Starting off the month of April, equities trading on the floor of the Nigerian Stock Exchange dipped, shedding 95Bpts to close the day’s trading activities at 25,273.03 from 25,516.34. It was a mixed performance among the observed market indices as shown in the index movement table. Going by the above, both Week to Date and Month to Date are red at 95Bpts each.
Value lost by the market capitalization of the listed equities during today’s trading activities was N84.189 billion same as 95Bpts below the opening value. Meanwhile, trading activities for the day produced 28 advancers and 7 lagers. NSEASI Year to Date loss is -5.96% while the Market Capitalization Year to Date loss stood at –N502.155 billion same as 5.43% below the year’s opening value.
Combining the lost points during today’s trade to that of the last trading day, it will be discovered that, all points gained three days prior have been snatched back by bearish investments. This pattern is bearish, and signals caution. Nevertheless, the lost points could partly be linked to two highly capitalized equities (Dangote Cement and Nigerian Breweries) that dipped.
Meanwhile, enhanced by market forces, UACN led the gainers’ log with 10.23% as it rounded up the day’s trade at N14.33 from N13.00. Nascon equally posted a jumping gain which added 10.14%. Dangote Sugar, Chemical and Allied Products and Mobil oil are other top gainers for the day.
Eterna Oil, Total, Gtbank, Dangote Cement and Nigerian Breweries are other top price percentage losers for the day.
We strictly recommend a cautious tread around the market arena. Consideration for long term positions looks more reliable at the moment. Safe Trade.