Market Update

Nigerian Equities Market: Update 31st January, 2017

nseasi

Rounding up the first month of the year, equities trading on the floor of The Nigerian Stock Exchange dipped by 69Bpts, closing at 26,036.24 point. Trading activities within the month sliced off 312Bpts off the market trading points. Meanwhile, only NSE- Pension and NSE-Banking index closed the month on a positive note with 16Bpts and 109Bpts respectively while other sub indexes on our list shed points. See the index movement table for details.

Value lost by the market capitalization of the listed equities during today’s trading activities was N47.726 billion same as 53Bpts below the opening value.  Meanwhile, trading activities for the day produced 16 advancers and 24 lagers. NSEASI YtD loss is -2.96% while the Market Capitalization YtD loss stood at –N273.937 billion.

Technically, the month of January reversed about 50% of the points gained in December 2016. This is a clear bearish situation. Making the picture more bearish is the way the market broke the newly found support on the last trading day of the month. Please note that the said support was very strong through the just concluded month. Volatility on the other hand was very weak, thus, the possibility of exiting positions in a short term is slim. Therefore, it is recommended that, investors consider long term positions against short term trading.

Similarly, going by the continued dampening economic situation and meager fiscal regime, confidence in the expected earnings grows weaker by the day. As it is, servicing firms looks a bit reliable than the manufacturing industries, that happen to have received directly, the effect of the very harsh business terrain in Nigeria.

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Market Update

Nigerian Equities Market: Update 31st January, 2017

nseasi

Rounding up the first month of the year, equities trading on the floor of The Nigerian Stock Exchange dipped by 69Bpts, closing at 26,036.24 point. Trading activities within the month sliced off 312Bpts off the market trading points. Meanwhile, only NSE- Pension and NSE-Banking index closed the month on a positive note with 16Bpts and 109Bpts respectively while other sub indexes on our list shed points. See the index movement table for details.

Value lost by the market capitalization of the listed equities during today’s trading activities was N47.726 billion same as 53Bpts below the opening value.  Meanwhile, trading activities for the day produced 16 advancers and 24 lagers. NSEASI YtD loss is -2.96% while the Market Capitalization YtD loss stood at –N273.937 billion.

Technically, the month of January reversed about 50% of the points gained in December 2016. This is a clear bearish situation. Making the picture more bearish is the way the market broke the newly found support on the last trading day of the month. Please note that the said support was very strong through the just concluded month. Volatility on the other hand was very weak, thus, the possibility of exiting positions in a short term is slim. Therefore, it is recommended that, investors consider long term positions against short term trading.

Similarly, going by the continued dampening economic situation and meager fiscal regime, confidence in the expected earnings grows weaker by the day. As it is, servicing firms looks a bit reliable than the manufacturing industries, that happen to have received directly, the effect of the very harsh business terrain in Nigeria.

Comment here