Market Update

Nigerian Equities Market Update: Wednesday, 14th February, 2018

After seven straight bearish days, equities trading on the floor of The Nigerian Stock Exchange ended in the positive territory. Total point added through today’s trade was 111Bpts as NSEASI ended at 42,171.80 from 41,708.15. Safe NSE-Oil & Gas that shed points, other observed market indices gained. Thus, Week to Date market loss reduced to 222Bpts while Month to Date loss is now 490Bpts. See the index movement table for details.

Value gained by the market capitalization of the listed equities during today’s trading activities was N166.385 billion, same as 111Bpts above the opening value.  Meanwhile, trading activities for the day produced 25 advancers and 19 lagers. NSEASI Year to Date gain is now 10.27% while the Market Capitalization Year to Date gain stood at N1.524 trillion same as 11.20% above the year’s opening value.

Investors’ mood brightened today as more traders agreed with market recovery idea. In our opinion, the positive performance was the outcome of increased numbers of traders who opted to buy the dip created by the long bearish moves. Although this is a good move, more traders must join tomorrow before the move can be sustained. In other words, the next trading day’s performance will finally confirm market consensus.

Another impacting factor is the report by the national bureau of statistics that announced lower Headline Inflation Figure for the month of January 2018. According to the report, the index reduced by 0.59% MoM and 15.37% YoY. In our opinion, the index will adjust further in the second month.

Investments should therefore be based on the possibility of equities releasing improve figures and payment of cash or scrip dividend. Please understand that the possibilities of low dividend yields are on the high side, especially now that most equities are trading above their respective book values. Safe Trade.

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Market Update

Nigerian Equities Market Update: Wednesday, 14th February, 2018

After seven straight bearish days, equities trading on the floor of The Nigerian Stock Exchange ended in the positive territory. Total point added through today’s trade was 111Bpts as NSEASI ended at 42,171.80 from 41,708.15. Safe NSE-Oil & Gas that shed points, other observed market indices gained. Thus, Week to Date market loss reduced to 222Bpts while Month to Date loss is now 490Bpts. See the index movement table for details.

Value gained by the market capitalization of the listed equities during today’s trading activities was N166.385 billion, same as 111Bpts above the opening value.  Meanwhile, trading activities for the day produced 25 advancers and 19 lagers. NSEASI Year to Date gain is now 10.27% while the Market Capitalization Year to Date gain stood at N1.524 trillion same as 11.20% above the year’s opening value.

Investors’ mood brightened today as more traders agreed with market recovery idea. In our opinion, the positive performance was the outcome of increased numbers of traders who opted to buy the dip created by the long bearish moves. Although this is a good move, more traders must join tomorrow before the move can be sustained. In other words, the next trading day’s performance will finally confirm market consensus.

Another impacting factor is the report by the national bureau of statistics that announced lower Headline Inflation Figure for the month of January 2018. According to the report, the index reduced by 0.59% MoM and 15.37% YoY. In our opinion, the index will adjust further in the second month.

Investments should therefore be based on the possibility of equities releasing improve figures and payment of cash or scrip dividend. Please understand that the possibilities of low dividend yields are on the high side, especially now that most equities are trading above their respective book values. Safe Trade.

Comment here