Heavy transactions in the shares of some companies, especially Access Bank, and Capital Oil last week, lifted the volume of shares traded, as a turnover of 3.079 billion shares worth N39.990billion were recorded in 23,086 deals by investors on the floor of the Exchange.
The volume of shares traded, was however higher than a total of 2.170 billion shares valued at N39.087 billion that was exchanged in 24,657 deals during the preceding week.
Specifically, at the end of transactions last week, trading in the shares of Access Bank Plc, Capital Oil Plc, and Zenith International Bank Plc, accounted for 1.677 billion shares worth N20.413billion in 2,476 deals, contributing 54.48 per cent to the total equity turnover volume.
Also, the Nigerian Stock Exchange (NSE) All-share index and market capitalisation, appreciated by 0.68 per cent to close the week at 43,167.86 and N15.508trillion respectively.
Similarly, all other indices finished higher during the week with the exception of the NSE Premium, NSE ASeM, NSE Banking, and NSE Insurance indices that depreciated by 0.25 per cent, 1.76 per cent, 1.08 and 0.74 per cent respectively
Analysts at Investdata Consulting Limited, opined that the market would become more vibrant, as a result of market players positioning for the last month of the quarter, and taking first quarter profit.
The Chief Research Officer of the company, Ambrose Omodion, said: “We must however note that market outlook for the coming months are dicey, this being a pre-election year in a market dominated by foreign and institutional investors.
“However, invest wisely, using dates, bids, offers and volume when taking decisions. Here you have to combine your fundamentals and technical analysis tools to boost your chances of trading and investing profitably, while protecting your capital.
“Managing risk and protecting capital at this point is very important, so you will be able to determine when to buy or sell by watching the stocks and the market, using technical analysis. More importantly, let numbers emanating from companies and dates guide you into profitable investment.”
By Helen Oji
The Guardian Newspaper March 12th, 2018