Rounding up the last trading day of the week, trading activities on the floor of The Nigerian Stock Exchange closed in the positive territory. Thus, NSEASI added 57Bpts of its trading points, and closed at 22,599.38 from 22,470.79. It was a mixed performance amongst the observed market indices in this report as shown in the index movement table. Thus, Week to Date, activities index is 141Bpts below opening, while the total gained points in the month of April is now 610Bpts. See the index movement table for details.
Undoubtedly, traders are already taking profit over the few gains recorded by the market. In our opinion, this is typical of a recovering market and should not result to panic in any way; rather, traders who missed out in the recovery moves are expected to take advantage of the pullback and join the market accordingly. We are of the opinion that, market may be enjoying some fund inflows, as traders take positions against the expected boom at the end of COVID-19 pandemic. Although we proposed a cautious play around the market, we reiterate that panicking off the market is not an intelligent investment option at the moment.
Value gained by the Market Capitalization of the listed equities during today’s trading activities was N67.014 billion, same as 57Bpts above the opening value. Meanwhile, trading activities for the day produced 16 ADVANCERS and 14 LAGERS. NSEASI Year to Date loss is now 1,581Bpts while the Market Capitalization Year to Date loss stood at N1.180 trillion same as 911Bpts below the year’s opening value.
Week Ended 24th April, 2020
As shown in the index movement table, The NSE All-Share Index (NSEASI) and Market Capitalization both gave up 1.41% of their opening values and closed the week at 22,599.38 and N11.777 trillion respectively.
Twenty five (25) stocks closed the week green, while Thirty three (33) ended below their respective opening points, and One Hundred and Five (105) closed on a flat note.
Cadbury led the advancers’ log with 18.52%% gain, thus it closed at N7.45 from N6.30. Wema Bank came next on the list with 10.71%, as it rounded up the week at N0.62 from N0.56. Nem Insurance, UPDCREIT University Press completed the top 5 price percentage gainers for the week with 10.00%, 9.68% and 9.38% respectively.
Losers’ log on the other hand was led by SKYAVN with 26.21% loss, followed by UACN with 17.33%. Others are Guinness, Champion Breweries and OANDO. See top performers’ log for details.
During The week, Capital Hotel, Fidelity bank, MTNN, FBNH were adjusted for dividend. Meanwhile, Access Bank, FCMB, Fidelity Bank and FBNH are all due for payment during the new week, while Union Bank will be adjusted for dividend before the end of the new week. Safe Trade.
Comment here