Enhanced by the gained points on the share price of Dangote Cement and few highly capitalized equities, the lead performance index of The Nigerian Stock Exchange NSEASI recovered the loss suffered during the previous day’s trading session by adding 151Bpts and closed at 32,686.72 point. It was a mixed performance amongst the observed market indices as shown in the index movement table. Both the Week to Date and Month to Date returns are green at 419Bpts and 1081Bpts respectively.
Value gained by the market capitalization of the listed equities during today’s trading activities was N168.133 billion, same as 151Bpts above the opening value. Meanwhile, trading activities for the day produced 26 advancers and 27 lagers. NSEASI Year to Date gain is 21.63% while the Market Capitalization Year to Date gain stood at N9.264 trillion same as 22.20% above the year’s opening value.
The management of International Breweries, today, unveiled its intention to merge with Intafact Beverages Ltd and Pabod Breweries Ltd, both brewers operate within Nigeria. The merger is an added advantage to the company, given the strong market points already controlled by the two companies. Traders on the other hand seemed to have positively welcomed the idea as the equity’s share price was priced higher by 10.22% today.
Although the market closed on a positive note, good numbers of listed equities that were impacted by the last bullish moves freely bowed to pressures from profit taking activities. This fact can be established further by the sharp increase on the lagers’ log at the end of today’s trade.
Not allowing the mixed market mood becloud the next market season, we take it necessary to awaken traders to the fact that in few weeks from now, the market will start receiving the half year financial performance of equities with December financial year end. In our opinion, this should mainly inform positions at the moment. Safe Trade.