Further enhanced by gains on the share price of Airtel Africa, equities trading on the floor of the Nigerian Stock Exchange ended in the positive territory, as the lead performance pointer, NSEASI added 69Bpt to its trading points, and closed at 39,448.46 from 39,176.62. Safe NSE-Consumer Goods Index that shed points, other observed market indices in this report gained. Thus, WtD, the lead index is 164Bpts above opening, while the total gained points in the month of August is now 234Bpts. 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 one high cap stock. Please note that, Airtel Africa rounded up the day’s trade with 4.90% gain. This situation had blurred the readings on the lead index trading pattern; nevertheless, it is encouraging that the advancers’ log grew over the losers. 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 N141.632 billion, same as 69Bpts above the opening value. Meanwhile, trading activities for the day produced 20 ADVANCERS and 15 LAGERS. NGXASI Year to Date loss is now 204Bpts while the Market Capitalization Year to Date loss stood at N503.539 million same as 239Bpts below the year’s opening value.

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