Standing slightly above the last highest point attained in recent times, the lead performance pointer of The Nigerian stock Exchange enjoyed another outing with the bull. Total point added through today’s trading activities was 64Bpts. By this performance, Week to Date market returns grew to 126bpts just as the Month to Date returns entered 1,048Bpts. See index movement table for details.
Value gained by the market capitalization of the listed equities during today’s trading activities was N62.634 billion, same as 64Bpts above the opening value. Meanwhile, trading activities for the day produced 30 advancers and 14 lagers. NSEASI Year to Date gain is 5.93% while the Market Capitalization Year to Date gain stood at N594.488 billion same as 6.43% above the year’s opening value.
The management of Fidson Healthcare had released a report against the Monday 22nd, 2017 publication in the Business Day Newspaper of its planned merger/acquisition with competitor May & Baker Plc. According to the report the news is pure rumor and should be treated as such.
At the end of today’s trading activities, the market had attained a new high (when closing points of 12th May, 2017 is compared to that of today 25th May, 2017). Although this further solidified the new market trend (uptrend), we are of the opinion that smart investors are likely to take short profits any moment from now. Nevertheless, that will not in any way deflate the current positive mood, rather, it will avail opportunities for new positions.
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.