood at –N764.359 billion.
Forte Oil again led the price percentage gainers’ log with 10.24%, today’s performance completed the 10th consecutive trading days that the equity had been in the green. Vitafoam followed on the log with 7.14% while Glaxo Smithkline, Seplat and Livestock Feeds completed the list. Losers’ log on the other hand was topped by Fidson Healthcare that gave up 4.51% of its previous close price, Champion Breweries lost 4.21% while Airline Services, Learn Africa and Beta Glass completed the top 5 price percentage losers table.
Undoubtedly, most investors are currently positioning for full year incentives (scrip and cash dividend) expected in the market at the end of the first quarter of 2017. We therefore recommend cautious positioning in dividend stocks. Kindly work with the nine months financials while picking such equities.
Volume Index for today’s activity is 0.92 while buy volume and sell volume momentum is estimated at 100% and 0% respectively.