MARKET UPDATE FOR JANUARY 17, 2018
AHEAD OF EARNINGS SEASON, ROBUST DATA, INVESTORS POSITION IN VALUE STOCKS Mid-week's trading on the Nigeria Stock Exchange had a bullish outing to extend the rally, despite profit booking by market players to continue its volatility on a huge volume traded. There is also positive sentiments as reflected in the institutional money flow index which continues to look up with stronger energy with the benchmark index heading for a breakout of the 45,000 psychological line to confirm the continuation of its uptrend if market forces remain positive as market opens Thursday morning. The market closed positive after consolidating the early hour trading run-up, which were much during the afternoon session to close the day. During the session, the market hit an intraday high of 44,901.01 for the first time in the last 5 years from low of 43,956.76. As the bull rampage continues due to smart money repositioning ahead of earnings season, retail inve...