Waving off the month of October, equities trading on the floor of The Nigerian Stock Exchange gained. Total point added through today’s trade was 54Bpts as it halted at 36,680.29 from 36,484.30. NSE-Pension and NSE-Banking index shed points while other observed market indices followed the lead indicators’ path. Week to Date, market returns is now 60Bpts, and the Month ended by adding 350Bpts to market trading points. See the index movement table for details.
Value gained by the market capitalization of the listed equities during today’s trading activities was N67.830 billion, same as 54Bpts above the opening value. Meanwhile, trading activities for the day produced 24 advancers and 27 lagers. NSEASI Year to Date gain is now 36.49% while the Market Capitalization Year to Date gain stood at N3.448 trillion same as 37.29% above the year’s opening value.
In agreement with our expectations, market uptrend was sustained through the month of October. MoM, added points swiftly swallowed losses suffered in August and September. Having received major nine months financials, we expect the market to start giving room for more short term trades in various listed equities. We also foresee more patronage in the shares of few equities that proposed interim dividends until such are adjusted accordingly.
Please note also that, the next season will last for 6-months, after which the full year financials will be expected, worthy of note during the season are major festivities that may lower equities’ prices and give room for new positions. Thus, smartly scanning released nine months financials and successfully predicting full year earnings will help investors in filling their trading baskets with profitable equities for medium term investments. Safe Trade.