Jerking off the bears grip, the lead activities index of The Nigerian Stock Exchange added 104Bpts and rounded up trade at 35,207.89 from 34,846.82. Nevertheless, it was a mixed performance among the observed market indices. The outstanding performance swiftly wiped off all lost points during the week as the Week to Date returns journeyed 58Bpts into the green territory; although, Month to Date returned is still in the red to the tune of 84Bpts. See the index movement table for details.
Value gained by the market capitalization of the listed equities during today’s trading activities was N124.470 billion, same as 104Bpts above the opening value. Meanwhile, trading activities for the day produced 19 advancers and 20 lagers. NSEASI Year to Date gain is now 31.01% while the Market Capitalization Year to Date gain stood at N2.890 trillion same as 31.25% above the year’s opening value.
Dealing Members were today notified that the Rights Issue of 12,133,646,995 Ordinary Shares of N0.50 each at N4.10 per share of Union Bank of Nigeria Plc has opened for subscription. Going by the report, acceptance list opens on Wednesday, 20 September 2017 and is scheduled to close on Monday, 30 October 2017.
Today’s positive performance came after the Monetary Policy Committee concluded its meeting yesterday, where it was resolved to leave the Monetary Policy Rate (MPR) at 14.0% alongside all other policy parameters. The summary of the decision are; to Retain the MPR at 14%, Retain the CRR at 22.5%, Retain the Liquidity Ratio at 30.00%, and Retain the Asymmetric corridor at +200 and -500 basis points around the MPR.
We maintained that traders should tread cautiously around the market arena by holistically keeping all trading rules. Safe Trade.
By: Jeariogbe Segun Tuned