Following the performance of the three top traded equities at the Nigerian Stock Exchange for the week, ending August 10, 2018, some analysts and market operators have advised investors to consider the shares of the three equities for the weeks ahead. The top three equities are those of UBA, Wema and Zenith banks.
Managing Director of APT Securities and Funds Limited, Mallam Kurifi Garuba, said sectors that may be considered for juicy returns this month and beyond, include the fast moving consumer goods, insurance, banking, agribusiness, building material, oil and gas.
He explained that traders and investors, who understand the dynamics of the market and the importance of combining fundamental and technical analysis in making investment decisions in the stock market, would take this opportunity for short, medium and long-term gains.
Chief Operating Officer of InvestData Limited, Mr. Ambrose Omordion, said: “We expect some actions by the government in governance and fiscal front lines to impact the equities market positively, adding that this is very important in taking final investment decisions for the year.”
Meanwhile, a total turnover of 925.630million shares worth N8.333billion in 15,565 deals were traded last week by investors on the floor of the Exchange in contrast to a total of 1.391 billion shares valued at N20.316 billion that exchanged hands the previous week in 20,064 deals.
The Financial Services Industry (measured by volume) led the activity chart with 680.751 million shares valued at N5.283 billion traded in 8,524 deals; thus contributing 73.54 per cent and 63.40 per cent to the total equity turnover volume and value respectively.
The Healthcare Industry followed with 47.664 million shares worth N31.197 million in 531d deals. The third place was occupied by Conglomerates Industry with a turnover of 40.814 million shares worth N63.710 million in 728 deals.
Trading on the top three equities namely–United Bank for Africa Plc, Wema Bank Plc and Zenith International Bank Plc accounted for 260.554 million shares worth N2.790 billion in 2,266 deals, contributing 28.15 per cent and 33.48 per cent to the total equity turnover volume and value respectively.
A total of 7,787 units of Federal Government Bond valued at N8.005 million were traded this week in 11 deals compared with a total of 16,463 units valued at N18.200 million transacted last week in 27 deals.
The NSE All-Share Index depreciated by 2.89 per cent while Market Capitalization depreciated by 2.86 per cent to close the week at 35,446.47 and N12.941 trillion respectively.
