Halting three days recovery moves, equities trading on the floor of The Nigerian Stock Exchange gave up 52Bpts as it rounded up trade at 36,600.07 from 36,792.60. It was a mixed performance amongst the observed market indices as shown in the index movement table. Week to Date, lead activities index is down by 28Bpts while 22Bpts had been lost during the current month. See the index movement table for details.
Value loss by the market capitalization of the listed equities during today’s trading activities was N67.006 billion, same as 52Bpts below the opening value. Meanwhile, trading activities for the day produced 19 advancers and 22 lagers. NSEASI Year to Date gain is now 36.19% while the Market Capitalization Year to Date gain stood at N3.491 trillion same as 37.76% above the year’s opening value.
At the just concluded monetary policy meeting, members popularly voted to retain the MPR at 14.0 per cent, CRR at 22.5 per cent, liquidity Ratio at 30.0 per cent; and the asymmetric corridor at +200 and -500 basis points around the MPR. See detailed report of the meeting.
Meanwhile, the national bureau of statistics released the third quarter GDP report. According to the report, year to date Real GDP growth stands at 0.43%. Meanwhile, it grew in Q3 2017 by 1.40% (year-on-year) in real terms, the second consecutive positive growth since the emergence of the economy from recession in Q2 2017. See full GDP report.
We are of the opinion that smart traders should take advantage of the equities negatively affected in the last two days bearish moves. Safe Trade.