The financial services industry dominated in volume terms at the end of lastweek’s transactions on the equities sector of the Nigerian Exchange Limited (NGX).
It led the activity chart with 2.1 billion shares valued at N21.8 billion traded in 14,008 deals; thus contributing 69.2 per cent to the total equity turnover.
Following the banking sector last week was the conglomerates industry, accounting for 398.6 million shares worth N1.2 billion in 3,129 deals.
The services industry ranked third with a turnover of 270.1 million shares worth N1.9 billion in 1,317 deals.
Trading in the top three equities namely Fidelity Bank Plc, Access Holdings Plc and Transnational Corporation Plc, (measured by volume) accounted for 1.3 billion shares worth N8.2 billion in 5,286 deals, contributing 43.8 per cent to the total equity turnover.
On the activity chart, losses recorded in the shares of top telecommunication player Airtel Africa (-6.0%) dragged the All-share index and market capitalisation by 0.1 per cent to close the week at 52,187.93 and N28.417 trillion respectively.
All other indices finished higher with the exception of NGX Main Board, NGX 30, NGX Oil &
Gas, NGX Lotus II, NGX Industrial Goods, and NGX Growth which depreciated by 0.64 per cent ,
0.09 per cent, 1.67 per cent, 0.66 per cent, 0.03 per cent and 0.32 per cent respectively while the NGX ASeM and NGX Sovereign Bond indices closed flat.
Codros Capital said: “Looking ahead, we believe investors will focus on the outcome of the MPC meeting scheduled to hold next week (this week) to gain further clarity on the movement of yields in the fixed income market.
Vetiva Dealings and Brokerage said: “Sectoral performance was relatively bullish this week (asides the telecoms and oil & gas sectors), as buy-interest in the banking sector was sustained.
“We expect a slow start next week as investor look to take profit on some recent gainers, as that has been the trend in the market lately.”
Afrinvest said: “We anticipate mild gains on the local bourse as investor hunt for bargains in relatively cheap and fundamentally sound stocks.”
A total of 2.9 million units of Exchange Traded Products (ETFs) valued at N55.7 million were traded in 44 deals compared to a total of 31,234 units valued at N2.9 million transacted last week in 68 deals.
44 equities appreciated in price lower than 48 equities in the previous week. Also, 27 equities depreciated in price lower than
30 in the previous week, while 85 equities remained unchanged, higher than 78 recorded in the previous week.
