Manage your investments with more confidence.
Open a trading account today and kickstart your investments.Get Started
For the second time within the week, equities trading on the floor of the Nigerian Stock Exchange ended in the negative territory, as the lead performance pointer, NSEASI gave up 72Bpts of its trading points and closed at 39,022.52 from 39,306.47. Safe NSE-Banking and NSE-Oil & Gas indexes that closed in the green, all other observed market indices in this report closed below their respective opening points. Thus, WtD the lead index is 116Bpts below the opening point, while the total lost points in the month of May is now 204Bpts. See the index movement table for details.
Despite the positive Headline Inflation released yesterday by the National Bureau of Statistic, activities on the floor of The Nigerian Stock Exchange maintained negative stride. Decliners log widened as more traders opted for profit taking. We maintained that the outcome of the 279th MPC meeting, schedule to take off on the 24th May, and end on the 25th May, 2021, is a major event that will dictate market performance till the half year earnings season commence on the exchange. Nevertheless, we do not rule out the possible effect of the next phase of Covid-19 on market performance and the nation’s economy at large. On the strength of the above factors, we recommend a cautious play around the market arena; high priority should be placed on equities with half year interim dividend policy; also, first quarter numbers should be used as guide while positioning against expected earnings.
The total value loss by the Market Capitalization of the listed equities during today’s trading activities was N148.000 billion, same as 72Bpts below the opening value. Meanwhile, trading activities for the day produced 16 ADVANCERS and 22 LAGERS. NSEASI Year to Date loss is now 310Bpts while the Market Capitalization Year to Date loss stood at N717.299 billion same as 341Bpts below the year’s opening value.
See Pdf Doc for Details