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Equities trading on the floor of The Nigerian Stock Exchange rounded up on a flat note, as the lead performance pointer NSEASI closed at 28,344.04 from 28,344.33. It was a mixed performance amongst the observed market indices in this report. Thus, Week to Date, lead index is 25Bpts below opening while the total gained points in the month of October is now 561Bpts. See the index movement for details.
After four consecutive bearish days (generally believed to have been started by profit taking activities), traders seem to be sitting on the fence, thus, keeping the lead index in a relaxing mood second day running. In our opinion, traders are currently playing safe from possible under-performance numbers expected from listed equities with December financial year; especially now that the inflation figure is on the rise. Please understand that, it is generally believed that, the true impact of the lock down will be more pronounced on third quarters numbers. We therefore maintained that traders should tread cautiously around the market.
The total value gained by the Market Capitalization of the listed equities during today’s trading activities was N150.621 million, same as 0Bpts below the opening value. Meanwhile, trading activities for the day produced 13 ADVANCERS and 12 LAGERS. NSEASI Year to Date gain is now 560Bpts while the Market Capitalization Year to Date gain stood at N1.856 trillion same as 1,433Bpts above the year’s opening value.
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