Operators and financial analysts have advised investors to go for the stocks of the Nigerian Aviation Handling Company Plc., United Bank for Africa Plc. and Zenith International Bank Plc., which accounted for 460.997 million shares, worth N5.273 billion in 2,513 deals at the Nigerian Stock Exchange (NSE)last week.
A fund manager, Global investment Limited, Mr. Magnus Okeke, said these stocks are among the best penny stocks with greatest potential for growth in the middle to long-term. He, however, advised that investors should watch out for the shares of the companies in the days ahead.
Speaking with our correspondent, a stockbroker, Mr. Ademola Adeyemi, said the three most traded stock for the week ended August 3, 2018, have demonstrated that they are investors’ best buy.
He, however, cautioned that investors must be careful in their quest to make investment choice, as happenings in the political scene have been hitting the stock market very hard.
Meanwhile, a total turnover of 1.391 billion shares worth N20.316 billion in 20,064 deals were traded last week by investors on the floor of the NSE, in contrast to a total of 1.417 billion shares valued at N16.739 billion that exchanged hands in previous week in 19,832 deals.
The Financial Services Industry led the activity chart with 824.153 million shares valued at N9.274 billion traded in 11,620 deals, thus contributing 59.23per cent and 45.65 per cent to the total equity turnover volume and value, respectively.
The Services Industry followed with 308.871 million shares worth N1.256 billion in 610 deals. The third place was occupied by Consumer Goods Industry with a turnover of 86.151 million shares worth N8.073 billion in 3,103 deals.
Trading in the Top Three Equities namely–Nigerian Aviation Handling Company Plc., United Bank for Africa Plc. and Zenith International Bank Plc. accounted for 460.997 million shares worth N5.273 billion in 2,513 deals, contributing 33.13 per cent and 25.95 per cent to the total equity turnover volume and value,
respectively.
Also traded during the week were a total of 2,304 units of Exchange Traded Products valued at N376, 541.65 executed in 16 deals, compared with a total of 344 units valued at N50, 021.24 that was transacted last week in 5 deals.
The NSE All-Share Index depreciated by 0.37per cent, while Market Capitalization appreciated by 0.38 per cent to close the week at 36,499.67 and N13.322 trillion, respectively.
