Weighed down by the 4.17% loss recorded by the most capitalized equities- Dangote Cement, equities trading on the floor of The Nigerian Stock Exchange ended in the red territory. Total lost point through the day was 91Bpts as it rounded up at 36,550.44 point. It was a mixed performance amongst the observed market indices as shown in the index movement table. Due to the negative performance, Month to Date market returns dropped to 206Bpts.
Value loss by the market capitalization of the listed equities during today’s trading activities was N115.850 billion, same as 91Bpts below the opening value. Meanwhile, trading activities for the day produced 27 advancers and 16 lagers. NSEASI Year to Date gain is now 37.38% while the Market Capitalization Year to Date gain stood at N3.478 trillion same as 37.62% above the year’s opening value.
The dwindling nature of the market in recent times could mean an attempt to defend the height attained so far and form a tradable pattern, which can be followed till the market welcome another major fundamental boost (please note: major fundamental boost in view is the nine months financial performances). Should this assertion come true, then investors are in for another trading session.
Nevertheless, it should be noted that market fundamentals have not changed despite the resisting nature of the market. We therefore maintained that traders should play cautiously around the market arena. All trading rules should be followed to the later.
Kindly note that August 23rd is the Agm date for Rak Unity, while Zenith Bank’s share price was adjusted for the recently reported 25k dividend today. Guaranty Trust Bank will also close its book for the announced 30k dividend on the 24th August, and closure date for MCNicholes 3k dividend is 25th-30th August. Safe Trade.