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Equities trading on the floor of the Nigerian Stock Exchange ended in the negative territory as the lead performance pointer NSEASI gave up 50Bpts of its trading points and closed at 34,643.65 from 34,818.01. It was a mixed performance amongst the observed market indices in this report as shown in the index movement table. Thus, Week to Date, Lead index is 112Bpts below opening, while the total gained points in the month of November is now 1,347Bpts, see the index movement table for details.
Major banking stocks dipped today despite the release of financial performance indices by Sterling Bank, Wema Bank, Guaranty Trust Bank and Access Bank. Please understand that the results are all positive against comparable years. We maintained that, as long as the petroleum pump price remains up, inflation keeps trending high, and MPR is not adjusted to couching the eroded interest (by inflation), the stock market will remain attractive to smart funds. Nevertheless, we reiterate that investors should only play equities with sound fundamental base.
The total value lost by the Market Capitalization of the listed equities during today’s trading activities was N91.105 billion, same as 50Bpts below the opening value. Meanwhile, trading activities for the day produced 19 ADVANCERS and 28 LAGERS. NSEASI Year to Date gain is now 2,906Bpts while the Market Capitalization Year to Date gain stood at N5.143 trillion same as 3,970Bpts above the year’s opening value.
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