Financial stocks contribute 10.8b to NSE’s turnover

The Financial Services Industry dominated in volume terms on the equity sector of the Nigerian Stock Exchange (NSE) last week with 7.890 billion shares valued at N10.807 billion.

This volume traded represents 81.09 per cent of the total equity turnover respectively.

The conglomerates industry followed with 61.402 million shares worth
N93.053 million in 605 deals.

The consumer goods industry ranked third with a turnover of 48.978 million shares worth N1.017 billion in 2,238 deals.

Specifically, trading in the top three equities namely – Wema Bank Plc, United Bank For Africa Plc and Guaranty Trust Bank Plc. (measured by volume) accounted for 7.133 billion shares worth N8.954 billion in 2,364 deals, contributing 88.56 per cent and 67.18 per cent to the total equity turnover volume and value respectively.

Consequently, a turnover of 8.054 billion shares worth N13.328 billion in   were recorded in 15,212 deals by investors on the floor of the Exchange in contrast to a total of 1.111 billion shares valued at N6.201 billion that changed hands in 15,315 deals during the preceding week.

Also traded during the week were a total of 690 units of Exchange Traded Products (ETPs) valued at N572, 158.80 executed in 28 deals, compared with a total of 24,200 units valued at N621, 286 transacted last week in 26 deals. (See summary in the table below):

A total of 28,280 units of Federal and State Government Bonds valued at N29.572 million were traded in eight deals compared to a total of 6,908 units of Federal Government Bonds valued at N7.739 million transacted last week in 7 deals.

The NSE All-Share index and market capitalisation depreciated by 2.40% to close the week at 24,719.27 and N8.503 trillion respectively.

Similarly, all other Indices finished lower during the week, with the exception of the NSE Premium Index, NSE ASeM Index, NSE Banking Index, NSE Insurance Index and the NSE Pension Index that rose by 0.45per cent, 0.38per cent, 0.31 per cent,1.86 per cent  and 0.55 per cent respectively.

26 equities appreciated in price during the week, lower than 27 equities of the previous week. 41 equities depreciated in price, higher than 40 equities of the previous week while one hundred and 122 equities remained unchanged same as the previous week.

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