Halting the three days pull back actions, equities trading on the floor of The Nigerian Stock Exchange jerked north, gaining 18Bpts as it ended the day’s trading activities at 26,464.82 point. It was a mixed performance amongst the observed market indexes as shown in the index movement table. By today’s performance, points lost within the week adjusted to 91Bpts while gained point within the current month is now 485Bpts.
Value gained by the market capitalization of the listed equities during today’s trading activities was N16.072 billion same as 18Bpts below the opening value. Meanwhile, today’s trading activities produced 18 advancers and 13 lagers. NSEASI YtD return is negative -7.60% while the Market Capitalization YtD loss stood at –N744.686 billion.
The timely intervention of the bull looks good for the market. After the consistent ups and downs recently played out around the market arena, determining both entry and exit points has become more dicey as both resistance and support points cannot be identified with high precision. But if the current market behavior is sustained, new entry and exit points will be discovered in both the lead index and individual equities at large. Thus traders can play within the trend.
Nevertheless, we maintained that investors should smartly position in dividend stocks. Such equities can be swiftly identified by their respective nine months financials. We also caution against panic investment decisions as such might lead to huge loss.
Volume Index for today’s activity is 0.57 while buy volume and sell volume momentum is estimated at 66% and 44% respectively.