The Equities Market for the week under review closed on a high as NSE ASI recorded a gain of 1.80 per cent (WoW). Market forces interacted such that a previous close of 36,703.58 points closed higher at 37,365.91 points.
The equities market recorded ASI closes of 37,692.60 points, 36,600.07 points, 36,608.76 points, and 36,688.75 points on Monday, Tuesday, Wednesday and Thursday’s trading sessions respectively.
The Year-to-date returns logged at 39.04 per cent, representing an incremental change of 6.75 per cent (WoW). Market capitalization was recorded at 12.993 trillion naira for this week from 12.763 trillion last week.
Transaction levels by volume and value both dropped by -52.36 per cent and -20.09 per cent respectively to close at 871 million shares valued at 5.04 billion naira.
The equities market swung northward week-on-week as expected and despite the drop in both the volume and value of trades relative to the previous week’s, the market was still able to hold up a positive outlook this week. This suggests a general good performance in the market for the week under review as reflected by the sectoral indices.
“We, therefore, expect a level of bargain hunting in next week’s trading sessions to persist, but speculation will be the order of the day as the week runs out,” Analyst as at APT Securities said..
Based on projections from analysis, they noted that given the relatively better diversified outlook of the Nigerian economy, it was expected that the positive form of the economy as suggested in the recently released Q3 results for this year should continue to positively impact the equities market.
They therefore noted that with investors will start taking position as we have seen some losses so far.
and then