Reversing the market back to normal pace, the share price of Dangote Cement today reversed good portion of points gained on Thursday as it topped the price percentage losers log with 7.85%. Thus, the Lead Index of the Nigerian Stock Exchange reflected the loss by giving up 233Bpts to close the last trading day of the week at 27,756.67 point. Nevertheless, observed market indexes were mixed. See the index movement table for details.
Today’s trading activities produced 21 advancers and 12 lagers. NSEASI YtD return is currently -3.09% while the Market Capitalization YtD return stood at –N316.033 billion.
Recall that we noted the rapid speed induced on the market by the positive performance posted by Dangcem on Thursday. By today’s reversal, market seems to have returned to its real pace and strength. Traders should be careful to guide against hasten exit as more active equities still portend support for the weak bull.
Please note that we maintain our position that traders should pay more attention to their trades and seriously mind their stops (up (+) or down (-)). This is will help in avoiding a bull trap situation. Investment greed should be avoided at all cost.
Volume Index for today’s activity is 1.17 while buy volume and sell volume is estimated at 2% and 98% respectively.