Tuesday, September 20, 2011

NSE Market Review[29 Aug-2 Sept]

The market continued its slide this week with a slight uptick on only Friday. Trading may have been limited by the 2 day sala holiday. However, with the confluence of negative events: bombing of the UN by Boko Haram, nationalization of banks, etc its is difficult to identify the common cause for the markets current mood. 
Clearly, it represents a great buying opportunity, fundamentalists, value investors and contrarians will say. The PE Ratio as computed by BSL hovers around 25 for the first time in 3 years, the dividend yield appears to prefer an +8% bias. 

The NSE-ASI closed at 21,598.98 -1.70% (-3.29% in the previous week). Volume for the week was a cumulative 0.684 billion shares (1.712 billion shares in the previous week). Total market capitalization dipped below N7 Trillion for the first time since October 25, 2010 (10 months ago).

A premium profile on BroadStreetLagos.com gives you access to the data you need. Over the next few weeks we will discuss more indicators, phrases and companies.

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