INVESTORS TAKE ADVANTAGE OF PULL-BACKS, POSITION FOR 2017 YEAR-END, 2018 EARNINGS SEASON
Market Update for December 21 Trading on the Nigeria Stock Exchange had an up-market on Thursday to consolidate mid-week reversal move on a strong volatile retracement to finish the session higher on a good and positive technicals that signaled traders taking position for end of the year rally after the market had pullback before now. With the increasing number of institutional and foreign players in the market ahead of full year earnings reporting season, the possibility for down market is slim due to change in market holding structure of less retail players that will be selling to meet personal needs for the new year. On this note January effect will be subject to market forces, as volatility continue in 2018 but let the numbers posted for third quarter guide your positioning for dividend income as higher payout is likely to come with 2017 full year earnings reports. Trading started with a disappointing gap down and continued through the mid-morning to midday but retraced up ...