Access, Zenith banks, others boost market indices by N21b
Transactions in the shares of some banks, especially Access Bank and Zenith Bank lifted the volume of shares traded on the floor of the Nigerian Stock Exchange (NSE), as a turnover of 2.4 billion shares worth N21.1 billion was recorded in 22,736 deals last week.
The figure was in contrast to a total of 2.1 billion shares valued at N17.869 billion, recorded in 21,762 deals during the preceding week.
Last week, the financial services industry (measured by volume), led the activity chart with 2.027 billion shares valued at N14.261 billion traded in 12,944 deals; thus contributing 83.1 per cent and 67.7 per cent to the total equity turnover volume and value respectively.
The natural resources industry followed with a turnover of 133.889 million shares worth N67 million in 16 deals.
The third place was occupied by the conglomerates industry with 96.5 million shares worth N589.3 million in 1,238 deals.
Trading in the top three equities– Access Bank Plc; Zenith International Bank Plc; and United Bank for Africa Plc (measured by volume), accounted for 1.297 billion shares worth N10.1 billion in 4,732 deals, contributing 53.2 per cent and 47.7 per cent to the total equity turnover volume and value respectively.
Also traded during the week were 11,357 units of Exchange Traded Products (ETPs) valued at N5.868 million, executed in 24 deals compared with a total of 10,627 units valued at N678,291.94 transacted the previous week in 22 deals.
A total of 3,489 units of Federal Government Bonds valued at N3. 674 million were traded this week in eight deals, while there was no bond traded last week.
The NSE All-Share Index and market capitalisation appreciated by 2.4 per cent to close on Friday at 29,511.08 points and N10.148 trillion respectively.
Similarly, all the indices rose during the week with the exception of the NSE Premium Index, NSE Oil/Gas Index, NSE Lotus II and NSE Industrial Goods Index by 0.95 per cent, 2.2 per cent, 0.31 per cent and 1.8 per cent respectively.
Also, 57 equities appreciated in price during the week, higher than 13 of the preceding week, while 20 equities depreciated in price, lower than 65 equities of the preceding week and 113 equities remained unchanged, higher than 112 equities recorded in the preceding week.