Some market operators have described shares of Access Bank Plc, Zenith Bank Plc, Capital Oil Plc, and International Breweries Plc as hot stocks from which investors should expect higher returns during the week.
They advised that discerning shareholders should invest in the shares, which had been among the most traded stocks in past weeks.
A stockbroker, Mrs. Eniola Adegoke, explained that shares of Access Bank, Capital Oil, and Zenith Bank were hot stocks investors should not miss during the week.
She said, “The banks are in the league of Tier 1 banks and are investors’ delight, anytime any day. They are expected to deliver robust returns to investors in terms of dividends and price appreciation before the end of the first quarter of 2018, when they would release their 2017 financial results.”
A financial analyst and fund manager, Mr. Olubunmi Aluko, said the equities accounted for 1.677 billion shares, worth N20.413 billion in 2,476 deals, thereby contributing 54.48 per cent and 51.05 per cent to the total equity turnover volume.
He said, “The implication of this is that the equity market is picking up ahead of the electioneering year. Although, uncertainties cannot be ruled out, as investors might be skeptical on what stocks to go for, but if the current trend continues, there will definitely be greater ROI to shareholders.”
Meanwhile, a total turnover of 3.079 billion shares, worth N39.990 billion, were traded last week, in 23,086 deals, by investors on the floor of the Nigerian Stock Exchange. This was in contrast to a total of 2.170 billion shares, valued at N39.087 billion, that exchanged hands in 24,657 deals, the previous week.
The Financial Services Industry (measured by volume) led the activity chart with 2.288 billion shares, valued at N29.585 billion, traded in 13,188 deals; thus contributing 74.30 per cent and 73.98 per cent to the total equity turnover volume and value respectively.
The Oil and Gas Industry followed with 386.811 million shares, worth N1.273 billion in 1,573 deals. The third place was occupied by Consumer Goods Industry with a turnover of 205.245 million shares, worth N5.803 million in 4,959 deals.
Trading in the Top Three Equities namely: Access Bank Plc, Capital Oil Plc and Zenith International Bank Plc (measured by volume) accounted for 1.677 billion shares, worth N20.413 billion in 2,476 deals, contributing 54.48 per cent and 51.05 per cent to the total equity turnover volume and value respectively.
Also traded during the week were a total of four units of Exchange Traded Products, valued at N22, 400.00, executed in one deal, compared with a total of 50,547 units, valued at N4.593 million that was transacted last week in 12
deals.
A total of 2,823 units of Federal Government Bonds, valued at N2.642 million, were traded this week in 21 deals, compared to a total of 6, 574 units, valued at N6.332 million, transacted last week in 31 deals.
