Reflecting the heightened indecisive state of the market, equities trading on the floor of the Nigerian Bourse reversed yesterday’s position, as it inched south by 5Bpts. It was a mixed performance among the observed market indices as shown in the index movement table. Meanwhile, after today’s performance, points lost within the week came to 2Bpts while 244Bpts had been lost within the month of January 2017.
Value loss by the market capitalization of the listed equities during today’s trading activities was N4.756 billion same as 5Bpts below the opening value. Meanwhile, today’s trading activities produced 13 advancers and 25 lagers. NSEASI YtD loss is -2.44% while the Market Capitalization YtD loss stood at –N226.086 billion.
Going by the investors’ mild reaction today, despite the outcome of the monetary policy committee (MPC) to maintain status quo in the monetary policies space, it is very glaring that traders are not really sure of where to place the market. Recall that most traders are currently trapped in the Santa Claus Bull Run while good numbers of investors are bent on holding positions against expected earnings season boom. This situation has kept the market within a trading range and made investment decisions more technical. In other words, our opinion is that, today’s mild loss cannot in anyway be linked to the outcome of the MPC meeting.
The Nigerian Stock Exchange today admits StanbicIBTC Assets Management Ltd (SIAML) pension funds tagged “SIAML Pension ETF40” to its daily official list. According to report, the IPO recorded about 60% subscriptions, thus, 5.97 million units were admitted at a par value of N100/units.