Lagos – Mr Charles Fakrogha, the Chief Executive Officer of Foresight Securities & Investment Ltd, on Monday, urged shareholders to take advantage of low prices of stocks to reposition their investments at the Nigerian Stock Exchange (NSE).

Fakrogha said in Lagos that the current free fall of equities was an opportunity in disguise for investors to increase their stocks.

According to him, the advice became imperative following the investment under current inherent in a depressed capital market.
“By the outlook of capital market presently, the market has remained in a lull and investors should not panic.

“They should be conscious of their investment pattern, develop good management governance and be more vibrant in participating in the market,” he said.

Meanwhile, the All-Share Index of the NSE depreciated by 1063.71 points or 3.56 per cent last week to close at 28,814.62 points from the 29,878.33 points achieved in the preceding week.

The Market Capitalisation dipped by N332 billion or 3.24 per cent to close at N9.909 trillion from N10,241 trillion recorded in the preceding week.

P.Z Industries topped the losers’ chart in percentage terms by 26.55 per cent or N7.92 to close at N21.91 per share.

E-Tranzact trailed by 20.76 per cent or 71k to close at N2.71, while Cutix Plc dropped by 17.68 per cent or 29k to close at N1.35 per share.

Dangote Sugar led the gainers’ table in percentage terms by 20.80 per cent or N1.25 to close at N7.26 per share.

Sky Bank followed with 35k to close at N2.34, while Wema Bank gained 11.25 per cent or 9k to close at 89k per share.

Overall investors bought 2.051 billion shares worth N17.87 billion in 21,762 deals compared with 4.304 billion shares valued at N20.048 billion traded in 20,219 deals in the previous week.

The Financial Services sector remained the most active, accounting for 1.733 billion shares worth N12.004 billion traded in 12,855 deals.

The conglomerates sector came second on the week’s activity chart, trading 153.481 million shares worth N367.99 million in 1.269 deals.

NAN reports that the Consumer Goods sector followed with 77.577 million shares valued at N3.38 million in 3,496 deals.