Market Update

Nigerian Equities Market Update: NSEASI Halts 3 Days Bearish Moves, Adds 81Bpts

Halting three days bearish moves, equities trading on the floor of the Nigerian Stock Exchange closed on a positive note as it added 81Bpts to close at 25,471.69. All observed market indices trended the lead indicator’s path as shown in the index movement table. Meanwhile, both the Week to Date and Month to Date returns remained in the red at 17Bpts each.

Value gained by the market capitalization of the listed equities during today’s trading activities was N71.117 billion same as 81Bpts above the opening value. Meanwhile, trading activities for the day produced 23 advancers and 15 lagers. NSEASI Year to Date loss is -5.22% while the Market Capitalization Year to Date loss stood at –N433.416 billion same as 5.69% below the year’s opening value.

Leading the advancers for the day is Mobil Oil that added 10.25% to its previous close price and closed at N347.28. Recall that we reported the complete takeover of this equity by Nipco Plc. Wapco followed on the list with 10.23% gain, please note that this equity had been on a jumping drive for more than ten trading days. 7up pitched the third position as it attempted recovery from the previous depression. Oando joined the list despite the no incentive full year financial statistics released recently. UBN completed the top 5 gainers’ list with 5% price appreciation.

Transnation Express led the decliners for the day with 8.08% loss. Fidson Healthcare followed with 5% while Pz Cussons, NPFMICFBNK and ETI completed the top 5 price percentage losers list with 4.93%, 4.84% and 4.62% respectively.

We strictly recommend a cautious tread around the market arena. Consideration for long term positions looks more reliable at the moment. Safe Trade.

 

By: Jeariogbe Tunde Segun

Comment here

Market Update

Nigerian Equities Market Update: NSEASI Halts 3 Days Bearish Moves, Adds 81Bpts

Halting three days bearish moves, equities trading on the floor of the Nigerian Stock Exchange closed on a positive note as it added 81Bpts to close at 25,471.69. All observed market indices trended the lead indicator’s path as shown in the index movement table. Meanwhile, both the Week to Date and Month to Date returns remained in the red at 17Bpts each.

Value gained by the market capitalization of the listed equities during today’s trading activities was N71.117 billion same as 81Bpts above the opening value. Meanwhile, trading activities for the day produced 23 advancers and 15 lagers. NSEASI Year to Date loss is -5.22% while the Market Capitalization Year to Date loss stood at –N433.416 billion same as 5.69% below the year’s opening value.

Leading the advancers for the day is Mobil Oil that added 10.25% to its previous close price and closed at N347.28. Recall that we reported the complete takeover of this equity by Nipco Plc. Wapco followed on the list with 10.23% gain, please note that this equity had been on a jumping drive for more than ten trading days. 7up pitched the third position as it attempted recovery from the previous depression. Oando joined the list despite the no incentive full year financial statistics released recently. UBN completed the top 5 gainers’ list with 5% price appreciation.

Transnation Express led the decliners for the day with 8.08% loss. Fidson Healthcare followed with 5% while Pz Cussons, NPFMICFBNK and ETI completed the top 5 price percentage losers list with 4.93%, 4.84% and 4.62% respectively.

We strictly recommend a cautious tread around the market arena. Consideration for long term positions looks more reliable at the moment. Safe Trade.

 

By: Jeariogbe Tunde Segun

Comment here