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Thursday, April 25
“However, we advise investors to take positions in only fundamentally justified stocks as the weak macro environment remains a significant headwind for corporate earnings.” Afrinvest Securities said: “In the coming week, we expect the positive momentum to gain further traction on improved investor sentiment.” A total turnover of 2.187 billion shares worth N16.2 billion was recorded in 14,377 deals by investors on the floor of the exchange last week, in contrast to a total of 1.290 billion units valued at N13.921 billion that changed hands in 16,745 deals during the preceding week.
A total of 160,433 units of exchange-traded products (ETFs) valued at 52.35 million were traded in 23 deals last week compared to 9,728 units valued at N437,821.7 transacted in 18 deals during the preceding week.
The financial services industry (measured by volume) led the activity chart with 778.434 million shares valued at N5.591 billion traded in 7,183 deals; thus contributing 35.6 per cent and 34.55 per cent to the total equity turnover volume.
Twenty-two equities depreciated, lower than 23 equities in the previous week while 100 equities remained unchanged lower than 104 equities recorded in the previous week.
Also, 41,267 units of bonds, valued at N42.57 million were traded in 17 deals compared with a total of 60,929 units worth N62.8 million transacted during the preceding week in 27 deals.
Trading in the top three equities namely Transcorp Hotels Plc, Honeywell Flour Mill Plc and FBN Holdings Plc (measured by volume) accounted for 1.494 billion shares worth N6.9 billion in 1,017 deals, contributing 68.33 per cent to the total equity turnover.
For instance, the equities market rebounded after two sessions of losses last week Wednesday, occasioned by gains in many highly capitalised stocks, causing market capitalisation to soar by N382 billion..
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