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Consolidating positive moves, equities trading on the floor of the Nigerian Stock Exchange ended in the green, as the lead performance pointer- NSEASI added marginal 5Bpts to its trading points, and closed at 40,243.05 from 40,221.17. It was a mixed performance amongst the observed market indices in this report. Thus, Week to Date, the lead index is 5Bpts above opening, while the total gained points in the month October is now 5Bpts. See the index movement table for details.
The month of September ended in strong positive drive as investors positioned for expected nine months financials. Recall that, we had consistently noted that the month will experience positive surge towards the end. We expect the move to linger for some more trading days in the month of October. Please note that given the two positive strides posted as the month ends, Year to Date loss is almost wiped off. Meanwhile, since most of the results will be unveiled within the current month, and they are bound to be mixed, especially due to the mixed Fx regime within which it operated the third quarter of the month; thus, we expect a mixed performance within the month. We also expect the market to take advantage of the prevailing low interest yield as against the improving dividend yield around the market. On the strength of the above, we strictly recommend that investors play cautiously by carefully observing earnings trend from the fist quarter of the year through the second quarter, and predict with lowest possible confidence interval, expected performances in the third quarter.
The total value gained by the Market Capitalization of the listed equities during today’s trading activities was N14.449 billion, same as 7Bpts above the opening value. Meanwhile, trading activities for the day produced 23 ADVANCERS and 14 LAGERS. NGXASI Year to Date loss is now 7Bpts while the Market Capitalization Year to Date loss stood at N86.801 billion same as 41Bpts below the year’s opening value.
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