Financial experts in the nation’s capital market have advised investors to consider the shares of GTBank, Zenith Bank and Sunu Assurances Nigeria Plc, whose shares accounted for 772.902 million worth N7.841 billion in 2,050 deals.
The Chief Executive Officer, Foresight Securities & Investment Ltd., Mr. Charles Fakrogha, while analysing the trading activities at the Nigerian Stock Exchange over the weekend, said the utmost objective of any investor is to buy stocks when the price is low and sell when the price is high to make profits. But every stock investor should realise that whether the capital market goes up or down, an investor must make gain.
Commenting, a stockbroker, Mr. Emmanuel Obadia, said by the outlook of capital market presently, investors should not panic. They should be more conscious of their investment pattern, develop good management decision and be more vibrant in participating in the market. He, however, advised investors on the three top traded stocks last week.
Meanwhile, a total turnover of 1.380 billion shares worth N15.149 billion in 13,478 deals were traded last week by investors on the floor of the Exchange in contrast to a total of 915.856 million shares valued at N9.835 billion that exchanged hands last week in 14,033 deals.
The Financial Services Industry (measured by volume) led the activity chart with 1.237billion shares valued at N9.725 billion traded in 7,404 deals; thus contributing 89.62 per cent and 64.19 per cent to the total equity turnover volume and value respectively.
The Consumer Goods Industry followed with 62.505 million shares worth N1.689 billion in 2,560 deals. The third place was Oil and Gas Industry with a turnover of 26.341 million shares worth 2.447 billion in 1,213 deals. Trading in the Top Three Equities namely–Sunu Assurances Nigeria Plc, Zenith Bank Plc and Guaranty Trust Bank Plc, (measured by volume) accounted for 772.902 million shares worth N7.841 billion in 2,050 deals, contributing 55.99 per cent and 51.76 per cent to the total equity turnover volume and value respectively.
The NSE All-Share index and Market Capitalization appreciated by 1.19 per cent to close the week at 32,841.69 and N11.990 trillion respectively. Similarly, all other indices finished higher with the exception of the NSE-Main Board Index, NSE Consumer Goods index, NSE Oil/Gas Index, NSE Industrial Goods Index and NSE Pension Index that closed lower by 0.57 per cent, 0.63 per cent.
