7 red days in a row: what to watch this Friday

The NGX closed lower again on Thursday, its 7th straight red session. The All-Share Index fell 0.82% to 248,042.50, and about ₦1.33 trillion came off market value in a single day.

What stood out:
• Aradel dropped 10% (the daily limit) to ₦1,377 and was a big drag on the index.
• eTranzact went the other way, up 10% to ₦12.10.
• Turnover jumped to ₦38.02bn from ₦22.95bn, so more money changed hands on the way down.
• Breadth was negative: 26 gainers vs 32 losers.

Into Friday's session, I'm watching:
1. Aradel: does it steady after the 10% drop, or keep sliding?
2. Volume: rising turnover on red days usually points to profit-taking after a strong year. The index is still up about 59% year to date.
3. Q3 results, as more companies report this month.

My takeaway: a 7-day dip in a year that's up about 59% looks more like profit-taking than panic so far. It's a good moment to check your plan rather than react to the headlines.

Are you buying the dip this week or waiting it out? Tell me in the comments.

Sources: Nairametrics, GTI Research

0 views

0 Comments

Sort by:

No comments yet — be the first!