Financial stocks lift NSE’s turnover by N18.3 billion

Heavy transactions in the shares of some banks and insurance stocks, especially Wema Bank Plc and Unity Kapital, last week, buoyed the volume of shares traded, as a turnover of 11.907 billion shares worth N18.338 billion were recorded by investors on the floor of the Exchange.

This amount recorded was, however, higher than a total of 1,111 billion units valued at N7.448 billion that changed hands in 15,562 deals during the preceding week.

Specifically, at the close of trading last week, the financial services industry (measured by volume) led the activity chart with 11.692 billion shares valued at N14.734 billion traded in 13,094 deals; thus contributing 98.20 per cent  and 80.35 per cent  to the total equity turnover volume and value respectively.

The conglomerates industry followed with 71.891 million shares worth N175.603 million in 777 deals.

The third place was occupied by the consumer goods industry with a turnover of 69.718 million shares worth N1.179 billion in 3,019 deals.

Trading in the top three equities namely – Wema Bank Plc, Unity Kapital Assurance Plc and Zenith Bank International Plc (measured by volume) accounted for 11.006 billion shares worth N11.274 billion in 2,856 deals, contributing 92.43 per cent and 61.48 per cent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 294,047 units of Exchange Traded Products (ETPs) valued at N3.209 million executed in 42 deals, compared with a total of 72,054 units valued at N637, 635.25 transacted last week in 26 deals.

A total of 12,470 units of Federal Government Bonds valued at N14.348 million were traded in 8 deal this week. However, there were no transactions recorded on bonds last week.

The NSE All-Share Index and market capitalisation depreciated by 1.13 per cent to close the week at 25,694.79 and N8.839 trillion respectively.