Wrapping up the first trading day of the week on a flat note, equities trading on the floor of the Nigerian Stock Exchange inched north by 1Bpts as it closed at 25,743.03 point. It was a mixed performance among the observed market indices as shown in the index movement table. Month to Date the market is up by 199Bpts.
Value gained by the market capitalization of the listed equities during today’s trading activities was N758.635 million same as 1Bpts below the opening value. Meanwhile, today’s trading activities produced 15 advancers and 23 lagers. NSEASI YtD return is negative -10.12% while the Market Capitalization YtD loss stood at –N994.733 billion.
Bidders’ greed swiftly took advantage of panicking investors through today’s trading activities. It was very glaring that buyers strategically bargained for their respective equities of choice at the lowest price possible seeing the keen interest exhibited by sellers in dire need of funds and the few yet to regain confidence in market recovery.
We are of the opinion that investors should consider the following equities in their respective trading baskets;
- Zenith Bank,
- Access Bank,
- Forte Oil,
- African Prudential,
- Fidson Healthcare,
- Pz Cursons amongst others.
Volume Index for today’s activity is 0.62 while buy volume and sell volume momentum is estimated at 26% and 74% respectively.