U.S. stocks are set to soar higher today, continuing yesterday’s rally after the benchmark S&P 500 index closed on a positive note.
Stock traders are keeping an eye on the U.S Federal Reserve minutes, as well as more earnings results from the retail segments.
At the close of Tuesday’s trading session, the Dow Jones Industrial Average declined 0.2%, while theS&P 500 added 0.2%, closing at an all-time peak, and the Nasdaq Composite index added 0.7%, its 18th record closing high since early June.
Quick fact: Futures Indexes like Nasdaq 1000 futures are contracts that derive their value from the underlying indices. Stock traders often use them in the short term periods, to predict the price direction before and after the close of the underlying stock trading session.
Stephen Innes, Chief Global Market Strategist at AxiCorp in a note to Nairametrics gave insights on the excitement investors are on American Stocks. He said:
“After more than a week of teasing, the enduring tech rally finally lifted the S&P 500 into record territory as investors remain undeterred about stock market concentrations or COVID-19 flashpoints around the world.
“US equities were stronger overnight – the S&P rose by 0.2% and set a new intraday and closing high. At the close, the S&P was at 3389.78 compared to its previous closing high of 3386.15 set on 19 February. So, I guess the high print offered some level of excitement during the dog days of summer.”
While the party on Wall Street continues, the mood in Europe is rather subdued. The DAX failed once again at the psychologically important 13,000 level, and now bulls are slowly losing control.
JAPAULGOLD, STERLNBANK surge, GUINNESS plunges
The All-Share Index decreased by -0.29% to close at 38,601.83 from 38,712.55 index points.
The Nigerian Stock Exchange market made another bearish run at the end of the trading session. The All-Share Index decreased by -0.29% to close at 38,601.83 from 38,712.55 index points.
- The Nigerian Stock Exchange market value currently stands at NGN 20.26Tr. Its Year-to-Date (YTD) returns currently stands at -4.14%.
- The market closed beneath expectation as JAPAULGOLD led 15 Gainers, and GUINNESS topped the chart of 18 Losers with a noticeable bearish movement by the NSE ASI.
- JAPAULGOLD up +8.70% to close at N0.75
- NAHCO up +7.39% to close at N 2.18
- STERLNBANK up +7.14% to close at N1.80
- STANBIC up +5.75% to close at N46.00
- CHAMS up +5.00% to close at N0.21
- GUINNESS down -9.91% to close at N24.10
- TRIPPLEG down -9.72% to close at N0.65
- NCR down -9.68% to close at N2.52
- CHAMPION down -9.09% to close at N2.00
- JAIZBANK down -7.69% to close at N0.60
Analysts’ predictions of a recovery in the market were halted by another bearish trend at the end of the trading session on Tuesday, though there is strong optimism that a recovery from the financial and consumer sectors will push the NSE-ASI back to profit.
Nairametrics advises cautious participation in the stock market in this era of growing uncertainties.
Japaul Gold mines gold for investors, as shares return N751 million for investors in two days
Japaul Gold shares deliver 19.05% gains in two trading sessions on the floor of the NGX.
Japaul Gold continues to excite investors as the shares of the gold exploration company gained an additional 8.7% during today’s session on the Nigerian Stock Exchange (now NGX), to close higher at N0.75 per share.
The 8.7% increase in the company’s share price today extended the total returns to all shareholders from their investments in the company’s shares to N752 million in just two trading sessions.
These gains have seen the market capitalization of the rebranded company with a key focus on exploration increase from N3.95 billion to N4.70 billion in two days.
Data tracked on the NGX website (previously NSE), from the market close last week Friday till the close of trade today revealed that the share price of Japaul Gold and ventures surged by 19.05%, from N0.63 per share to N0.75 per share.
In case you missed it
Nairametrics reported last week that Japaul Gold took the market by surprise in the first active trading week in the month of April, as the shares of the rebranded company surged by a whopping 40%, to lift the company’s capitalization by about N1.38 billion.
- Prior to the move up to N0.63 per share at the close of trade last week, the shares of Japaul Gold bottomed at N0.41 on the 31st of March 2021.
- This move presented bargain hunters with the golden opportunity to benefit from the upward price swings in the company’s shares.
What you should know
- The shares of the rebranded and restructured company with a new focus on Gold exploration as its new name suggests, rallied to a record 52-week high of N1.67 this year, on the 18th of January, 2021.
- At the current price, shares of Japaul Gold are trading 20.97% higher than what the company’s shares sold for at the close of trading activities on the 31st of December 2021.
Nairametrics | Company Earnings
Access our Live Feed portal for the latest company earnings as they drop.
- Friesland Campina Wamco Nigeria Plc announces AGM, proposes dividend of N6.74 per share.
- ETI appoints Akin Dada as Group Executive, Corporate & Investment banking.
- Union Homes REIT proposes final dividend worth N465.03 million for shareholders.
- GT Bank Plc holds FY 2020 investors presentation.
- Cornerstone Insurance Plc notifies stakeholders of late submission of financial statements.