Equities trading on the floor of the Nigerian Stock Exchange resumed the new month on a negative note, as the lead performance index rounded up the day’s transactions at 25,183.10 point; which is 58Bpts below the previous close. Safe NSE-Insurance and NSE-Oil/Gas that added points, other observed market indices shed points while NSE-Industrial Goods closed flat. Week to Date, the market is down by 27Bpts. See the index movement table for details.
Value loss by the market capitalization of the listed equities during today’s trading activities was N50.520 billion same as 58Bpts below the opening value. Meanwhile, trading activities for the day produced 8 advancers and 19 lagers. NSEASI Year to Date loss is -6.29% while the Market Capitalization Year to Date loss stood at –N531.527 billion same as 5.75% below the year’s opening value.
Boring the investing public further, the management of Transnational Incorporation of Nigerian Plc- Transcorp, today, unveiled a negative financial statistics for the period ended 31st December, 2017. The performance further dented investors’ confidence as both the advancers and activities log suddenly faded off. It will be recalled that the market response to most of the equities that unveiled positive financials before now is neither here nor there. For example, Zenith had lost huge points after it announced its N1.77 dividend, and Dangcem remained flat despite the good dividend proposed.
We therefore maintained that investors play cautiously around the market arena, as the stochastic nature of the market protrude on a daily basis.