Equities trading on the floor of The Nigerian Stock Exchange sailed in to the new month in a grand style, as the lead performance index NSEASI added 277Bpts to close the day at 30,314.14. After today’s move, returns on market capitalization of the listed equities hit N1.232 trillion. Aside the NSE-Oil&Gas that lost 24Bpts, other observed market indices gained. Week to Date, market is up by 430Bpts.
Value gained by the market capitalization of the listed equities during today’s trading activities was N282.037 billion, same as 277Bpts above the opening value. Meanwhile, trading activities for the day produced 39 advancers and 11 lagers. NSEASI Year to Date gain is 12.80% while the Market Capitalization Year to Date gain stood at N1.233 trillion same as 13.33% above the year’s opening value.
With the understanding that the most confusing market to play is a one directional market (either up or down) since predicting turning points always seems to be an uphill task. We have decided to further caution traders on the very sharp uptrend generated by the market points in recent times. It is needful to understand when to go, when to hold on and when to run. Setting targets and avoiding greediness in every position is very important.
As can be seen, every stock looks good and attractive, because the general market fundamental is constantly rubbing off on them all. Thus, like we have constantly warned, analyzing equities of interest individually will give a clearer picture of positions.
We maintained that opting for growth oriented listed equities will largely improve portfolios’ value. In other words, highly leveraged, cyclical and speculative companies that survived the recession (on the strength that the current economy recovery signs will not fail) should be considered for better performance. Safe Trade.