FBN Holdings, Zenith, others lift NSE’s turnover by N13b

Transactions in the shares of some banks, especially FBN Holdings and Zenith International bank, last week, lifted the volume of shares traded, as a turnover of 1.041 billion shares worth N13.007 billion were recorded in 13,407 by investors on the floor of the Exchange in contrast to a total of 793.557 million units, valued at N7.152 billion that changed hands in 12,831 deals during the preceding week.

Specifically, the financial services industry (measured by volume) led the activity chart with 857.050 million shares valued at N6.772 billion traded in 7,916 deals; thus contributing 82.36per cent and 52.06per cent to the total equity turnover volume and value respectively.

The consumer Goods Industry followed with 64.553 million shares worth N4.217 billion in 2,479 deals.

The conglomerates Industry ranked third with a turnover of 62.745 million shares worth N585.655 million in 638 deals.

Trading in the top three equities namely – FBN Holdings Plc, Zenith International Bank Plc and Diamond Bank Plc (measured by volume) accounted for 475.120 million shares worth N3.682 billion in 3,026 deals, contributing 45.66 per cent and 28.31per cent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 49,895 units of Exchange Traded Products (ETPs) valued at N916,710.90 executed in 38 deals, compared with a total of 2,143 units valued at N1.734 millions transacted last week in 35 deals.

A total of 8,262 units of Federal Government Bonds valued at N9.151 million were traded this week in 7 deals. There was no transaction recorded last week.

The NSE All-Share Index and market capitalization depreciated by 1.83per cent and 1.81per cent to close the week at 27,617.45 and N9.495 trillion respectively.

Similarly, all other Indices finished lower during the week, except the NSE Insurance index, while NSE ASeM Index closed flat.

21 equities appreciated in price during the week, higher than 19 equities of the preceding week. 41 equities depreciated in price, same as the number of equities that declined in the previous week, while 128 equities remained unchanged, lower than 130 equities recorded in the preceding week.

Meanwhile, a total volume of 3,500,000,000 were added to the shares of Standard Alliance Insurance Plc from its convertible preference shares which was done in December 2009 at N0.50k per share.

With this, the outstanding volume of shares of the company currently stands at 11,993,173,450.