Still in ranging mood, trading activities on the floor of The Nigerian Stock Exchange inched south by 2Bpts and closed at 36,930.83 from 36,939.59. NSE-Banking and NSE-Pension Indexes gained while other observed market indices followed the lead indicators’ path. So far, 68Bpts had been added to the market trading points in the new month. See index movement table for details.
Value loss by the market capitalization of the listed equities during today’s trading activities was N3.031 billion, same as 2Bpts below the opening value. Meanwhile, trading activities for the day produced 23 advancers and 20 lagers. NSEASI Year to Date gain is now 37.42% while the Market Capitalization Year to Date gain stood at N3.534 trillion same as 38.23% above the year’s opening value.
Without much argument, the market is clearly threatening the minor resistance along its northward journey. Although this position is impressive, the weak force with which this was done downed the confidence of defiling the resistance.
Meanwhile, 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.