Operators and some financial analysts have advised investors to go for the shares of Access Bank Plc, Zenith International Bank Plc and Nigerian Aviation Handling Company Plc, in the weeks ahead.
An economist and market commentator, Mr. Kehinde Adedayo, said investors at the moment was advised to consider the three most traded stocks last week.
“Although there is a lot of market sentiment because of the upcoming general election next year. Even at that, investors had two options of investing for long-term or short term, taking into consideration, the macro-economic environment.
It is either they sell down in order to avert huge losses, and to invest back when eventually the market rebounds,” he noted.
A capital market operator, Mr. Michael Ajuwon, said investing in most traded stocks for the week is good, but that it does not mean that the shares of those companies are doing well.
Ajuwon said any investor without a stockbroker is investing blindly, warning that investors must be careful to understudy the policy direction of the Federal Government before taking investment decision.
Meanwhile, a total turnover of 1.219 billion shares worth N17.333 billion in 17,362 deals were traded last week by investors on the floor of the Exchange, in contrast to a total of 1.842 billion shares valued at N16.594 billion that exchanged hands last week in 18,941 deals.
The Financial Services Industry led the activity chart with 842.823 million shares valued at N9.587 billion traded in 9,231 deals; thus contributing 69.15 per cent and 55.31 per cent to the total equity turnover volume and value respectively.
The Consumer Goods Industry followed with 113.667 million shares worth N4.657 billion in 3,120 deals. The third place was occupied by Services Industry with a turnover of 105.623 million shares worth N519.813 million in 593 deals.
Trading in the top three equities namely–Access Bank Plc, Zenith International Bank Plc and Nigerian Aviation Handling Company Plc accounted for 497.482 million shares worth N6.619 billion in 2,251 deals, contributing 40.82 per cent and 38.19 per cent to the total equity turnover volume and value respectively.
Also traded during the week were a total of 79,304 units of Exchange Traded Products valued at N1.491 million executed in 18 deals, compared with a total of 25,220 units valued at N454,438.90 that was transacted last week in 4 deals.
The NSE All-Share Index and Market Capitalization depreciated by 0.62 per cent to close the week at 37,392.77 and N13.546 trillion,
respectively.
