It was a four-day trading week as the Federal Government of Nigeria declared Monday, 2nd of October, 2017 as public holiday in commemoration of the 57th Independence Day of the country.
A total turnover of 1.493 billion shares, worth N15.107 billion in 14,549 deals were traded last week by investors on the floor of the Exchange, in contrast to a total of 1.326 billion shares valued at N14.086 billion that exchanged hands last week in 14,703 deals.
The Financial Services Industry led the activity chart with 1.288 billion shares, valued at N10.121 billion, traded in 8,334 deals; thus contributing 86.30 per cent and 66.99 per cent to the total equity turnover volume and value, respectively.
The Consumer Goods Industry followed with 89.259 million shares worth N3.154 billion in 2,760 deals. The third place was occupied by Conglomerates with a turnover of 49.361 million shares worth N113.737 million in 491 deals.
Trading in the Top Three Equities namely–FCMB Group Plc, Diamond Bank Plc and FBN Holdings Plc accounted for 659.042 million shares worth N1.312 billion in 1,933 deals, contributing 44.14 per cent and 8.69 per cent to the total equity turnover volume and value, respectively.
Reviewing the sectoral activities for the week, a financial analyst, Mr. Mike Uzor, said the financial services industry and the Consumer Goods are two vibrant sectors that investors needs to watch out for.
Uzor said the recent market correction supported low valuation in the market, despite the mixed sentiments, as many stocks still remain undervalued on the strength of the intrinsic value that should guide the investing public as they seek to invest profitably for the rest of the year.
On how a retail investor can minimise risk, President, Chartered Institute of Stockbrokers, Oluwaseyi Abey, said as a retail or individual investor, one must understand the investment options in the capital market.
“Do you want to invest in equities or bonds? Would you prefer index tracked funds, mutual funds or Exchange Traded
“Understanding all your investment options and the risks and potential returns that come with each option would help you in making a more informed decision.
“A common rule is that if the investment is sounding too complicated, then it could be too complicated to put your money in,”