Market operators and financial analysts have advised investors to consider the shares of GTBank Plc, FBN Holdings and Mutual Benefits Assurance Plc for the weeks ahead.
The stocks of these firms accounted for 485.307 million shares worth N5.048bn in 2,683 deals, thereby contributing 44 percent and 51.11 percent to the total equity turnover volume and value.
Reacting to the development, a stockbroker, Emmanuel Igiebor, said such equities were usually investors’ delight because they appear to parade the most traded stocks in value and in volume over the years.
Every investor, he added, would prefer to invest in companies with impressive financial metrics.
He noted that it was important to have a grasp of such dividend-paying shares, which have potential returns on investment, adding that discerning investors can buy low and wait for a rebound to sell higher.
On his own part, a financial analyst, Johnson Odion said, “I see local equities bouncing back into the green territory if a market-friendly policy eventually emerges from the federal government.”
Meanwhile, it was a four-day trading week as the federal government declared 12 June a public holiday.
A total turnover of 1.103 billion shares worth N9.876bn was traded last week in 16,616 deals. This was in contrast to a total of 1.469 billion shares valued at N23.553bn that exchanged hands last week in 22,911 deals.
The financial services industry (measured by volume) led the activity chart with 814.292 million shares valued at N7.186bn traded in 8,352 deals, contributing 73.82 percent and 72.76 percent to the total equity turnover volume and value, respectively.
The oil and gas industry followed with 66.78 million shares worth N143.050m in 1,044 deals. The third place was the consumer goods industry, with a turnover of 57.842 million shares worth N1.022bn in 2,559 deals.
The NSE All-Share Index and market capitalization both appreciated by 0.67 percent to close the week at 25,182.67 and N13.137tn, respectively.
All other indices finished higher with the exception of NSE MERI Growth, NSE consumer goods and NSE Oil/Gas Indices which depreciated by 0.07 percent, 0.20 percent and 2.62 percent respectively, while NSE ASeM closed flat.
