Equities trading on the floor of The Nigerian Stock Exchange kicked off the new month on a positive note as it added a total of 56Bpts to its trading points, thus, moving from 36,580.29 to 36,887.20. All observed market indices took sided with the lead performance index as they all ended the day in the green territory. Week to Date market is up by 117Bpts. See the index movement table for details.
Value gained by the market capitalization of the listed equities during today’s trading activities was N71.613 billion, same as 56Bpts above the opening value. Meanwhile, trading activities for the day produced 23 advancers and 21 lagers. NSEASI Year to Date gain is now 37.26% while the Market Capitalization Year to Date gain stood at N3.519 trillion same as 38.06% above the year’s opening value.
After today’s positive performance, market is now facing a seemingly weak resistance (formed recently when market activities ranged) and may bow to same today. Please note that on stronger bullish outing the said resistance could be defiled.
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.