Operators and financial experts in the nation’s financial market have called on investors to consider the shares of the three most traded stocks last week. They are Zenith Bank Plc, Access Bank Plc and FBN Holdings Plc.
The Chief Research Officer of Investdata Consulting Limited, Ambrose Omodion, said investors are currently trading with caution because of fear of political risk and the believe that any perceived violence in the country may trigger panic and massive dumping of shares.
He said the development has spurred apathy and low investors confidence in the market as foreign investors that play dominant role have resorted to massive selloff of shares. He however commended the shares of the most traded stocks last week, urging investors to consider investing in them for the weeks ahead.
Meanwhile, a total turnover of 1.079 billion shares worth N18.196 billion in 14,372 deals were traded last week by investors on the floor of the Exchange in contrast to a total of 1.267 billion shares valued at N20.346 billion that exchanged hands last week in 15,088 deals.
The Financial Services Industry (measured by volume) led the activity chart with 909.849 million shares valued at N12.765 billion traded in 7,822 deals; thus contributing 84.32 per cent and 70.15 per cent to the total equity turnover volume and value respectively.
The Consumer Goods Industry followed with 52.651 million shares worth N3.342billion in 2,876 deals. The third place was Oil and Gas Industry with a turnover of 36.318 million shares worth N674.243 million in 1,324 deals.
Trading in the Top Three Equities namely Zenith Bank Plc, Access Bank Plc and FBN Holdings Plc, (measured by volume) accounted for 557.380 million shares worth N9.434 billion in 3,231 deals, contributing 51.66 per cent and 51.85 per cent to the total equity turnover volume and value respectively.
The NSE All-Share Index and Market Capitalisation appreciated by 0.23 per cent to close the week at 32,200.21 and N11.756trillion respectively.
