Rounding up the week, equities trading on the floor of The Nigerian Stock Exchange gained 17Bpts and closed at 36,939.59 from 36,877.15. Safe NSE-Banking Index that shed points, other observed market indices added points. In all, the week improved the market trading points by 131Bpts, while the new month already gained 71Bpts. See the index movement table for details.
Value gained by the market capitalization of the listed equities during today’s trading activities was N21.611 billion, same as 17Bpts above the opening value. Meanwhile, trading activities for the day produced 21 advancers and 19 lagers. NSEASI Year to Date gain is now 37.45% while the Market Capitalization Year to Date gain stood at N3.537 trillion same as 38.26% above the year’s opening value.
Without much argument, the market is clearly threatening the minor resistance along its northward journey. Although this position is impressive, the weak force with which this was done downed the confidence of defiling the resistance.
Meanwhile, having received major nine months financials, we expect the market to start giving room for more short term trades in various listed equities. We also foresee more patronage in the shares of few equities that proposed interim dividends until such are adjusted accordingly.
Please note also that, the next season will last for 6-months, after which the full year financials will be expected, worthy of note during the season are major festivities that may lower equities’ prices and give room for new positions. Thus, smartly scanning released nine months financials and successfully predicting full year earnings will help investors in filling their trading baskets with profitable equities for medium term investments. Safe Trade.