Market Update

Nigerian Equities Market: Update 16th November, 2016

Completing 11 bearish trading days, equities trading on the floor of the Nigerian Stock Exchange took another outing with the bear. Only NSE-Industrial Goods index closed blue while other observed market indices follow the lead indicators’ path.

In this regard, point lost through the day stood at 79Bpts as NSEASI closed at 25,653.14 from 25,857.06 point. Thus, the three trading days of the week already slashed 198Bpts off the market trading points while Month to Date lost is 576Bpts.

Value lost by the market capitalization of the listed equities during today’s trading activities is N70.196 billion same as 79Bpts from the opening value.

Meanwhile, today’s trading activities produced 6 advancers and 33 lagers. NSEASI YtD return is negative -10.44% while the Market Capitalization YtD loss stood at -N1.019 trillion.

Observing the relationship between price and 3-points moving averages (representing short, medium and long term) it was observed that NSEASI has closed below its Short term moving average. Meanwhile, short term moving average is currently below both mid and long term moving averages. This implies that the relationship between price and moving averages is bearish- short, mid and long term.

No support has been identified with the lead performance index NSEASI at the moment, and we have not noticed any reversal signal. Nevertheless, we recommend that traders consider positions (in tranches) in fundamentally strong equities even as the market dives south.

Volume Index for today’s activity is 0.60 while buy volume and sell volume momentum is estimated at 9% and 91% respectively.

Comment here

Market Update

Nigerian Equities Market: Update 16th November, 2016

Completing 11 bearish trading days, equities trading on the floor of the Nigerian Stock Exchange took another outing with the bear. Only NSE-Industrial Goods index closed blue while other observed market indices follow the lead indicators’ path.

In this regard, point lost through the day stood at 79Bpts as NSEASI closed at 25,653.14 from 25,857.06 point. Thus, the three trading days of the week already slashed 198Bpts off the market trading points while Month to Date lost is 576Bpts.

Value lost by the market capitalization of the listed equities during today’s trading activities is N70.196 billion same as 79Bpts from the opening value.

Meanwhile, today’s trading activities produced 6 advancers and 33 lagers. NSEASI YtD return is negative -10.44% while the Market Capitalization YtD loss stood at -N1.019 trillion.

Observing the relationship between price and 3-points moving averages (representing short, medium and long term) it was observed that NSEASI has closed below its Short term moving average. Meanwhile, short term moving average is currently below both mid and long term moving averages. This implies that the relationship between price and moving averages is bearish- short, mid and long term.

No support has been identified with the lead performance index NSEASI at the moment, and we have not noticed any reversal signal. Nevertheless, we recommend that traders consider positions (in tranches) in fundamentally strong equities even as the market dives south.

Volume Index for today’s activity is 0.60 while buy volume and sell volume momentum is estimated at 9% and 91% respectively.

Comment here