Diving further south, equities trading on the floor of the Nigerian Stock Exchange shed 17Bpts as it closed at 26,201.60 point. It was a mixed performance among the observed market indexes as shown in the index movement table. Week to Date, the market is down by 47Bpts while total points lost within the current month is 250Bpts.
Value loss by the market capitalization of the listed equities during today’s trading activities was N15.050 billion same as 17Bpts below the opening value. Meanwhile, today’s trading activities produced 19 advancers and 19 lagers. NSEASI YtD loss is -2.50% while the Market Capitalization YtD loss stood at –N231.571 billion.
Unlike the previous trading day, more buyers emerged during today trading activities; this has increased the probability of the market closing the next trading day on a green note. Nevertheless, it should be noted that market volatility is still weak, and the chances of it failing the ongoing attempt to stage a support has increased.
On the strength of the above, we recommend calculated positions in proven fundamentally based equities. It should also be noted that joining any equity at its highest high in the past 60 trading days is likened to joining a moving train, kindly play by the trend.