Attempting new height, the lead performance pointer of The Nigerian Stock Exchange NSEASI recorded another green point. Total points added during today’s trade is 77Bpts as it closed at 32,686.72. It was a mixed performance amongst the observed market indices as shown in the index movement table. By this performance, total points added within the week increased to 499Bpts while Month to Date returns is now 1166Bpts.
Value gained by the market capitalization of the listed equities during today’s trading activities was N86.859 billion, same as 77Bpts above the opening value. Meanwhile, trading activities for the day produced 45 advancers and 15 lagers. NSEASI Year to Date gain is 22.56% while the Market Capitalization Year to Date gain stood at N2.139 trillion same as 23.14% above the year’s opening value.
Although the bull’s pace slowed during today’s trading session, market mood still favors the bullish investors, as good numbers of listed equities conveniently lined up on the gainer’s log. It is our believe that traders should maintain short term trading strategies, as this will reduce investment risk and protect positions against bull trap. We recommend that entry/exit points should be set before positioning in any equity and such points should be followed strictly.
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.
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.