Manage your investments with more confidence.
Open a trading account today and kickstart your investments.Get Started
Chiefly enhanced by two High Cap stocks, equities trading on the floor of the Nigerian Stock Exchange soared through the positive path, as the lead performance pointer- NSEASI added 189Bpts to its trading points, and closed at 39,592.29 from 38,858.99. Safe NSE-Insurance and NSE-Oil & Gas that shed points, other observed market indices in this report ended above their respective opening prices. Thus, Week to Date, the lead index is 162Bpts above opening, while the total gained points in the month September is now 95Bpts. See the index movement table for details.
Although the lead index was chiefly boosted by gains on the share price of Dangote Cement and Nestle Foods, supported by the likes of Presco, and the strong patronage recently seen on FBNH; the fact is that, judging by the lead index performance, the market might be rounding up the month of September on a positive note. In our opinion, the real positioning for the third quarter earnings expectations may have commenced. Recall that we had consistently sensitised our readers that the last two weeks will be impacted by investors taking positions against nine months earnings. If the sub-indices are good and reliable representatives of each sector they represent, then only NSE-Banking, NSE-Insurance and NSE-Oil & Gas indexes are in red MtD. Please understand that, should the month end in the green, then, history had agreed with the previous year, where the market also ended in the green by marginal points. We recommend that investors play the market by their expectations for third quarter earnings season.
The total value gained by the Market Capitalization of the listed equities during today’s trading activities was N382.055 billion, same as 189Bpts above the opening value. Meanwhile, trading activities for the day produced 24 ADVANCERS and 14 LAGERS. NGXASI Year to Date loss is now 168Bpts while the Market Capitalization Year to Date loss stood at N428.903 billion same as 204Bpts below the year’s opening value.
See Pdf Doc for Details