Trading activities on the floor of the Nigerian Stock Exchange ended the first trading day of the new week/month in the negative territory. Total point lost during today’s trade was 27Bpts as it rounded up at 35,407.79 from 35,504.62. Safe NSE-Premium and NSE-Pension that added points, other observed market indices swerved. Being the first trading day of the week and month, both week to date and month to date loss is 27Bpts. See index movement for details.
Value loss by the market capitalization of the listed equities during today’s trading activities was N34.711 billion, same as 28Bpts above the opening value. Meanwhile, trading activities for the day produced 21 advancers and 24 lagers. NSEASI Year to Date gain is now 31.75% while the Market Capitalization Year to Date gain stood at N2.955 trillion same as 31.97% above the year’s opening value
The management of Guinness Nigeria Plc today released its full year financial performance for the year ended 30th June, 2017. The result was a 23% growth in total revenue from N101.973 bill to N125.919 billion. Unlike the previous year when a loss was declared, the company reported 195% growth in its profit line from LAT of N2.015 billion to PAT of N1.923 billion. The directors recommend, subject to approval at the next AGM 64k cash dividend per ordinary shares of 50k each.
Please note that September marks the end of third quarter for equities with December financial year end. Thus, we are of the opinion that, this seasonal event should guide investments through the month.
Meanwhile, we maintained that traders should tread cautiously. Possible profits should be accumulated while strict care should be exercised against risky investment decisions. All trading rules should be followed to the later. Safe Trade.