As the market waved off its favorite month so far in the year 2017, equities trading on the floor of The Nigerian Stock Exchange beefed up trading points by 76Bpts as it rounded up the month at 29,498.31 point. It was a mixed performance amongst the observed market indices as traders strategically picked sectors for profit taking. Week to Date, activities index is up by 149Bpts. Meanwhile, the month of May drove NSEASI trading points north by 1448BPts (14.44%).
Value gained by the market capitalization of the listed equities during today’s trading activities was N76.650 billion, same as 76Bpts above the opening value. Meanwhile, trading activities for the day produced 31 advancers and 19 lagers. NSEASI Year to Date gain is 9.76% while the Market Capitalization Year to Date gain stood at N950.806 billion same as 10.28% above the year’s opening value.
Although the market ended on a positive note, profit taking activities was strong in few sub sectors. Notably, the banking sub sector’s share of the profit taking was huge. Recall that, good numbers of equities in this sector had in recent times boosted investors’ purse and nothing will stop traders from running off with the points realized so far.
We are of the opinion that, traders should smartly study equities of interest side by side the general market direction. Such trading strategy will expose both entry and exit positions and also confirm market mood, thereby placing traders at an advantage positions in the highly volatile market.
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.
Comment here