Rounding off the week’s trading activities, equities trading on the floor of the Nigerian Stock Exchange closed red. Today’s loss was a reversal of the previous day’s gained points. Making the picture somewhat bearish is the almost swallowing nature of today’s red candle against the last recovery attempt. Aside NSE-Insurance and NSE-Industrial Goods that gained other observed market indices shed points. Nevertheless, activities remained green by 34Bpts Week to Date, while a total of 302Bpts had been lost in the current month. See the index movement table for details.
Value loss by the market capitalization of the listed equities during today’s trading activities was N54.919 billion same as 62Bpts below the opening value. Meanwhile, trading activities for the day produced 12 advancers and 19 lagers. NSEASI Year to Date loss is -6.04% while the Market Capitalization Year to Date loss stood at –N508.247 billion same as 5.50% below the year’s opening value.
Led by Nigerian Breweries with 13.04% gain, a total of 18 equities ended the week above their respective opening prices. Guinness pitched second on the list with 11.57% gain over its opening price, while MPF Micro Finance Bank, Beta Glass and Custodian and Allied Plc completed the top five on the list with 9.26%, 4.99% and 4.94% respectively.
Meanwhile, a total of 34 equities depreciated during the week as led by the 16.18% loss on Unilever share price. Forte Oil maintained downward trend as it lost a total of 14.96% through the week. Vitafoam, Uacn and Honeywell Plc completed the top 5 price percentage losers with 14.00%, 12.20% and 9.09% respectively.
We maintained that traders should play cautiously around the market arena. No market rumors should be discarded without careful screening. Please trade accordingly.