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Boosted by Airtel Africa and MTNN, equities trading on the floor of the Nigerian Stock Exchange ended in the positive territory, as the lead performance pointer, NSEASI added 158Bpt to its trading points, and closed at 39,176.62 from 38,567.26. It was a mixed performance amongst the observed market indices in this report. Thus, WtD, the lead index is 94Bpts above opening, while the total gained points in the month of August is now 163Bpts. See the index movement table for details.
As noted above, the positive performance posted by the lead index on the exchange for the day, is mainly boosted by the gains recorded by two high cap listed equities. Please note that Airtel Africa led the gainers with 10% price appreciation while MTNN closed up by 2.38%. This situation had blurred the readings on the lead index trading pattern, nevertheless, it is encouraging that the advancers’ log maintained similar trend with what was seen yesterday. Meanwhile, as noted in our previous reports, we expect the market to be a little silent within this week, as major market movers in the name of half year incentives and policies (MPC & Headline Inflation) are not expected within the week. We also noted that, most expected earnings had already been released, safe those with Half year interim dividends and very few others. We therefore advise against panic selling and recommend that traders take full advantage of dropping prices.
The total value gained by the Market Capitalization of the listed equities during today’s trading activities was N317.483 billion, same as 158Bpts above the opening value. Meanwhile, trading activities for the day produced 21 ADVANCERS and 20 LAGERS. NGXASI Year to Date loss is now 272Bpts while the Market Capitalization Year to Date loss stood at N645.171 million same as 306Bpts below the year’s opening value.
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