By Ngozi Amuche
Market operators and some financial experts have advised investors to consider the shares of Zenith Bank Plc, Guaranty Trust Bank Plc and Wema Bank Plc for the weeks ahead.
The stocks of these firms accounted for 840.903 million shares worth N15.266 billion in 2,938 deals, thereby contributing 75.44 per cent and 63.82 per cent to the total equity turnover volume.
A stockbroker, Mr. Olusegun Ademola, said that the banking sector has always been investor’s delight, as it appears to parade the most traded stocks in value and in volume over the years.
According to him, it is important to have a grasp of such dividend paying shares, which has potential returns on investment, adding that discerning investors can buy low and wait for a rebound to sell higher.
A financial analyst, Mr. Johnson Odion said, “I see local equities bouncing back into the green territory if a market friendly policy eventually emerges from the federal government.
Meanwhile, a total turnover of 1.771 billion shares worth N28.036 billion was traded last week in 18,660 deals. This was in contrast to a total of 7.476 billion shares valued at N91.107 billion which investors exchanged hands in 17,192 deals.
The Financial Services industry (measured by volume) led the activity chart with 1.336 billion shares valued at N17.894 billion traded in 8,783 deals; thus contributing 75.44 per cent and 63.82 per cent to the total equity turnover volume and value respectively.
The Consumer Goods industry followed with 115.835 million shares worth N5.282 billion in 2,969 deals. The third place was Industrial Goods industry with a turnover of 90.705 million shares worth N1.707 billion in 1,991 deals.
Trading in the Top Three Equities namely, Zenith Bank Plc, Guaranty Trust Bank Plc and Wema Bank Plc (measured by volume) accounted for 840.903 million shares worth N15.266 billion in 2,938 deals, contributing 47.49 per cent and 54.45 per cent to the total equity turnover volume and value respectively.
The NSE All-Share Index and Market Capitalization appreciated by 0.39 per cent to close the week at 29,966.87 and N13.206 trillion