Reversing the lost grounds in the previous trading day, equities trading on the floor of The Nigerian Stock Exchange ended in the green zone. Total point added through today’s trading activities was 243Bpts as it rounded up at 36,720.62 from 35,847.75 point. Safe NSE-Oil & Gas index that shed point other observed market indices gained. Due to the positive move, Week to Date loss adjusted down to 39Bpts. See index movement table for details.
Value gained by the market capitalization of the listed equities during today’s trading activities was N302.127 billion, same as 245Bpts below the opening value. Meanwhile, trading activities for the day produced 32 advancers and 20 lagers. NSEASI Year to Date gain is 36.64% while the Market Capitalization Year to Date gain stood at N3.408 trillion same as 36.86% above the year’s opening value.
Without much argument, traders had a very lovely session through the just concluded month. Good numbers of equities enjoyed outstanding patronage that swiftly pushed their prices to new highs. The effect of which is a sharp boost in various portfolios which had experienced very tough time before now.
Major fundamental boost during the month is the half year financial performance statistics, improving headline inflation figure, fairly stable translation rate, and unrelenting efforts of the central bank of Nigeria in controlling the interest rate and other key economic indicators.
We foresee a mixed performance in the new month as the half year earnings season winds up. Market is expected to give room for traders as more pronounced and directional trends will be unveiled. Investors on the other hand should play cautiously given the more than two years highest high prices of equities. Safe Trade.