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Consolidating positive moves, despite few gainers, equities trading on the floor of the Nigerian Stock Exchange ended in the positive territory, as the lead performance pointer, NSEASI added 11Bpt to its trading points, and closed at 39,490.06 from 39,448.46. It was a mixed performance amongst the observed market indices in this report. Thus, WtD, the lead index is 175Bpts above opening, while the total gained points in the month of August is now 245Bpts. See the index movement table for details.
Unlike other days of the week, when the market got a major boost from Airtel, today’s gain was achieved by few gainers, while the losers’ log expanded, although MTNN features amongst the gainers with 0.67% gain and NSE-30, the sub-index showing movements in the highly Cap stocks gained 7Bpts. In our opinion, the possibility of the market closing down on the next trading day is high. 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 N21.673 billion, same as 11Bpts above the opening value. Meanwhile, trading activities for the day produced 08 ADVANCERS and 24 LAGERS. NGXASI Year to Date loss is now 194Bpts while the Market Capitalization Year to Date loss stood at N481.865 million same as 229Bpts below the year’s opening value.
See Pdf for Details