Zenith, others lift NSE’s volume as investors stake N14b in equities

Heavy transactions in the shares of some banks, especially GTBank and Zenith Bank, last week, lifted the volume of shares traded as a turnover of 872.892 million shares worth N14.016 billion was recorded in 19,047 deals by investors on the floor of the Nigerian Stock Exchange (NSE).

This volume of shares traded, was however higher than a total of 1.555 billion shares valued at N13.504 billion that changed hands in 18,409 deals during the preceding week.

Specifically, at the close of transactions last week, the financial services industry led the activity chart with 692.380 million shares valued at N8.940 billion traded in 11,464 deals; thus contributing 79.32 per cent and 63.78 per cent to the total equity turnover volume and value respectively.

The conglomerates industry followed with 63.658 million shares worth N123.149 million in 896 deals.

The consumer goods industry with a turnover of 61.676 million shares worth N3.034 billion in 3,469 deals.

Trading in the top three equities namely – Guaranty Trust Bank Plc, Zenith International Bank Plc and United Bank for Africa Plc) accounted for 270.638 million shares worth N7.213 billion in 3,902 deals, contributing 31.01 per cent to the total equity turnover volume

Also traded during the week were a total of 34,573 units of Exchange Traded Products (ETPs) valued at N2.091 million executed in 14 deals compared with a total of 60 units valued at N2, 265.60 transacted last week in 6 deals.

A total of 7,279 units of Federal Government Bonds valued at N7.139 billion were traded this week in 12 deals, compared with a total of 1,041 units valued at N1.040 million transacted last week in 10 deals.

The NSE All-share index and market capitalisation depreciated by 0.71 per cent to close the week at 36,587.31and N12.594 trillion respectively.

Similarly, all other Indices finished lower during the week with the exception of the NSE Banking and NSE Pension Indices that appreciated by 0.03 per cent and 0.02 per cent respectively while the NSE ASeM Index closed flat

23 equities appreciated in price during the week, lower than 41 of the previous week. 34 equities depreciated in price, higher than 23 equities of the previous week, while 114 equities remained unchanged higher than 107 equities recorded in the preceding week.

Meanwhile the NSE has announced that the UAC of Nigeria Plc has through its stockbrokers; Stanbic IBTC Stockbrokers Limited and Afrinvest Securities Limited submitted an application to the Exchange for approval and listing of a rights issue of 960,432,193 ordinary shares of 50 Kobo each at N16.00 per share.

According to the Exchange, the rights issue is on the basis of one new ordinary share for every two ordinary shares held. The qualification date for the rights issue was, Thursday October19, 2017.