Equities trading on the floor of the Nigerian Stock Exchange ended on a negative note as the All Share Index gave up 17Bpts, closing at 25,392.08 point. This is coming after the National Bureau of Statistics reported another contracting GDP figure (upto -1.30% YoY) for the last quarter of 2016.
So far, the two trading days of the current week added 31Bpts to market trading points. Meanwhile, by today’s performance (being the last trading day in February), it can be concluded that, activities during the month dipped market points by 272BPts. Technically, points lost within the first two month in 2017 is an equivalent (a reversal) of the total gains garnered in December 2016.
Value loss by the market capitalization of the listed equities during today’s trading activities was N15.346 billion same as 17Bpts below the opening value. Meanwhile, trading activities for the day produced 15 advancers and 12 lagers. NSEASI Year to Date loss is -5.75% while the Market Capitalization Year to Date loss stood at –N481.007 billion same as 5.20% below the year’s opening value.
During the trading hours of today, the market received another financial statistics from the most capitalized listed equities on the exchange- Dangote Cement. According to the released figures, the company smartly grew its top and bottom line over comparable period, and had proposed a cash dividend of N8.50 above the N8.00 paid in the previous year.
We maintained that investors play cautiously around the market arena, as the stochastic nature of the market protrude on a daily basis.