Again, stockbrokers endorse banking, other stocks

Again, stockbrokers endorse banking, other stocks

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Some stockbrokers and capital market commentators have advised investors on the floor of the Nigerian Stock Exchange to go for the stocks of the financial services, conglomerates and the consumer goods industries when taking investment decision this week.
Reacting to the capital market report for the week ended February 9, 2018, Managing Director, APT Securities, Mallam Garba Kurfi, explained that movement of the major indicators of the market is very interesting, going by the performances of some stocks.
He said, “The Financial Services Industry, the Conglomerates and the Consumer goods industry led the activities chart last week and they are expected to move to greater height this week. This showed that investors’ confidence has improved in our market.
“We can now see both local and foreign investors participating at the capital market. The foreign investors understood our market better. When the economy and market were not favourable, we saw them ignoring our market. But now there is more positive response.”
An investment analyst and fund manager, Mr. Paul Ojekere, warned that it is important that as a retail or individual investor, one understands the investment options in the capital market.
“It is good that confidence has returned to the market, but we hope that the confidence would be sustained. Until we get to the political period, we cannot really say what will happen. There is always the fear in the electioneering year. This is because elections bring uncertainty, which the market may react to. It depends on how the politicians handle it.”
Meanwhile, a total turnover of 4.426 billion shares worth N24.236 billion in 29,573 deals were traded last week by investors on the floor of the Exchange, in contrast to a total of 3.268 billion shares valued at N28.123 billion, that exchanged hands the previous week, in 35,761 deals.
The Financial Services Industry (measured by volume) led the activity chart with 4.005 billion shares valued at N16.501 billion traded in 19,035 deals; thus contributing 90.49 per cent and 68.08 per cent to the total equity turnover volume and value, respectively.
The Conglomerates Industry followed with 167.723 million shares worth N464.656 million in 1,568 deals. The third place was occupied by Consumer Goods Industry with a turnover of 137.657 million shares worth N5.334 billion in 4,982 deals.
Trading in the Top Three Equities namely-Sterling Bank Plc, Skye Bank Plc and FCMB Group Plc (measured by volume) accounted for 2.520 billion shares worth N5.277 billion in 3,000 deals, contributing 56.95 per cent and 21.77 per cent to the total equity turnover volume and value, respectively.
Also traded during the week were a total of 1.200 million units of Exchange Traded Products valued at N6.951 million executed in 10 deals, compared with a total of 32,189 units valued at N1.299 million that was transacted last week in 19 deals.
On the bond segment of the market, a total of 779 units of Federal Government Bonds valued at N14.050 million were traded this week in 18 deals, compared with a total of 16,268 units valued at N17.053 million transacted last week
in 28 deals.
The NSE All-Share Index and Market Capitalisation depreciated by 3.39 per cent to close the week at 43,127.92 and N15.477 trillion, respectively. Similarly, all other indices finished lower during the week, with the exception of the NSE ASeM Index that closed flat.
About 32 equities appreciated in price last week, lower than 49 of the previous week’s. Sixty-four equities depreciated in price, higher than 42 equities of the previous week, while 85 equities remained unchanged, higher than 81 equities recorded in the preceding week.

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