FeaturedMarket Update

Profit Taking Week; NSEASI Sheds 304Bpts WoW, Drags Prices to Attractive Points

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 140Bpts of its trading points, and closed at 40,439.85 from 41,014.30. It was a mixed performance amongst the observed market indices in this report. Thus, Week to Date, activities index is 304Bpts below opening, while the total lost points in the month of February is now 465Bpts. See the index movement table for details.

Although trading activities today produced more advancers against the laggers, the few highly capitalised equities that shed points strengthened the bear against market recovery. We are of the opinion that after the long pulled back, more active equities are becoming attractive to investors. Should this trend be sustained through the new week, we predict market recovery during the new week. We maintained that investors should play dividend stocks for portfolio defence and improved returns, during the audited earnings release season.

Value loss by the Market Capitalization of the listed equities during today’s trading activities was N300.521 billion, same as 140Bpts below the opening value.  Meanwhile, trading activities for the day produced 32 ADVANCERS and 09 LAGERS. NSEASI Year to Date gain is now 42Bpts while the Market Capitalization Year to Date gain stood at N99.136 billion same as 47Bpts below the year’s opening value.

Week Ended 12th February, 2021

As noted above, the NSE All-Share Index (NSEASI) and Market Capitalization both closed by 3.04% below their respective opening values, thus, each rounded up the week at 40,439.85 and N21.155 trillion respectively.

Week to Date, on the losing track, NSE-Banking Index led by giving up 8.76% of its trading points within the week. NSE-Insurance followed with 6.46% loss. NSE-Industrial Goods, NSE-Pension, and NSE-30 Index followed in that order.

Sixteen (16) listed equities closed the week green, while Fifty-Five (55) ended below their respective opening points, and Ninety-One (91) closed on a flat note.

Mutual Benefits led the price percentage gainers list for the week with 10.53% price appreciation, as it closed at N0.42 from N0.38 where it commenced the week’s trade. Morison followed on the log with 10.00%, thus it ended at N0.55 from N0.50. MCNICHOLES, UPDCREIT and UAC-Propertires completed the top 5 list for the week with 9.59%, 9.09% and 6.67% respectively.

Meanwhile, NNFM led the decliners log with 18.84% loss, thus it closed at N7.02 from N8.65. Nem Insurance followed with 18.00% loss, to close at N2.05 from N2.50. Royal Exchange, Guaranty Trust Bank and Livestock Feeds completed the top 5 list with 16.67%, 15.69% and 15.06% respectively.

During the week, the market received two full year financial numbers from Union Dicon Salt and Mutual Benefits Assurance. Safe Trade.

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FeaturedMarket Update

Profit Taking Week; NSEASI Sheds 304Bpts WoW, Drags Prices to Attractive Points

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 140Bpts of its trading points, and closed at 40,439.85 from 41,014.30. It was a mixed performance amongst the observed market indices in this report. Thus, Week to Date, activities index is 304Bpts below opening, while the total lost points in the month of February is now 465Bpts. See the index movement table for details.

Although trading activities today produced more advancers against the laggers, the few highly capitalised equities that shed points strengthened the bear against market recovery. We are of the opinion that after the long pulled back, more active equities are becoming attractive to investors. Should this trend be sustained through the new week, we predict market recovery during the new week. We maintained that investors should play dividend stocks for portfolio defence and improved returns, during the audited earnings release season.

Value loss by the Market Capitalization of the listed equities during today’s trading activities was N300.521 billion, same as 140Bpts below the opening value.  Meanwhile, trading activities for the day produced 32 ADVANCERS and 09 LAGERS. NSEASI Year to Date gain is now 42Bpts while the Market Capitalization Year to Date gain stood at N99.136 billion same as 47Bpts below the year’s opening value.

Week Ended 12th February, 2021

As noted above, the NSE All-Share Index (NSEASI) and Market Capitalization both closed by 3.04% below their respective opening values, thus, each rounded up the week at 40,439.85 and N21.155 trillion respectively.

Week to Date, on the losing track, NSE-Banking Index led by giving up 8.76% of its trading points within the week. NSE-Insurance followed with 6.46% loss. NSE-Industrial Goods, NSE-Pension, and NSE-30 Index followed in that order.

Sixteen (16) listed equities closed the week green, while Fifty-Five (55) ended below their respective opening points, and Ninety-One (91) closed on a flat note.

Mutual Benefits led the price percentage gainers list for the week with 10.53% price appreciation, as it closed at N0.42 from N0.38 where it commenced the week’s trade. Morison followed on the log with 10.00%, thus it ended at N0.55 from N0.50. MCNICHOLES, UPDCREIT and UAC-Propertires completed the top 5 list for the week with 9.59%, 9.09% and 6.67% respectively.

Meanwhile, NNFM led the decliners log with 18.84% loss, thus it closed at N7.02 from N8.65. Nem Insurance followed with 18.00% loss, to close at N2.05 from N2.50. Royal Exchange, Guaranty Trust Bank and Livestock Feeds completed the top 5 list with 16.67%, 15.69% and 15.06% respectively.

During the week, the market received two full year financial numbers from Union Dicon Salt and Mutual Benefits Assurance. Safe Trade.

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