It led the activity chart with 634 million shares valued at N6.4 billion traded in 8,540 deals. Thus, it contributed 67 per cent to the total equity turnover and value.
A turnover of 944 million shares worth N22 billion was recorded in 18,615 deals by investors on the floor of the Exchange, in contrast to a total of 3.8 billion units valued at N27 billion that changed hands in 20,333 deals during the preceding week. Analysts attributed the gain to investors’ sustained interest in MTN Nigeria and Dangote Cement , even as the Month To Date and Year To Date returns increased to +2.0.per cent and +6 per cent, respectively.
“Overall, we advise investors to seek trading opportunities in only fundamentally justified stocks as the weak macro story remains a significant headwind for corporate earnings.”