Recovering further lost grounds, the lead performance pointer of The Nigerian Stock Exchange added 188Bpts as it ended the day’s trading activities at 33,657.30 from 32,657.30. All observed market indices treaded the green territory as shown in the index movement table. By this performance, Week to Date market returns increased to 357Bpts while Month to Date returns is now 1,279Bpts.
Value gained by the market capitalization of the listed equities during today’s trading activities was N211.817 billion, same as 188Bpts above the opening value. Meanwhile, trading activities for the day produced 37 advancers and 14 lagers. NSEASI Year to Date gain is 23.80% while the Market Capitalization Year to Date gain stood at N2.257 trillion same as 24.42% above the year’s opening value.
Pz-Cussons topped the gainers’ log with 9.90% price appreciation, in our view the share price looked strong for further positive moves. Similarly, Diamond Bank followed with much vigor as it added 8.33% and closed at N1.30 from N1.20. UBA pitched the third position with 5.22% and closed at N9.47. Please note that the stock’s price is currently around its highest high since 2013 and should be traded with much caution. Cadbury and Stanbic IBTC completed the top 5 gainers’ list with 5.00% and 4.98% respectively. Price history revealed that Stanbic is around its pick since 2009.
In our opinion, heightened cautiousness is necessary in any 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.