Some financial analysts have recommended the shares of Wema Bank Plc, Chams Plc and Zenith Bank to investors in the weeks ahead.
The stock of these companies accounted for 1.948 billion shares worth N3.449 billion, which investors traded last week in 1,642 deals, thereby contributing 74.08per cent and 26.96percent to the total equity turnover volume and value respectively.
A fund manager Mr. Iruka Joseph said investing in stocks is a profitable business, if you understand the market fundamentals. He said discerning investors can buy low and wait for a rebound to sell higher.
“To do this, investors must see beyond the temporary market volatility and critically assess the best-in-class stocks affected by panic sales to benefit from market in the next financial year.
A stockbroker and capital market analyst, Mr. Dipo Lawal said, an investor should choose stocks with consistent dividend profile, stable earnings, and stock market liquidity, notwithstanding the distractions in the political climate and macroeconomic challenges.
Meanwhile, a total turnover of 2.629 billion shares worth N12.794 billion was traded last week in 15,558 deals. This was in contrast to a total of 1.198 billion shares valued at N12.273 billion that investors exchanged hands the previous week in 18,293 deals.
The Financial Services Industry (measured by volume) led the activity chart with 2.346 billion shares valued at N8.602 billion traded in 9,331 deals; thus contributing 89.23per cent and 67.23percent to the total equity turnover volume and value respectively. The ICT Industry followed with 140.531 million shares worth N28.117 million in 113 deals.
The third place was Consumer Goods Industry with a turnover of 54.152 million shares worth N2.099 billion in 2,613 deals.
The NSE All-Share Index depreciated by 0.31per cent while the Market Capitalization appreciated by 0.51per cent to close the week at 31,041.42 and N11.672 trillion respectively.
Twenty-one equities appreciated in price during the week, lower than thirty-two in the previous week. Thirty-six equities depreciated in price, lower than thirty-eight equities of the previous week, while one hundred and eleven equities remained unchanged, higher than ninety-eight equities recorded in the preceding week.
