FBNH, Zenith, GTBank make top traded stocks list

February 22, 2021
11 Views

THE trio of First Bank of Nigeria Holdings (FBNH), Zenith Bank and Guaranty Trust Bank have made the list of top traded stocks by volume in the Nigerian Stock Exchange.

Breakdown of the stocks are as follows:  FBNH, 229.1 million units; GTBank, 110.6 million units and Zenith Bank with 99.2 million units while trades by value saw GTB on top, coasting home with N3.4 billion, Zenith N2.5 billion, and FBNH with N1.7 billion.

Meanwhile, performance in general was bearish across sectors as four of five indices under some brokers’ coverage closed in the red when compared week by week (w/w). On the other hand, the Oil & Gas and Banking indices closed in the green, up 4.6 performance and 0.5 performance, respectively, due to buying interest in Oando (+7.7 per cent), SEPLAT (+7.1 per cent), Ecobank Transnational Incorporated (+4.5 per cent), and Fidelity Bank (+3.3 per cent).

Traders say Nigerian equities entered the fourth day of a slide on Friday, dropping by 0.06 per cent as week-to-date loss topped N130 billion and investors continued to cast their glances in the way of improving yields in fixed income securities.

The bourse of Africa’s biggest economy has been caught in a tailspin since the start of February with 13 out of the 15 trading sessions recorded so far ending in losses.

Investors in the hunt for greater returns on investment are increasingly selling off stocks and ploughing the proceeds in bonds and treasury bills at a time majority of companies’ earnings reports for 2020 are yet to be issued.

“With the latest outcome of the NTB auction pointing towards yield elevation in the near term, we expect investors to trade cautiously while taking positions in stocks with attractive dividend yields,” analysts at broker Cordros Capital said this week.

“As a result, we expect the local bourse to exhibit a zig-zag pattern in the near term as the opposing forces of uptick in yields and full-year 2020 corporate earnings releases dictate market performance.”

Depreciation in the shares of FBN Holdings, Stanbic IBTC and WAPCO was largely responsible for the Friday’s underwhelming performance.

Falls in the insurance and the oil and gas indices by 1.83 per cent and 1.82 per cent, respectively, also stoked loss. A negative market breadth was recorded as 20 laggards emerged against 18 gainers.

The All-Share Index (ASI) edged lower to 40,186.70 index points, while market capitalization slipped to N21.026 trillion.

YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE

Cryptocurrency: Understanding The Craze, Threat

ON Friday, February 6, the Central Bank of Nigeria (CBN) rocked the boat with a circular that inadvertently highlighted how popular cryptocurrency transactions have become among Nigerians in recent years, judging by… 

ICYMI: Yoruba, Hausa Teachers Needed In US

The US Embassy and Consulate in Nigeria has announced that the services of Yoruba and Hausa teachers are needed in the United States. According to the Public Affairs Section of the US Mission Nigeria…

After Two Years, Daddy Freeze Apologises To Bishop Oyedepo
Daddy Freeze whose real name is Ifedayo Olarinde has apologised to Bishop Oyedepo who is the presiding bishop and founder of Living Faith Church aka Winners Chapel…

You may be interested

Abayi station attack: Police kill four, arrest eight, recover firearms
Entertainment
Entertainment

Abayi station attack: Police kill four, arrest eight, recover firearms

admin - February 24, 2021

The Police High Command, on Wednesday, said four persons were killed and eight others arrested during an attack on Abayi…

Gunmen kill four policemen, burn vehicle during attacks at police stations in Anambra
Entertainment
Entertainment

Gunmen kill four policemen, burn vehicle during attacks at police stations in Anambra

admin - February 24, 2021

Gunmen, on Wednesday, attacked two police stations in Anambra State, killing four policemen at the spot.Tribune Online gathered that the…

NDLEA appoints ex-EFCC spokesman, Femi Babafemi as Media Director
News
2 views
News
2 views

NDLEA appoints ex-EFCC spokesman, Femi Babafemi as Media Director

admin - February 24, 2021

Governor Seyi Makinde of Oyo State, on Wednesday, declared that starting from 2022 year, the government would declare Hijrah holiday…

Leave a Comment

Your email address will not be published.