Financial analysts and market observers have advised investors to buy into the shares of First City Monument Bank, United Bank for Africa and Oando, for the weeks ahead.
A stockbroker, Mr. David Adewunmi, said the market was reacting to sentiments, adding that the Nigerian Stock Exchange kicked off the year with a blistering start, even though the gains seemed to have tapered off a bit.
“But most of the stocks took the advantage of the positive growth. So I will advise that investors take advantage to invest in the shares of FCMB, UBA and Oando shares,”
he urged.
An investment analyst, Mr. Johnson Kolawole, also said emerging markets like Nigeria offer much more robust returns for foreign investors, compared to their home countries that give single-digit returns.
He explained that the NSE All-share Index was up by 40 percent in 2017, one of the best performing level in the world. “So it is not surprising that the capital market is picking up, and most stocks are doing well too. The shares of the three most traded stocks are high profile which potential investors must put into consideration when making a
choice”
A total turnover of 3.008 billion shares worth N30.296 billion in 24,036 deals were traded last week by investors on the floor of the Exchange, in contrast to a total of 1.415 billion shares valued at N19.644 billion that exchanged hands last week in 20,659
deals.
The Financial Services Industry led the activity chart with 2.539 billion shares valued at N23.510 billion traded in 13,179 deals; thus contributing 84.43 per cent and 77.60 per cent to the total equity turnover volume and value respectively.
The Oil and Gas Industry followed with 273.443 million shares worth N2.358 billion in 3,735 deals. The third place was occupied by Consumer Goods Industry with a turnover of 60.840 million shares worth N2.654 billion in 3,141 deals.
Trading in the Top Three Equities namely–FCMB Group Plc, United Bank for Africa Plc, and Oando Plc accounted for 1.816 billion shares worth N9.599 billion in 3,851 deals, contributing 60.37 per cent and 31.69 per cent to the total equity turnover volume and value respectively.
Also traded during the week were a total of 177,144 units of Exchange Traded Products valued at N2.809 million executed in 6 deals, compared with a total of 616,587 units valued at N9.185 million that was transacted last week in 21 Deals.
On the bond segment, a total of 13,735 units of Federal Government Bonds valued at N14.128 million were traded this week in 16 deals, compared with a total of 2,500 units valued at N2.367 million transacted last week in 10 deals.
The NSE All-Share Index and Market Capitalization depreciated by 0.28 per cent to close the week at 0,814.89 and N14.743 trillion respectively. Similarly, all other indices finished lower with the exception of NSE CG, NSE Premium, NSE-Main Board, NSE 30, NSE Banking, NSE Oil/Gas, and NSE Pension indices, which appreciated by 1.08 percent, 1.38 percent
respectively.
