Financial stocks boost NSE’s turnover by 87.8%

The financial services industry dominated in volume terms at the end of last week’s transactions on the trading floor of the Nigerian Stock Exchange (NSE). It led the activity chart with 1.365 billion shares valued at N6.507billion traded in 10,880 deals; thus contributing 87.76 per cent to the total equity turnover volume.

Following the financial sector last week was the consumer goods industry with 70.496 million shares worth N5.637billion in 3,398 deals. The conglomerates industry ranked third with a turnover of 58.779 million shares worth N141.929million in 706 deals.

Specifically, trading in top three equities namely – Diamond Bank Plc, Zenith International Bank Plc, and Transnational Corporation of Nigeria Plc (measured by volume) accounted for 985.762 million shares worth N2.841billion in 3,401 deals, contributing 63.39 per cent to the total equity turnover volume.

Consequently, a total turnover of 1.555 billion shares worth N13.504billion were recorded in 18,409 deals by investors on the Exchange in down from a total of 1.493 billion units valued at N15.107billion that changed hands in 14,549 deals during the preceding week.

Also traded during the week were a total of 60 units of Exchange Traded Products (ETPs) valued at N2,265.60 executed in 6 deals compared with a total of 2,000 units valued at N34,000.00 transacted last week in one deal.

A total of 1,041 units of Federal Government bonds valued at N1.040million were traded this week in 10 deals, compared with a total of 2,360 units valued at N2.029million transacted last week in seven deals

The NSE All-share Index and market capitalisation appreciated by 1.45 per cent to close the week at 36,848.17 and N12.684trillion respectively. Similarly, all other Indices finished higher during the week with the exception of the NSE ASeM Index, which closed flat.

About 41 equities appreciated in price during the week, higher than 38 of the previous week, while 23 equities depreciated in price, lower than 26 equities of the previous week. Also 107 equities remained unchanged same as recorded in the preceding week.

Meanwhile, the Exchange has announced the lifting of suspension of trading in the shares of Thomas Wyatt Nigeria Plc, and African Alliance Insurance Plc.

According to the NSE, “In view of the submission of the relevant accounts and our satisfaction that the accounts complied with our applicable rules, The Exchange has lifted the suspension of trading in the shares.

“The suspension of trading in the issuer’s securities shall be lifted upon submission of the relevant accounts provided The Exchange is satisfied that the accounts complied with all applicable rules of The Exchange.

“The Exchange shall thereafter also announce through the medium by which the public and the SEC was initially notified of the suspension, that the suspension has been lifted.”

The companies were suspended due to failure to meet the post listing requirements of the Exchange.

Thomas Wyatt Nigeria submitted its audited accounts for the period ended 31St March 2017 on October 6, while African Alliance Insurance submitted its audited accounts for the period ended 31st December 2016 on July 17.