EQUITIES trading on the
With the listing last Thursday, equities market posted 9.1 per cent per cent week-on-week gain, the largest weekly return for two-years to become the world's best-performing stock market for the week.
The sentiments reflected on other stocks as investors rallied
Analysing by sectors, all sector indices closed positive, with the Industrial Goods (+22.6 per cent) index leading the pack, followed by the Banking (11.6 per cent), Insurance (+6.7 per cent), Oil and Gas (+5.4 per cent), and Consumer Goods (+1.6 per cent) indices.
A total turnover of 2.683 billion shares worth N32.646 billion in 30,956deals were traded by investors on the floor of the Exchange during the week under review, in contrast to a total of 2.309 billion shares value d at N21.675 billion that exchanged hands previously in 14,906 deals.
The Financial Services industry , measured by volume, led the activity chart with 2.035 billion shares valued at N18.592 billion traded in 18,876 deals; thus contributing 75.87 per cent and 56.95 per cent to the total equity turnover volume and value respectively. The Conglomerates industry followed with 225.720 million shares worth N504.123 million in 1,217 deals. The third place was Consumer Goods industry, with a turnover of 123.382 million shares worth N3.116 billion in 3,403 deals.
Trading in the
Looking ahead, experts expect profit-takers to dominate activities in the coming week. 'We still see significant legroom for a further rally as the elevated maturities from fixed income instruments hunt for investment vehicles. Nonetheless, we advise investors to cherry-pick fundamentally sound stocks.'
© Pakistan Press International, source