Equities trading on the floor of the Nigerian Stock Exchange ended the last trading day of the week on a negative note as it gave up 46Bpts and closed at 33,117.48 point. Save NSE-Premium and HWC5-INDEX that gained, other observed market indices closed down. The total points gathered for the week was 310Bpts while the just concluded month added 1,227Bpts to the market trading point. See the index movement table for details.
Value lost by the market capitalization of the listed equities during today’s trading activities was N52.686 billion, same as 46Bpts above the opening value. Meanwhile, trading activities for the day produced 18 advancers and 33 lagers. NSEASI Year to Date gain is 23.23% while the Market Capitalization Year to Date gain stood at N2.205 trillion same as 23.85% above the year’s opening value.
Leading the gainers for the day was Eterna Oil with 7.02% gain that closed its share price at N3.81 from N3.56. Champion Breweries followed with 5.73% while ETI, Fidson Healthcare and JaizBank completed the top 5 gainers’ list with 4.91% and 4.48% gain respectively.
Losers log on the other hand was led by Unilever that shed 9.74% of its previous close price. May&Baker followed closely with 9,56% loss while Unity Bank, UBA and 7up Bottling company completed the top 5 losers.
In our opinion, heightened cautiousness is necessary in any one directional market. This is because almost all equities will ride on the wings of market sentiments/forces, thereby increasing investment risk and in-turn build returns on every position. In such market scenario, all tradable points (entry and exit) are lost and recommendations are purely based on market rumors and individual expectations. Safe Trade.