Market Update

Nigerian Equities Market Update: Friday, 16th February, 2018

In what looks like the end of a race, equities trading on the floor of The Nigerian Stock Exchange rounded up the last trading day of the week with a marginal 8Bpts gain; it closed at 42,638.83 from 42,604.40. It was a mixed performance among the observed market indices as shown in the index movement table. Week to Date NSEASI dipped by 113Bpts while total loss suffered so far in February is 384Bpts. See the index movement table for details.

Value gained by the market capitalization of the listed equities during today’s trading activities was N12.356 billion, same as 8Bpts above the opening value.  Meanwhile, trading activities for the day produced 10 advancers and 30 lagers. NSEASI Year to Date gain is now 11.49% while the Market Capitalization Year to Date gain stood at N1.692 trillion same as 12.43% above the year’s opening value.

Ordinarily, the lead performance pointer NSEASI should end today’s trade in the negative territory, but for Nestle Foods and few other blue chip that gained. Seeing the early return attempt of the bear, we tested Money Flow Index (MFI) against price and discovered that MFI had been flat for the three days the market gained. In other words volume did not agreed with price. This signals heightened cautiousness.

The candlestick pattern representing today’s trading activities is a doji. Although this is a reversal pattern signifying strong presence of the bear, it is recommended that traders observed the next trading day for confirmation before trading in this direction.

Please understand that earnings seasons is now very much around the corner, thus, investments should be based on the possibility of equities releasing improve figures and payment of cash or scrip dividend. Please understand that the possibilities of low dividend yields are on the high side, especially now that most equities are trading above their respective book values. Safe Trade.

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Market Update

Nigerian Equities Market Update: Friday, 16th February, 2018

In what looks like the end of a race, equities trading on the floor of The Nigerian Stock Exchange rounded up the last trading day of the week with a marginal 8Bpts gain; it closed at 42,638.83 from 42,604.40. It was a mixed performance among the observed market indices as shown in the index movement table. Week to Date NSEASI dipped by 113Bpts while total loss suffered so far in February is 384Bpts. See the index movement table for details.

Value gained by the market capitalization of the listed equities during today’s trading activities was N12.356 billion, same as 8Bpts above the opening value.  Meanwhile, trading activities for the day produced 10 advancers and 30 lagers. NSEASI Year to Date gain is now 11.49% while the Market Capitalization Year to Date gain stood at N1.692 trillion same as 12.43% above the year’s opening value.

Ordinarily, the lead performance pointer NSEASI should end today’s trade in the negative territory, but for Nestle Foods and few other blue chip that gained. Seeing the early return attempt of the bear, we tested Money Flow Index (MFI) against price and discovered that MFI had been flat for the three days the market gained. In other words volume did not agreed with price. This signals heightened cautiousness.

The candlestick pattern representing today’s trading activities is a doji. Although this is a reversal pattern signifying strong presence of the bear, it is recommended that traders observed the next trading day for confirmation before trading in this direction.

Please understand that earnings seasons is now very much around the corner, thus, investments should be based on the possibility of equities releasing improve figures and payment of cash or scrip dividend. Please understand that the possibilities of low dividend yields are on the high side, especially now that most equities are trading above their respective book values. Safe Trade.

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