Rounding up the last trading day of the week, trading activities on the floor of The Nigerian Stock Exchange closed in the negative territory. Thus, NSEASI gave up 13Bpts of its trading points, and closed at 25,182.67 from 25,215.04. Safe NSE-Insurance Index that gained, other observed market indices in this report closed below their respective openings. Thus, Week to Date, activities index is 67Bpts above opening, while the total lost points in the month of June is now 34Bpts. See the index movement table for details.
Still in a ranging mood, the market kept its struggle below a strong resistance, after today’s move, the lead index had spent twelve nights in a sideway trend. The implication of this pattern is that, most traders will be trapped beyond their target investment periods, and the level of indecisiveness around the market will be on the high side. Nevertheless, we maintained that, Points of trade at the moment includes; detecting policy impact on equities of choice, playing by closure dates of various listed equities that recently announced their full year cash dividend, identifying equities with half year incentives, and testing equities with March financial year end for dividend payment consistency.
Value loss by the Market Capitalization of the listed equities during today’s trading activities was N16.885 billion, same as 13Bpts below the opening value. Meanwhile, trading activities for the day produced 16 ADVANCERS and 17 LAGERS. NSEASI Year to Date loss is now 618Bpts while the Market Capitalization Year to Date gain stood at N178.427 billion same as 138Bpts above the year’s opening value.
Week Ended 11th June, 2020
It was a four-day trading week as the Federal Government of Nigeria declared Friday 12th June 2020 as Public Holiday to mark the Democracy Day celebrations. As shown in the index movement table, The NSE All-Share Index (NSEASI) and Market Capitalization both added 0.67% to their opening values and closed the week at 25,182.67 and N13.136 trillion respectively.
Thirty four (34) stocks closed the week green, while Thirty one (31) ended below their respective opening points, and Ninety Eight (98) closed on a flat note.
Neimeth led the advancers’ log for the week with 45.20% to close at N2.57 from N1.77. Royal Exchange followed with 20.00% and closed the week at N0.24 from N0.20. ABC-Transport, Prestige Assurance and Linkage Assurance completed the log with 19.51%, 18.64% and 17.78% respectively.
Losers log on the other hand was led by Japaul Oil with 16.67% as it closed at N0.25 from N0.30. Red Star Express followed with 13.39% loss, thus it closed at N3.30 from N3.81. Completing the top 5 price percentage losers for the week are; Moil Oil (11Plc), Honey Well Flour and C&ILeasing. Boc Gases was adjusted for N0.30 dividend during the week. Safe Trade.