Market Update

Nigerian Equities Market Update: NSEASI Dares Further Green Zones, adds 59Bpts

 

Daring further green zones, equities trading on the floor of The Nigerian Stock Exchange today added 59Bpts to close at 33,797.84. It was a mixed performance amongst the observed market indices as featured in the index movement table. By this positive move, Week to Date returns increased to 157Bpts while the total points added within the month of June is now 1,458Bpts.

Value gained by the market capitalization of the listed equities during today’s trading activities was N69.035 billion, same as 59Bpts below the opening value. Meanwhile, trading activities for the day produced 33 advancers and 24 lagers. NSEASI Year to Date gain is 25.76% while the Market Capitalization Year to Date gain stood at N2.440 trillion same as 26.39% above the year’s opening value.

So far, the current year has turned out the best in the last 4 years, that is, 2014-2017. It will be recalled that in 2014, market lost 16.1%, 2015 slashed 17.4% off market trading points while percentage lost in 2016 was 6.2%. Adding these lost points together, a total of 39.7% was lost in 3 years, while 25.76% gain had been recorded in 2017. This gives us a net loss of 14.09% loss. All things being equal, by now, some portfolios would have recovered all lost points in 2016 and will be attempting the highest valuation of 2015. (Please note that the assumption here is that there has not been any sale or additional purchase since 2014).

In our opinion, heightened cautiousness is necessary in every one directional market. This is because almost all equities will ride on the wings of market sentiments/forces, thereby increasing investment risk and in-turn build returns on every position. In such market scenario, all tradable points (entry and exit) are lost and recommendations are purely based on market rumors and individual expectations. Safe Trade.

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Market Update

Nigerian Equities Market Update: NSEASI Dares Further Green Zones, adds 59Bpts

 

Daring further green zones, equities trading on the floor of The Nigerian Stock Exchange today added 59Bpts to close at 33,797.84. It was a mixed performance amongst the observed market indices as featured in the index movement table. By this positive move, Week to Date returns increased to 157Bpts while the total points added within the month of June is now 1,458Bpts.

Value gained by the market capitalization of the listed equities during today’s trading activities was N69.035 billion, same as 59Bpts below the opening value. Meanwhile, trading activities for the day produced 33 advancers and 24 lagers. NSEASI Year to Date gain is 25.76% while the Market Capitalization Year to Date gain stood at N2.440 trillion same as 26.39% above the year’s opening value.

So far, the current year has turned out the best in the last 4 years, that is, 2014-2017. It will be recalled that in 2014, market lost 16.1%, 2015 slashed 17.4% off market trading points while percentage lost in 2016 was 6.2%. Adding these lost points together, a total of 39.7% was lost in 3 years, while 25.76% gain had been recorded in 2017. This gives us a net loss of 14.09% loss. All things being equal, by now, some portfolios would have recovered all lost points in 2016 and will be attempting the highest valuation of 2015. (Please note that the assumption here is that there has not been any sale or additional purchase since 2014).

In our opinion, heightened cautiousness is necessary in every one directional market. This is because almost all equities will ride on the wings of market sentiments/forces, thereby increasing investment risk and in-turn build returns on every position. In such market scenario, all tradable points (entry and exit) are lost and recommendations are purely based on market rumors and individual expectations. Safe Trade.

Comment here