Maintaining positive drive, the lead activities index of The Nigerian Stock Exchange added another 72Bpts as it closed at 28,101.63. Three of the observed market indices shed points while others enjoyed another bullish ride. Nevertheless, Week to Date market return is still red while total point added during the month of May is now 906Bpts.
Value gained by the market capitalization of the listed equities during today’s trading activities was N70.306 billion, same as 72Bpts above the opening value. Meanwhile, trading activities for the day produced 22 advancers and 15 lagers. NSEASI Year to Date gain is 4.57% while the Market Capitalization Year to Date gain stood at N467.967 billion same as 5.06% above the year’s opening value.
Leading the gainers for the day is Oando with 9.59% price appreciation. If the last move on this equity is anything to go by, then traders should prepare for profit taking any moment from now. Nahco followed with 8.42% gain that closed its price at N3.04. UBA pitched third on the list with 7.85% gain, there are strong likelihood that the stock may post another 2 green days before pulling back. Zenith Bank and Portland Paint completed the top 5 price percentage gainers with 5.09% and 5.00% respectively.
Mobil Oil topped the price percentage gainers’ list with 5.00%. Transnational Express lost 4.88% while C&I-Leasing, CCNN, and Jaiz Bank completed the top 5 list with 4.48%, 4.40% and 4.21% loss respectively.
We maintained that opting for growth oriented listed equities will largely improve portfolios’ value. In other words, highly leveraged, cyclical and speculative companies that survived the recession (on the strength that the current economy recovery signs will not fail) should be considered for better performance. Safe Trade.
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