Zenith Bank, Transcorp, others lift NSE’s turnover by N12.3b

Transcorp hotels

Heavy transactions in the shares of Zenith International Bank, and Transnational Corporation of Nigeria (Transcorp), last week, lifted the volume of share traded, as a turnover of 1.061 billion shares worth N12.295 billion was recorded in 18,847 deals by investors on the floor of the Exchange.

This amount of shares traded, was however, higher than a total of 1.171 billion shares units valued at N11.458 billion that exchanged hands in 13,763 deals during the preceding week.

Last week, the financial services industry (measured by volume) led the activity chart with 802.195 million shares valued at N7.331 billion traded in 11,334 deals; thus contributing 75.62 per cent and to the total equity turnover volume.

The conglomerates followed with 109.378 million shares worth N174.604 million in 1,024 deals. The third place was occupied by consumer goods industry with a turnover of 62.992 million shares worth N2.405 billion in 3,021deals.

Trading in the top three equities measured by volume, Zenith International Bank Plc, Transnational Corporation of Nigeria Plc, and FBN Holdings Plc accounted for 317.099 million shares worth N3.223 billion in 3,823 deals, contributing 29.89 per cent to the total equity turnover volume.

Also traded during the week were a total of five units of Exchange Traded Products (ETPs) valued at N484.85 executed in 1 deal compared with a total of 869,680 units valued at N19.150 million transacted last week in 16 deals.

A total of 358 units of Federal Government Bonds valued at N344,610.97 were traded this week in seven deals, compared with a total of seven units valued at N16,486.85 transacted last week in one deal.

The NSE All-Share Index and Market Capitalisation depreciated by 1.99 per cent and 2.31 per cent to close the week at 32,459.17 and N11.187 trillion respectively.

Similarly, all other Indices finished lower during the week with the exception of the NSE Insurance and the NSE Industrial Goods Indices that appreciated by 1.10 per cent and 0.22 per cent while the NSE ASeM index closed flat.

About 16 equities appreciated in price during the week, lower than 40 equities of the previous week, while 51 equities depreciated in price, higher than 28 equities of the previous week. Also 105 equities remained unchanged same as 105 equities recorded in the preceding week.

Meanwhile, Coronation Asset Management Limited informed has announced that it received the approval of the Securities and Exchange Commission (SEC) to open the Initial Public Offering (IPO) of 400,000,000 units of N1.00 each at par of the Fixed Income Fund by Coronation Asset Limited.

The Offer, which according to the company will open to the public for 15 working days would commence on Monday, July 10th, and close on Friday July 28th.

In this article:
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