Market Update vol 13
The Nigerian stock market had a mixed performance last week as the market reversed its bearish trend at the mid-week for bulls to take over. The negative moon in the market changed as smart money and traders accumulated stocks at low prices. This improved confidence across the market is attributable to expectations of the May 29 handover and inauguration of the new president. The composite IndexNSEASI andMarket capitalisation closedhigher at 34,439.52 and N11.63 trillion respectively,representing a 0.15 percent growth. NSEASI It is true that general market direction makes up 50 percent of movement in stock prices, meaning that market timing in equities’ trading and investing cannot be overemphasised, since it guides your entry and exit of the market and trades. Market bottoming out at this point is important after it seems to have lost direction due to profit taking. There is need to wait and see the in-coming gove...