Market Update

Nigerian Equities Market Update: 22nd August, 2017

Reversing lost points during Monday’s trading hours, equities trading on the floor of the Nigerian Stock Exchange gained 103Bpts to round up trade at 36,962.48 point from 36,584.44. It was a mixed performance amongst the observed market indices as shown in the index movement table. Week to Date lead performance pointer attempted positive region to the tune of 11Bpts, meanwhile Month to Date return inched up to 311Bpts.

Value gained by the market capitalization of the listed equities during today’s trading activities was N130.299 billion, same as 103Bpts above the opening value. Meanwhile, trading activities for the day produced 22 advancers and 22 lagers. NSEASI Year to Date gain is now 37.54% while the Market Capitalization Year to Date gain stood at N3.493 trillion same as 37.78% 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 comes 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 yesterday. 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.

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