Market Update

Nigerian Equities Market Update: Thursday, 1st February, 2018

Equities trading on the floor of The Nigerian Stock Exchange rounded up the first trading day of February in a positive note as the lead performance pointer NSEASI added 26Bpts and closed at 44,460.18 from 44,343.65. It was a mixed performance amongst the observed market indices. Week to Date a total of 157Bpts had been added to market trading points. See the index movement table for details.

Value gained by the market capitalization of the listed equities during today’s trading activities was N58.941 billion, same as 37Bpts above the opening value.  Meanwhile, trading activities for the day produced 22 advancers and 35 lagers. NSEASI Year to Date gain is now 16.25% while the Market Capitalization Year to Date gain stood at N2.345 trillion same as 17.23% above the year’s opening value.

It is a good thing that the market closed on a positive note. Recall that we noted the danger the market pull back at a point far from the last high. We also said it is necessary for traders to wait for at least two days confirmation since the possibility of reversing position is on the high side. In other words, today’s performance is a relief. Nevertheless, heightened cautiousness is still very much necessary.

As noted in our various reports, it is expected that investors re-shuffle portfolios in an attempt to position rightly for possible shocks during the earnings season. Recall that, January 2018 trend is exceptional when compare to normal trends in the past four Januaries. Thus, investors are expected to be cautious and more sensitive; all market news and fundamentals should not only be well analyzed, but general reactions to such should also be confirmed through technical analysis tools.

Investments should therefore be based on the possibility of equities releasing improve figures and pay cash or scrip dividend. Please understand that the possibilities of low dividend yields are on the high side, especially now that most equities are trading above their respective book values. Safe Trade.

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Market Update

Nigerian Equities Market Update: Thursday, 1st February, 2018

Equities trading on the floor of The Nigerian Stock Exchange rounded up the first trading day of February in a positive note as the lead performance pointer NSEASI added 26Bpts and closed at 44,460.18 from 44,343.65. It was a mixed performance amongst the observed market indices. Week to Date a total of 157Bpts had been added to market trading points. See the index movement table for details.

Value gained by the market capitalization of the listed equities during today’s trading activities was N58.941 billion, same as 37Bpts above the opening value.  Meanwhile, trading activities for the day produced 22 advancers and 35 lagers. NSEASI Year to Date gain is now 16.25% while the Market Capitalization Year to Date gain stood at N2.345 trillion same as 17.23% above the year’s opening value.

It is a good thing that the market closed on a positive note. Recall that we noted the danger the market pull back at a point far from the last high. We also said it is necessary for traders to wait for at least two days confirmation since the possibility of reversing position is on the high side. In other words, today’s performance is a relief. Nevertheless, heightened cautiousness is still very much necessary.

As noted in our various reports, it is expected that investors re-shuffle portfolios in an attempt to position rightly for possible shocks during the earnings season. Recall that, January 2018 trend is exceptional when compare to normal trends in the past four Januaries. Thus, investors are expected to be cautious and more sensitive; all market news and fundamentals should not only be well analyzed, but general reactions to such should also be confirmed through technical analysis tools.

Investments should therefore be based on the possibility of equities releasing improve figures and pay cash or scrip dividend. Please understand that the possibilities of low dividend yields are on the high side, especially now that most equities are trading above their respective book values. Safe Trade.

Comment here