After five consecutive bearish days, equities trading on the floor of The Nigerian Stock Exchange ended in the green territory. Total added point was 57Bpts as it closed at 36,605.30 from 35,403.92. NSE-Insurance and NSE-Industrial Goods shed points while other observed market indices gained. Being the first trading week of the new month, Week to Date and Month to Date returns is currently +28Bpts each. See the index movement table for details.
Value gained by the market capitalization of the listed equities during today’s trading activities was N70.709 billion, same as 57Bpts above the opening value. Meanwhile, trading activities for the day produced 22 advancers and 23 lagers. NSEASI Year to Date gain is now 32.49% while the Market Capitalization Year to Date gain stood at N3.026 trillion same as 32.73% above the year’s opening value.
The management of Guinness Nigeria Plc yesterday released its full year financial performance for the year ended 30th June, 2017. The result was a 23% growth in total revenue from N101.973 bill to N125.919 billion. Unlike the previous year when a loss was declared, the company reported 195% growth in its profit line from LAT of N2.015 billion to PAT of N1.923 billion. The directors recommend, subject to approval at the next AGM 64k cash dividend per ordinary shares of 50k each.
Please note that September marks the end of third quarter for equities with December financial year end. Thus, we are of the opinion that, this seasonal event should guide investments through the month.
Meanwhile, we maintained that traders should tread cautiously. Possible profits should be accumulated while strict care should be exercised against risky investment decisions. All trading rules should be followed to the later. Safe Trade.
By: Jeariogbe Tunde Segun