Reversing yesterday’s recovery attempt, the bear resurfaced the market arena as NSEASI gave up 10Bpts to close at 25,400.70 from 25,517.00 point. It was a mixed performance among observed market indices as shown in the index movement table. Week to Date loss is currently 18Bpts while the Month to Date loss is 635Bpts.
Value loss by the market capitalization of the listed equities during today’s trading activities was N9.053 billion same as 10Bpts below the opening value. Meanwhile, today’s trading activities produced 16 advancers and 13 lagers. NSEASI YtD return is negative -11.00% while the Market Capitalization YtD loss stood at -N1.075 trillion.
Leading the gainers’ log for the day is African Prudential that gained 4.89% to close at N2.79 from N2.66. Transcorp followed with 4.35%, Nem Insurance Flour Mills and Wema Bank completed the top 5 gainers for the day. Airline Services led the lagers log with 9.49% loss. Total followed with 8.98% while Okomu Oil came third with 4.57%. Vitafoam and International Breweries completed the top 5 losers. See the top performers log for details.
We are of the opinion that dropping equities prices gives room for new positions with medium term view. In this regard, we recommend a buy on the following equities; Access Bank, Nascon, Fidson Healthcare, African Prudential, Chemical & Allied Product, Presco & Flourmills and other value stocks.
Volume Index for today’s activity is 0.72 while buy volume and sell volume momentum is estimated at 79% and 21% respectively.