Some analysts and capital market operators have advised investors to invest in the shares of United Bank for Africa Plc, Mutual Benefits Assurance Plc and Access Bank Plc for the weeks ahead.
Reacting to the weekly performance last week, a capital market operator, Mr. Kehinde Shiloye, said the performances of the stocks last week are sustainable in weeks ahead.
He, however, said that potential investors must ask questions on the performance stocks, before taking a
decision.
An economic analyst and Managing Director, Cowry Asset Management Limited, Mr. Johnson Chukwu, said the equities rode on the back of regulatory protection by the Government and their primary regulators, to deliver a modest performance.
He said, “Taking a look at the weekly trend, you will notice that the banking sector reacts to the various policies within the fiscal and monetary policies. That is why the Federal Government must avoid anti-people
policies.”
Meanwhile, a total turnover of 1.331billion shares worth N20.835billion in 18,695 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.825 billion shares valued at N24.653 billion that exchanged hands last week in
23,148 deals.
The Financial Services Industry led the activity chart with 1.042 billion shares valued at N11.275 billion traded in 9,665 deals; thus contributing 78.32 per cent and 54.11 per cent to the total equity turnover volume and value, respectively.
The Consumer Goods Industry followed with 84.124 million shares worth N4.322 bllion in 3,691deals. The third place was occupied by Oil and Gas Industry with a turnover of 51.918 million shares worth N596.463 million in 2,307 deals.
Trading in the top three Equities namely, United Bank for Africa Plc, Mutual Benefits Assurance Plc, and Access Bank Plc accounted for 457.930 million shares worth N3.784billion in 1,469 deals, contributing 34.41 per cent and 18.16 per cent to the total equity turnover volume and value, respectively.
Also traded during the week were a total of 709,058 units of Exchange Traded Products valued at N3.845 million executed in 10 deals, compared with a total of 56,260 units valued at N376,387.48 that was transacted last week in six deals.
The NSE All-Share Index and Market Capitalisation depreciated by 0.06 per cent to close the week at 41,218.72 and N14.931 trillion respectively. Similarly, all other indices finished lower with the exception of NSE Premium, NSE Banking, NSE Industrial goods, and NSE Pension indices that appreciated by 0.12 per cent, 1.56 per cent, 1.06 per cent and 0.21 per cent
respectively.
