For the third consecutive trading day within the week, equities trading on the floor of the Nigerian Stock Exchange closed in the green zone. Total points added during today’s trade is 19Bpts as it rounded up at 26,166.80 point. NSE-Insurance, NSE-Lotus II and NSE-Industrial goods shed points while other observed market indices followed the lead indicator’s path. Being the first trading week of the new month, both Week to Date and Month to Date market returns are positive at 155Bpts each. See the index movement table for details.
Value gained by the market capitalization of the listed equities during today’s trading activities was N18.004 billion, same as 20Bpts above the opening value. Meanwhile, trading activities for the day produced 26 advancers and 16 lagers. NSEASI Year to Date loss is -2.63% while the Market Capitalization Year to Date loss stood at –N201.620 billion same as 2.18% below the year’s opening value.
Positive sentiments (linked to first quarter earnings and improved economic signs) remained strong during today’s trading activities, this is confirmed by the sharp intraday recovery move seen on the candlestick formation representing today’s activities. Please note that we do not expect the north moves to continue without interval pull back actions.
We are of the opinion that smartly positioning after every pullback actions is wise. It will also be safe to consider equities with interim dividend policy during half year earnings season in respective trading baskets.
We maintained that opting for growth oriented listed equities will largely improve portfolios value in the current market mood. 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.