Some financial experts and capital market observers have recommended the shares of Zenith Bank Plc, Champion Breweries and Skye Bank Plc to investors who are willing to make discerning investment decisions in 2018.
The Managing Director, Cowry Asset Limited, Mr. Johnson Chukwu, said investors should watch out for the shares of Zenith, Champion Breweries and Skye Bank as they were expected to yield more returns on investment.
“They should be part of the annual general meeting, and should be involved in the election of directors. Possibly, the investor should be involved in the election of members of the audit committee such that they would compel the management of the company who are their agents to run the firm efficiently and effectively,” he said.
An economist, Mr. Oluwatoyin Ajayi, said equity investors were the ones that would bear the brunt of poor corporate governance on the part of the management.
“Some of these companies that are having impressive records at the Nigerian Stock Exchange could be doing so due to their corporate governance policy. This is where the reputation of a firm comes in, as every investor craves for more ROI. But above all, everyone should be knowledgeable about the stock market,”
he said.
Meanwhile, the market opened for four trading sessions last week, as the Federal Government declared Friday 30, March 2018 (Good Friday) and Monday 2nd April 2018 (Easter Monday) as public holidays.
A total turnover of 1.541 billion shares, worth N16.647 billion, were traded last week in 18,805 deals by investors on the floor of the Exchange, in contrast to a total of 2.328 billion shares, valued at N28.927 billion that exchanged hands in the previous week, in 25,530 deals.
The Financial Services sector led the activity chart with 1.024 billion shares, valued at N10.946 billion, traded in 11,019 deals; thus contributing 66.44 per cent and 65.75 per cent to the total equity turnover volume and value respectively.
The Consumer Goods Industry followed with 213.704 million shares, worth N3.053 billion in 2,693 deals, while the third place was occupied by the Oil and Gas Industry with a turnover of 158.643 million shares, worth N908.260 million in 1,897 deals.
Trading in the Top Three Equities namely – Zenith International Bank Plc, Champion Breweries Plc and Skye Bank Plc accounted for 485.832 million shares, worth N5.851 billion, in 2,221 deals, contributing 31.53 per cent and 35.15 per cent to the total equity turnover volume and value respectively.
The NSE’s All-Share index and market capitalisation of listed equities appreciated by 0.08 per cent to close the week at 41,504.51 trillion and N14.993 trillion, respectively.
