Rounding up the last trading day of February, equities trading on the floor of The Nigerian Stock Exchange enjoyed major boost from gains on few highly capitalized equities and wiped off more than half of its total loss for the month. Total point gathered today was 244Bpts as it closed at 43,330.54 from 42,299.56. Safe NSE-Banking and NSE-Oil&Gas that shed points, other observed market indices gained. Week to Date market return is now in the green by 178Bpts while Month to Date loss reduced to 228Bpts. See the index movement table for details.
Value gained by the market capitalization of the listed equities during today’s trading activities was N369.982 billion, same as 244Bpts above the opening value. Meanwhile, trading activities for the day produced 31 advancers and 23 lagers. NSEASI Year to Date gain is now 13.30% while the Market Capitalization Year to Date gain stood at N1.940 trillion same as 14.26% above the year’s opening value.
Although today’s performance was chiefly enhanced by gains on some highly capitalized equities, more listed equities feature on the gainers’ log. A bullish candlestick formation was also noticed at the end of today’s trade. The candle which swallowed the previous day red candle is normally signal of a bullish run. Nevertheless, considering the sudden emergence of such candle, it is very important to wait for the confirmation of same. Searching for possible fundamental boost is also recommended.
The Nigerian Stock Exchange today released the foreign direct investments statistics into the nation’s bourse. The figures shows an increase of 318% increase in total transactions in January 2018 as against January 2017. Good enough, it was established that domestic trading outran FDI by 15.64% for the period as total domestic trade in January was estimated at N228.05 billion as against FDI of N166.39 billion. This is an outstanding performance by the domestic investors. Safe Trade.
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