…as Zenith, FBN Holding, Diamond emerge most traded stocks
Following the performance of the financial services industry for the week ended December 15, 2017, some financial experts and capital market commentators have advised both the local and foreign portfolio investors to consider the financial sector, when making a choice of investment.
An economist and a former stockbroker, Mr. Afolabi Oderinde, said Nigeria had investment potential, which when adequately harnessed, could boost the profitability of any quoted company at the Nigerian Stock Exchange.
“When companies are operating in a conducive environment, they will make profit and grow. It will attract investors and their shares will definitely do well. The right economic policy is a fundamental factor when you talk about the growth of any company,” a former banker, Mr. John-Mark Onyema, said.
“For those investors who may be looking for where to put in their money in the last quarter of the year, the banking sector, the Consumer Goods Industry, and the Conglomerates Industry remain the toast of investors any day,” he added.
However, a total turnover of 1.852 billion shares, worth N51.523 billion, were traded last week in 23,863 deals, in contrast to a total of 3.316 billion shares, valued at N36.451 billion that exchanged hands the previous week in 29,771 deals.
The Financial Services Industry (measured by volume) led the activity chart with 1.377 billion shares, valued at N17.137 billion, traded in 14,334 deals; thus contributing 74.35 per cent and 33.26 per cent to the total equity turnover volume and value respectively.
The Consumer Goods Industry followed with 175.880 million shares, worth N8.044 billion in 4,882 deals. The third place was occupied by Conglomerates Industry with a turnover of 134.882 million shares, worth N821.653 million in 1,108 deals.
Trading in the Top Three Equities namely –Zenith International Bank Plc, FBN Holdings Plc and Diamond Bank Plc (measured by volume) accounted for 632.027 million shares, worth N8.494 billion in 5,616 deals, contributing 34.13 per cent and 16.49 per cent to the total equity turnover volume and value, respectively.
Also traded during the week were a total of 1,120 units of Exchange Traded Products, valued at N14, 179.00 executed in four deals, compared with a total of 1.189 million units, valued at N11.662 million that was transacted last week in 30 deals.
A total of 5,382 units of Federal Government Bonds, valued at N5.680 million, were traded this week in 17 deals, compared with a total of 5,240 units, valued at N4.406 million, exchanged last week in 23 deals.
The Nigerian Stock Exchange’s All-Share Index depreciated by 2.09 per cent while the Market Capitalisation of listed equities appreciated by 0.04 to close the week at 38,436.08 and N13.678 trillion respectively. In addition, all other indices finished lower during the week with the exception of the NSE Consumer Goods, NSE Oil/Gas and NSE Lotus II Indices that appreciated by 0.68 per cent, 4.54 per cent, and 0.71 per cent respectively. The NSE ASeM closed flat.
Sixteen equities appreciated in price during the week, lower than 47 of the previous week. Forty-six equities depreciated in price, higher than 20 equities of the previous week, while 110 equities remained unchanged, higher than 105 equities recorded in the preceding week
