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Investors’ stake N27.9 billion in equities in five trading days

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Nigeria Stock Exchange, Lagos

Heavy transactions in the shares of financial stocks last week, buoyed the volume of shares traded, as a total turnover of 2.940 billion shares worth N27.924 billion were recorded in 28,570 deals by investors on the floor of the Exchange in contrast to a total of 4.426 billion units valued at N24.236 billion that was exchanged in 29,573 deals during the preceding week.
 
Last week, the financial services industry (measured by volume) led the activity chart with 2.174 billion shares valued at N17.033 billion traded in 19,013 deals; thus contributing 73.96 per cent to the total equity turnover .
   
The services industry followed with 232.482 million shares worth N216.990 million in 734 deals.
 
The conglomerates industry ranked third with a turnover of 170.422 million shares worth N499.400 million in 1,578 deals.
 
Specifically, trading in the top three equities namely – Linkage Assurance Plc, Skye Bank Plc and FCMB Group Plc (measured by volume) accounted for 809.798 million shares worth N1.130 billion in 2,551 deals, contributing 27.55  per cent to the total equity turnover volume.
 
However, the NSE All-share Index and Market capitalization depreciated by 1.13 per cent to close the week at 42,638.83 and N15.302 trillion respectively.

Similarly, all other indices finished lower during the week with the exception of the NSE Pension Index that appreciated by 0.08 per cent while the NSE ASeM Index closed flat.
 
Analysts at Investdata Consulting Limited said expectations are high for short term positioning for Q4 earnings reports and continued volatility as traders jump back into the market on low price attraction ahead of dividend declaration.
 
The Chief Research Officer of the company, Ambrose Omodion said“ The relatively low interest rates in the money market and sell-off in the bond market will boost inflow into stock market as fund managers play earnings season for quick returns in high dividend paying stocks.
   
“However, we would like to reiterate that investors should go for equities with intrinsic value, especially during this season that dividend payment is approaching.

We advise investors to allow numbers guide their decisions while repositioning for the rest of the year’s trading activities, especially now that stock prices remain volatile amidst improving company, economic and market fundamentals.”
   
Also traded during the week were a total of 25,586 units of Exchange Traded Products (ETPs) valued at N3.004 million executed in 11 deals, compared with a total of 1.200 million units valued at N6.951 million that was transacted last week in 10 deals.
   
A total of 2,785 units of Federal Government Bonds valued at N2.627 million were traded this week in 16 deals, compared with a total of 14,779 units valued at N14.050 million transacted last week in18 deals.
 
30 equities appreciated in price during the week, higher than 23 of the previous week. 48 equities depreciated in price, lower than 64 equities of the previous week, while 94 equities remained unchanged higher than 85 equities recorded in the preceding week.


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