Equities trading on the floor of the Nigerian Stock Exchange dipped for the second time within the week. Total point lost was 58Bpts as more active equities shifted to lagers’ log. All observed market indices ended in the red as shown in the index movement table. Week to Date all sub-indices were down and the lead performance index was equally in the red by 104Bpts. Similarly, Month to Date returns had turned red (15Bpts).
Value loss by the market capitalization of the listed equities during today’s trading activities was N51.318 billion same as 58Bpts below the opening value. Meanwhile, trading activities for the day produced 12 advancers and 26 lagers. NSEASI Year to Date loss is -5.20% while the Market Capitalization Year to Date loss stood at –N431.211 billion same as 4.66% below the year’s opening value.
Boosted by the previously proposed cash dividend of 14k, Fidelity Bank enjoyed strong positive patronage from traders jostling for positions in its shares. Kindly note that the boost will end tomorrow as the qualification date is 13th April, 2017. What will happen to the equity’s share price after the adjustment tomorrow should be of more concern to intelligent investors at the moment.
Other gainers on the top five list includes International Breweries that added 4.92%, NPF-Micro Finance, AIICO and UAC-properties. Mobil led the losers’ log with 9.44% as it ended the day’s transaction at N326.00. Recall that this company had been acquired by NIPCO and the market awaits the new name as promised by the new owners. Since the new buyers are fairly new to the market, it will not be fair to predict the effectiveness of its management until it has operated for at least one financial year.
We maintained that traders should play cautiously around the market arena. Investing for the half year financials should commenced from now. Safe Trade.