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How Zenith Bank, Dangote Cement, Access Bank may continue to lead trading at NSE


Investment capacity, rising trust and sustained strong performance have been seen by experts as leading factors that will continue to propel consolidated trading companies at the Nigerian Stock Exchange to remain unbeaten for a long time at the floor of the exchange.

Leadership of the trio did not just begin from last week, but has been in the pipeline for some time now.

Business Hilights recalls that Dangote Cement Plc, Zenith International Bank Plc and Access Bank Plc emerged as the top three equities (measured by volume) traded on the Nigerian Stock Exchange last week.

Figures gathered from the exchange database showed that the companies accounted for 833.966 million shares worth N95.969bn in 3,203 deals, contributing 33.12 per cent and 84.10 per cent to the total equity turnover volume and value, respectively.

Besides, a total turnover of 2.518 billion shares worth N114.117bn in 23,546 deals were traded last week by investors on the floor of the Exchange in contrast to a total of 2.211 billion shares valued at N30.636bn that exchanged hands penultimate week in 26,287 deals.

The financial services industry (measured by volume) led the activity chart with 1.507 billion shares valued at N16.354bn traded in 12,511 deals; thus contributing 59.85 per cent and 14.33 per cent to the total equity turnover volume and value, respectively.

Further trajectory showed that industrial goods industry followed with 441.914 million shares worth N89.356m in 1,282 deals. The third place was occupied by the conglomerates industry with a turnover of 184.608 million shares worth N701.665m in 929 deals.

Just as exchange-traded products during the week stood at 1.166 million units of ETPs valued at N16.169m executed in 17 deals compared with a total of 1.732 million units valued at N13.711m transacted the penultimate week in 19 deals, a total of 5,850 units of Federal Government bonds valued at N5.702m were traded last week in seven deals, compared with a total of 750 units valued at N695,229.29 transacted in the penultimate week in eight deals.

Further discoveries by our correspondent showed that the market remained awash with buy sentiments as investors continued to take positions in companies that released impressive financial scorecards in the past weeks. In the coming week, “we expect market’s performance to be dictated by activities of banking sector stocks as investors anticipate the release of the half-year results and interim dividend declaration by the Tier 1 banks,” analysts at Meristem Securities noted.