Some financial experts and market operators in the nation’s financial industry have advised investors on the shares of Zenith Bank International, Fidelity Bank and FBN Holding, which emerged as the most active with 87.42million shares worth N2.46billion, last week.
The Managing Director/ Chief Executive Officer, Cowry Asset Management Limited, Mr. Johnson Chukwu, said when investing, measuring future performance should be purely based on merit. “Investors should avoid concentrating all their money on a particular stock because it has done well in the past. Diversifying your investments across different stocks, bonds or funds helps in reducing your risk. A good investor must be discerning enough to study stock movement. The banking stock is always the investor’s toast anytime, any day.
Managing Director, APT Securities, Mallam Kurfi Garba, said indigenous companies, such as Zenith Bank and FBN Holding, had foreign investors holding significant stakes in them, as they were operating in a strategic sector.
“This will encourage domestic and retail investors to buy in and deepen the market. It is also important that as a retail or individual investor, you understand the investment options open to you in the capital market,” he said.
A total turnover of 2.444 billion shares, worth N36.665 billion, were traded last week in 26,712 deals by investors on the floor of the Nigerian Stock Exchange in contrast to a total of 3.079 billion shares, valued at N39.990 billion that exchanged hands in the previous week in 23,086 deals.
The Financial Services Industry (measured by volume) led the activity chart with 2.044 billion shares, valued at N26.330 billion, traded in 16,788 deals; thus contributing 83.61 per cent and 71.81 per cent to the total equity turnover volume and value respectively.
The Consumer Goods Industry followed with 168.973 million shares, worth N8.111 billion in 4,927 deals. The Oil and Gas Industry occupied the third place with a turnover of 94.742 million shares, worth N825.871 million in 1,641 deals.
Trading in the Top Three Equities namely – FBN Holdings Plc, Zenith International Bank Plc and Fidelity Bank Plc (measured by volume) accounted for 1.084 billion shares, worth N17.852 billion in 7,074 deals, contributing 44.34 per cent and 48.69 per cent to the total equity turnover volume an value, respectively.
Also traded during the week were a total of 1.889 million units of Exchange Traded Products, valued at N10.512 million, executed in four deals, compared with a total of 50,547 units, valued at N4.593 million that were traded last week in 12 deals.
A total of 40,566 units of Federal Government Bonds, valued at N44.313 million were traded this week in 29 deals, compared with a total of 6,574 units, valued at N6.332 million, traded last week in 31 transactions.
The NSE’s All-Share Index and market capitalisation of listed equities depreciated by 2.85 per cent and 3.26 per cent to close the week at 41,935.93 and N15.00 2 trillion respectively. Similarly, all other indices finished lower during the week with the exception of the NSE Insurance Index that appreciated by 0.25 per cent.
