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Suspending bearish moves, equities trading on the floor of The Nigerian Stock Exchange rounded up in the positive territory, as the lead performance pointer-NSEASI added marginal 2Bpts to its trading points, and closed at 38,774.93 from 38,766.61. It was a mixed performance amongst the observed market indices. Thus, Week to Date, the lead activities index is 37Bpts below opening, while the total lost points in the month of April is now 69Bpts. See the index movement table for details.
The market resumed the new month on a bearish note, as the lead indicator closed down in the two trading days observed so far. In our opinion, two factors contributed largely to the negative outing on NSE, first is the price adjustment for the recently announced cash dividend, while the second factor are traders reshuffling positions between qualified dividend, awaiting closure dates and expected earnings. This is coming when the exchange finally received the nod of the Securities and Exchange Commission for the appointments of Chief Executives of its emergent entities, post-demutualization. Oscar who just concluded his tenure as the NSE boss after the January conjugal bliss become the Group Chief Executive Officer of the newly created Nigerian Exchange Group Plc; while Temi Popoola, becomes Chief Executive Officer of the Nigerian Exchange Limited; and Tinuade Awe emerges CEO of NGX Regulation Limited.
The total value lost by the Market Capitalization of the listed equities during today’s trading activities was N3.878 billion, same as 2pts above the opening value. Meanwhile, trading activities for the day produced 12 ADVANCERS and 27 LAGERS. NSEASI Year to Date loss is now 372Bpts while the Market Capitalization Year to Date loss stood at N769.975 billion same as 366Bpts below the year’s opening value.