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Slowing down positive moves, equities trading on the floor of the Nigerian Stock Exchange ended in the positive territory, as the lead performance pointer, NSEASI added marginal 3Bpt to its trading points, and closed at 38,927.83 from 38,917.99. It was a mixed performance amongst the observed market indices, as shown in the index movement table. Thus, WtD, the lead index is 99Bpts above opening, while the total gained points in the month of August is now 99Bpts. See the index movement table for details.
The three days positive moves seem to have hit a hard rock, as NGXASI suddenly slowed gaining pace; this is coming after it broke a major resistance and pronounced a new trend. Kindly understand that, most listed equities with December financial year had unveiled their numbers, except the financial institutions with interim dividend policy, and very few others. Meanwhile, by history, earnings from such banks usually hit the market from the first and second month of September. Also, the two major economic numbers expected within the month of August are expected in the third and fourth week. Recall that we mentioned in our previous reports that, July Headline Inflation release date is 16th August, while the Half year GDP figures will be release on the 26th August. On the strength of these, we recommend heightened cautiousness around the market arena, since trading information will be scarce for the better part of this week and next.
The total value gained by the Market Capitalization of the listed equities during today’s trading activities was N5.128 billion, same as 3Bpts above the opening value. Meanwhile, trading activities for the day produced 16 ADVANCERS and 19 LAGERS. NGXASI Year to Date loss is now 333Bpts while the Market Capitalization Year to Date loss stood at N774.791 million same as 368Bpts below the year’s opening value.
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