The bull run witnessed in the nation’s stock market in 2017 extended to the first month of 2018, defying profit taking and “January effects”, believed to be a time when investors develop apathy due to pressing demands after the December spending, as the All-Share Index (ASI) close the month with 13.71 per cent rise. Meanwhile a total turnover of 3.268 billion shares worth N28.123 billion were recorded in 35,761 deals by investors on the floor of the exchange last week, in contrast to a total of 7.157 billion shares valued at N42.545 billion that was exchanged in 39,037 deals during the preceding week. At the close of transactions last week, the financial services Industry (measured by volume) led the activity chart with 2.482 billion shares valued at N17.056 billion traded in 23,039 deals; thus contributing 75.96 per cent to the total equity turnover. The conglomerates industry followed with 375.113 million shares worth N1.047 billion in 1,968 deals. The third place was occupied by consumer goods industry with a turnover of 262.198 million shares worth N6.843 billion in 5,921 deals.Trading in the top three equities namely – FCMB Group Plc, Transnational Corporation of Nigeria Plc, and Skye Bank Plc (measured by volume) accounted for 1.181 billion shares worth N2.830 billion in 5,219 deals, contributing 36.14 per cent to total equity turnover volume.

Source: The Guardian February 05, 2018 03:00 UTC