Treading further green zones, equities trading on the floor of the Nigerian Stock Exchange ended in the green territory. Total point added to the market trading points is 38Bpts as it rounded up at 38,144.02 from 37,999.56. Safe NSE-Premium and NSE-Industrial goods that shed points, other observed market indices gained. Week to Date, the lead activities index had gained 192Bpts while the total gained points in August is now 641Bpts. See the index movement table for details.
Value gained by the market capitalization of the listed equities during today’s trading activities was N49.791 billion, same as 38Bpts below the opening value. Meanwhile, trading activities for the day produced 21 advancers and 23 lagers. NSEASI Year to Date gain is 41.93% while the Market Capitalization Year to Date gain stood at N3.900 trillion same as 42.18% above the year’s opening value.
Despite the winding up of the half year financial score cards, trading activities had maintained positive trend. We believed that chiefly impacting the positive move is the increasing fragility of investing in the manufacturing sector of the economy. Investors seem to have resorted to lowering their respective investment risk by patronizing the equities market and most probably the fixed income market.
Smartly playing along with the persistent bull that is currently roaming the market arena with heightened cautiousness is an ultimate investment strategy. Please understand, that, markets with prolonged bull’s dominance (such as we are currently witnessing in our market) will easily respond to fundamental news (regardless of the weight of such news). On the strength of these, we strictly recommend that traders set and follow strictly; the entry, exit, stop loss point and profit regions. This action, we believe, will reduce the risk of getting hook in most positions. Safe Trade.