Market Update

Nigerian Equities Market: Update 21st December 2016

Swerving further south, the performance pointer of The Nigerian Stock Exchange gave up 46Bpts to close the day’s trading activities at 26,418.11. It was a mixed performance amongst the observed market indexes as shown in the index movement table. The three trading days of the week already slashed off 108Bpts from the market trading points. Meanwhile, points gained within the month remained positive at 466Bpts.

Value lost by the market capitalization of the listed equities during today’s trading activities was N42.237 billion same as 46Bpts below the opening value.  Meanwhile, today’s trading activities produced 20 advancers and 16 lagers. NSEASI YtD return is negative -7.77% while the Market Capitalization YtD loss stood at –N760.758 billion.

Having resolved issues with the Financial Reporting Council (FRC), the management of Stanbic IBTC finally released its full year financial performance for the year ended December 31st 2015. Although the result drops in the bottom line against the comparable period of 2014, 5k dividend was announced. The closure date for the said dividend is 3rd January, 2017. Both the Agm date and venue are to be advised later while payment date will be three working days after the Agm date.

As the market winds down due to the pressure of profit taking activities and perhaps portfolio sell down due to the festive season and other corporate responsibilities attached to the season; we strictly advised traders to caution against panic selling. Rather, positioning in dividend stocks and low priced equities should be considered.

Volume Index for today’s activity is 1.27 while buy volume and sell volume momentum is estimated at 17% and 83% respectively.

 

Comment here

Market Update

Nigerian Equities Market: Update 21st December 2016

Swerving further south, the performance pointer of The Nigerian Stock Exchange gave up 46Bpts to close the day’s trading activities at 26,418.11. It was a mixed performance amongst the observed market indexes as shown in the index movement table. The three trading days of the week already slashed off 108Bpts from the market trading points. Meanwhile, points gained within the month remained positive at 466Bpts.

Value lost by the market capitalization of the listed equities during today’s trading activities was N42.237 billion same as 46Bpts below the opening value.  Meanwhile, today’s trading activities produced 20 advancers and 16 lagers. NSEASI YtD return is negative -7.77% while the Market Capitalization YtD loss stood at –N760.758 billion.

Having resolved issues with the Financial Reporting Council (FRC), the management of Stanbic IBTC finally released its full year financial performance for the year ended December 31st 2015. Although the result drops in the bottom line against the comparable period of 2014, 5k dividend was announced. The closure date for the said dividend is 3rd January, 2017. Both the Agm date and venue are to be advised later while payment date will be three working days after the Agm date.

As the market winds down due to the pressure of profit taking activities and perhaps portfolio sell down due to the festive season and other corporate responsibilities attached to the season; we strictly advised traders to caution against panic selling. Rather, positioning in dividend stocks and low priced equities should be considered.

Volume Index for today’s activity is 1.27 while buy volume and sell volume momentum is estimated at 17% and 83% respectively.

 

Comment here