Leading from the previous week, equities trading on the floor of the Nigerian Stock Exchange maintained the recovery struggle as it added marginal 2Bpts. In other words, it closed at 42,579.48 from 42,570.89. It was a mixed performance amongst the observed market indices as shown in the index movement table. Total point lost within the month of February is now 398Bpts.
Value gained by the market capitalization of the listed equities during today’s trading activities was N3.081 billion, same as 2Bpts above the opening value. Meanwhile, trading activities for the day produced 21 advancers and 26 lagers. NSEASI Year to Date gain is now 11.34% while the Market Capitalization Year to Date gain stood at N1.670 trillion same as 12.28% above the year’s opening value.
Leading from the last trading day of the previous week, there seems to have been an agreement between price and volume. This can be confirmed on technical charting tools by plotting the price alongside the money flow index. Nevertheless, the bullish sentiment is not strong enough to guarantee a sustainable recovery; this coupled with the fact that the market is currently running through a downtrend calls for heightened cautiousness around the market arena.
Although religiously, faith is a must ingredient that requires you to believe before you see, in our opinion, seeing before you believe might be a more reliable approach while playing around the market during this earnings season. In other words, playing the short happy/sad investors’ mood at the release of financials will go a long way in reducing investment risk.
Having said these much, we announce the two outstanding results posted by Total Nig Plc (N14.00 Div) and African Prudential (40k div, Qualification Date: 26th March, 2018) for the year ended 31st December, 2017. Kindly play by individual equity’s fundamental. Safe Trade.