Bringing the Week to Date return to the green, the performance pointer of the Nigerian Bourse added another 31Bpts to close the last trading day of the week at 25,817.69. Nse-Premium Index, Nse Lostus Index and Nse Industrial Goods Index all closed red while other observed market indexes followed the lead indicator’s path. The total point added through the week is 30Bts while the Santa Claus month had successfully added 228Bpts.
Value gained by the market capitalization of the listed equities during today’s trading activities was N27.011 billion same as 31Bpts below the opening value. Meanwhile, today’s trading activities produced 22 advancers and 14 lagers. NSEASI YtD return is negative -9.86% while the Market Capitalization YtD loss stood at –N967.350 billion.
The market seems to be playing out the little available chances of entertaining the bull. Recall that we ascribed more confidence to the bear dominating the better part of the market trend through the Santa Claus month, against this assertion, the level of significance seems to be taking the lead around the market arena. Nevertheless, we strictly recommend a cautious play around the market arena.
THE WEEK’s PERFORMANCE
A total of 27 equities appreciated during the week led by Forte Oil that added N40.97 same as 62.78% to its opening price. Portland Paints followed with 26.52% while Transcorp, FBN Holdings and Total Nig completed the top 5 percentage gainers with 19.72%, 10.76% and 10.07% respectively. Meanwhile, 36 stocks dipped through the week topped by Guinness Nig with 12.47%, Neimeth Int. lost 9.09% off its opening price for the week while Avon Crown Caps, Lafarge Africa and UACN Property completed the top 5 losers log for the week.