Riding further on the wings of Frank Templeton’s aggressive investing in emerging markets, equities trading on the floor of The Nigerian Stock Exchange added a whooping 238Bpts as it rounded up at 39,849.65 from 38,923.26. All observed market indices ended above their respective opening points. Please note that the five trading days observed so far in 2018 already boosted market trading points by 420Bpts. See the index movement table for details.
Value gained by the market capitalization of the listed equities during today’s trading activities was N329.669 billion, same as 238Bpts above the opening value. Meanwhile, trading activities for the day produced 37 advancers and 9 lagers. NSEASI Year to Date gain is now 4.20% while the Market Capitalization Year to Date gain stood at N571.684 billion same as 4.20% above the year’s opening value.
According to Mark Mobius (a key personnel of Frank Templeton’s investments) a veteran investor who became one of the most recognized authorities on money making opportunities in Africa, Asia, Eastern Europe and Latin America emerging markets, emerging markets outperformed most developed markets in 2017 for a second year in a row. On the strength of this, from the first trading day of 2018 it resumed aggressive investments in selected listed equities on the floor of some identified emerging markets of which Nigeria is inclusive.
In our opinion, the Nigerian equities market should witness another round of positivity. Nevertheless, traders should not lose sight of the upcoming earnings season. In other words, investors should consider equities likely to reward investors with either cash or scrip dividend. Safe Trade.