Access Bank, Zenith, others lift NSE’s volume by N31.3 billion

Heavy transactions in the shares of some banks, especially Access Bank and Zenith International Bank, last week, enhanced the volume of shares traded, as a turnover of 1.282 billion shares worth N31.297 billion changed hands in 19,143 deals, higher than a total of 1.552 billion shares valued at N17.532 billion, exchanged hands in 17,785 deals during the preceding week.

Last week, the financial services industry (measured by volume) led the activity chart with 976.652 million shares valued at N11.266 billion traded in 10,121 deals; thus contributing 76.20per cent and 36.00per cent to the total equity turnover volume and value respectively.

Similarly, he Consumer Goods Industry followed with a turnover of 114.138 million shares worth N7.977 million in 3,467 deals.

The Oil and Gas Industry occupied the third place with 70.868 million shares worth N10.490 billion in 2,016 deals. Trading in the top three equities namely – Access Bank Plc., Zenith International Bank Plc and Guaranty Trust Bank Plc., (measured by volume) accounted for 486.911 million shares worth N7.688 billion in 3,963 deals, contributing 37.99per cent and 24.56per cent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 624 units of Exchange Traded Products (ETPs) valued at N235,319.49 executed in 20 deals compared with a total of 19,675 units valued at N1.296 million transacted last week in 21 deals.

A total of 2,284 units of Federal Government Bonds valued at N2.398 million were traded this week in 2 deals compared with a total of 3,450 units of Federal Government Bonds valued at N4.053 million traded in 3 deals in the previous week.

However, the NSE All-share index and market capitalization depreciated by 1.08per cent to close on Friday at 33,257.90 and N11.353 trillion respectively.

All the Indices finished lower during the week, with the exception of the NSE ASeM that rose by 0.17per cent to close at 1,213.52. 28 equities appreciated in price during the week, higher than 24 equities of the preceding week.

46 equities depreciated in price, higher than 42 equities of the preceding week, while 119 equities remained unchanged, lower than 127 equities recorded in the preceding week.

Meanwhile, Julius Berger Nigeria Plc has announced that Bilfinger SE, its minority shareholder with a holding of 33.4per cent has informed the board of the company of its decision to dispose of its remaining stake in JBN to long term Nigerian investors on or before the end of June 2015.

JBN states that this proposed transaction will lead to the exit of the representative of Bilfinger SE from the Board of JBN. The Company added that the decision is based on Bilfinger’s strategic realignment from a construction company to an engineering and services group in the last decade which saw Bilfinger SE divest totally from its construction activities.

“The Board of Julius Berger Nigeria Plc and the Executive Management strongly believes that the exit of Bilfinger SE will not impact on JBN in view of the strategic business directions being undertaken, which would sustain and increase JBN’s efficiency.” and responsiveness as well as set basis for a future of long lasting success.”