Following a deluge of shares at the Nigerian Stock Exchange last week, market operators have advised investors to channel their investments to the stocks of some financial service, consumer goods and conglomerates sub-sector firms this week.
Based on the performances of the shares, a financial expert at Sterling Capital Limited, Mr. Sewa Wusu, hinted that stocks of Fidelity Bank Plc, United Bank for Africa Plc, Access Bank Plc, and Dangote Flour Mills, among others, were expected to give more returns on investments in terms of upward price movement for discerning investors.
“The market is gradually returning to profit as more companies are becoming bullish, based on better earnings posted at the end of the third quarter in 2017. Some of them are ‘penny stocks’, which have increased by 20 per cent in the last four days. That means with little fund, investors could have much shares and might decide to sell when the prices go up,”
he said.
Meanwhile, a total of 1.39 billion shares, worth N16.403 billion were traded by investors last week, in 19,195 deals, in contrast to a total of 872.892 million shares, valued at N14.016 billion that exchanged hands in 19,047 deals, in the previous week.
The Financial Services Industry (measured by volume) led the activity chart with1.116 billion shares, valued at N10.153 billion, traded in 9,942 deals; thus contributing 80.05 per cent and 61.90 per cent to the total equity turnover volume and value respectively.
The Consumer Goods Industry followed with 95.005 million shares, worth N3.251 billion, in 4,443 deals. The third place was occupied by Conglomerates Industry, with a turnover of 90.194 million shares, worth N645.159 million in 1,136 deals.
Trading in the Top Three Equities, namely – UBA, Access Bank and FBN Holdings (measured by volume) accounted for 515.058 million shares, worth N4.458 billion in 3,088 deals. This contributed 36.95 per cent and 27.17 per cent to the total equity turnover volume and value respectively.
Also traded during the week were a total of 104,544 units of Exchange Traded Products, valued at N11.506 million, executed in seven deals, compared with a total of 34,573 units, valued at N2.091 million, transacted last week in 14
deals.
A total of 559 units of Federal Government Bonds, valued at N485,802.83, were traded this week in five deals, compared with a total of 7,279 units, valued at N7.139 billion, transacted last week in 12 deals.
The NSE’s All-Share Index depreciated by 0.34 per cent, while the market capitalisation of listed equities appreciated by 0.2 per cent to close the week at 36,462.26 and N12.619 trillion
respectively.
