Investors stake N8.2 billion on equities in five trading days

At the end of last week’s transactions, a turnover of 989.6 million shares worth N8.2 billion was recorded in 9,617 deals by investors on the floor of the exchange last week.

The volume of shares traded was however lower than a total of 1.4 billion units worth N11.8 billion that changed hands in 22,982 deals during the preceding week.

The financial services industry (measured by volume) led the activity chart with 603.7 million shares valued at N3.9 billion traded in 9,337 deals, thus contributing 61 per cent to the total equity turnover volume.

The conglomerate industry followed by 102.2 million shares worth N133.9 million in 846 deals. The consumer goods industry ranked third with a turnover of 80.9 million shares worth N1.3 billion in 2,902 deals.

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Trading in the top three equities namely Transnational Corporation of Nigeria Plc, Sterling Bank Plc, and FBN Holdings Plc (measured by volume) accounted for 210.2 million shares worth N554.4 million in 1,414 deals, contributing 21.2 per cent to the total equity turnover.

Also, a total of 17,550 units of Exchange Traded Products (ETPs) valued at N34 million were in 36 deals.

A total of 702,021 units valued at N709.3 million were traded in 17 deals compared with a total of 29,324 units valued at N30.8 million exchanged in 12 deals during the preceding week.

Consequently, the Nigerian Exchange Limited (NGX) All-share index and market capitalisation appreciated by 0.7 per cent to close the week at 38,810.75 and N20.221 trillion respectively.

All other indices finished lower except NGX-Main Board, NGX Premium, NGX Lotus II, and NGX Sovereign Bond indices which appreciated by 1.07 per cent, 0.30 per cent, 0.29 and 0.45 per cent respectively, while the NGX Growth Index closed flat.

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Twenty-three equities appreciated during the week, lower than 37 in the previous week.

36 equities depreciated, higher than 35 equities in the previous week while 97 equities remained unchanged higher than 84 equities recorded in the previous week.

Reacting to market performance last week, the Chief Research Officer of Investdata Consulting Limited, Ambrose Omordion urged investors to keep their eyes on companies with strong earnings potential that will guarantee a capital appreciation in the long run.

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“Growth and value stocks should be the attraction in the market now, considering the strength of the numbers emanating from the companies and what is happening in the FX market.

“This is because some companies are net beneficiaries of the Central Bank of Nigeria policy stopping the sale of foreign exchange to Bureaux De Change operators.”

Cordros Capital said: “Considering the positive performance in the local bourse this week, we believe earnings from the big banks in the coming week will sustain the positive market sentiments.”


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