Market Update

Nigerian Equities Market: Update 15th December, 2016

Thrusting further north, the performance pointer of the Nigerian Equities Market added 57Bpts to close the day’s trading activities at 26,559.01. It was a mixed performance among the observed market indexes. Week to Date, the market had gathered 287BPts while 522Bpts had been added to the market trading point in the month of December.

Value gained by the market capitalization of the listed equities during today’s trading activities was N52.081 billion same as 57Bpts below the opening value.  Meanwhile, today’s trading activities produced 21 advancers and 13 lagers. NSEASI YtD return is negative -7.27% while the Market Capitalization YtD loss stood at –N712.278 billion.

Leading on the price percentage gainers’ log is Honey Flour that added 8.62% to close at N1.26 from N1.16. The equity had been on a strong recovery move for the past four trading days and still look strong enough to record more positive days. ETI, Nem Insurance, UCAP and UBA completed the top 5 list. Mobil topped the losers’ log with 5% loss followed by Fidson Healthcare that shed 4.72%. Oando, Total and Caverton are other top losers for the day. Please note that Forte Oil feature on the losers log for the first time due to pressure from profit taking activities.

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 0.69 while buy volume and sell volume momentum is estimated at 91% and 9% respectively.

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Market Update

Nigerian Equities Market: Update 15th December, 2016

Thrusting further north, the performance pointer of the Nigerian Equities Market added 57Bpts to close the day’s trading activities at 26,559.01. It was a mixed performance among the observed market indexes. Week to Date, the market had gathered 287BPts while 522Bpts had been added to the market trading point in the month of December.

Value gained by the market capitalization of the listed equities during today’s trading activities was N52.081 billion same as 57Bpts below the opening value.  Meanwhile, today’s trading activities produced 21 advancers and 13 lagers. NSEASI YtD return is negative -7.27% while the Market Capitalization YtD loss stood at –N712.278 billion.

Leading on the price percentage gainers’ log is Honey Flour that added 8.62% to close at N1.26 from N1.16. The equity had been on a strong recovery move for the past four trading days and still look strong enough to record more positive days. ETI, Nem Insurance, UCAP and UBA completed the top 5 list. Mobil topped the losers’ log with 5% loss followed by Fidson Healthcare that shed 4.72%. Oando, Total and Caverton are other top losers for the day. Please note that Forte Oil feature on the losers log for the first time due to pressure from profit taking activities.

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 0.69 while buy volume and sell volume momentum is estimated at 91% and 9% respectively.

Comment here