Market Update

Nigerian Equities Market Update: Friday, 27th October, 2017

Rounding up the week’s trading activities, 15Bpts were again

slashed off market trading points, as the lead performance pointer closed at 36,462.26 from 36,517.48. It was a mixed performance amongst the observed market indices as shown in the index movement table. Week to Date NSEASI gave up 34Bpts while a total of 288Bpts had been added to the market trading points during the month of October. See the index movement table for details.

Value loss by the market capitalization of the listed equities during today’s trading activities was N19.111 billion, same as 15Bpts below the opening value.  Meanwhile, trading activities for the day produced 23 advancers and 23 lagers. NSEASI Year to Date gain is now 35.68% while the Market Capitalization Year to Date gain stood at N3.391 trillion same as 36.47% above the year’s opening value.

More nine months financials approached the market arena today, of which Total proposed N3.00 interim dividend with qualification date of 1st December, 2017 while the payment date is 18th December, 2017. Nigerian Breweries equally announced N1.00 interim dividend. Closure is between 16th and 22nd November, 2017, in other words, qualification date is 15th November. The said dividend shall be posted on 23rd November, 2017.

One major move that can be credited to this season is the sustainability of gained points within the year. Although the bull had not enjoyed very smooth and free ride, market is putting up strong resistance against the full operation of the bear. Charting tools have clearly revealed that the market had systematically played a sideway trend for the better part of the month of October. On this strength we maintain a strong side for sustainability of gained points within the year. Safe Trade.

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