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Get StartedActivities had continually maintained the way of the bear, even after the recovery attempt seen on the last trading day of the previous week. The Lead index trend had been a steady and gradual downtrend, which had lingered over some trading days. By today’s negative performance, the market approached a new lower low for the year. High expectations are on expected half year numbers, and the expected March accounts. Reportedly, total foreign transactions on the Nigerian Exchange Limited (NGX) dropped 27.59% from N28.02 billion (about $68.31 million) to N20.29 billion (about $49.33 million) between April 2021 and May 2021. Meanwhile, CBN reported that the manufacturing sector recorded a marginal growth, as the Purchasing Manager’ index rose to 49% in April as against 48.8% in March, 2021. Translational rate remained high, just as the Headline Inflation is on the high side, and purchasing power depressed. We maintained that investors should play cautiously around the market, playing by half year expectations and careful fundamental estimation of the equities of choice is an intelligent investment strategy.
The total value loss by the Market Capitalization of the listed equities during today’s trading activities was N34.327 billion, same as 17Bpts below the opening value. Meanwhile, trading activities for the day produced 13 ADVANCERS and 18 LAGERS. NSEASI Year to Date loss is now 667Bpts while the Market Capitalization Year to Date loss stood at N1.464 trillion same as 695Bpts below the year’s opening value.
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