Financial stocks contribute 68% to NSE’s turnover

The nation’s financial sector dominated transactions in volume terms at the end of last week’s trading on the floor of the Nigerian Stock Exchange (NSE) with 886.327 million shares valued at N4.829 billion, traded in 4,998 deals, thus contributing 67.68 per cent to the total equity turnover volume.

Following the financial sector was the conglomerates industry with 307.946 million shares worth N466.045 million in 471 deals.

The consumer goods industry ranked third with a turnover of 61.258 million shares worth N1.507 billion in 2,001 deals.

Trading in the top three equities- Transnational Corporation of Nigeria Plc, AIICO Insurance Plc and Fidelity Bank Insurance Plc (measured by volume) accounted for 736.889 million shares worth N998.336 million in 899 deals, contributing 56.27 per cent to total equity turnover volume.

Meanwhile it was a brief trading week as the Federal Government declared December 25 and 26 public holidays to commemorate the Christmas and Boxing Day.

Consequently, a turnover of 1.310 billion shares worth N12.635 billion was recorded in 9,016 deals by investors on the floor of the Exchange in contrast to a total of 2.243 billion shares valued at N139.789 billion that changed hands in 18,466 deals in the preceding week.

Also traded during the week were 276 units of Exchange Traded Products (ETPs) valued at N9,865.34 and executed in 12 deals, compared with a total of 3,070 units valued at N455,245.00 that was transacted last week in eight deals.

A total of 422,672 units of three Federal Government Bonds and one state bond valued at N436.190 million were traded this week in 20 deals, compared with a total of 3,780 units valued at N3.931 million transacted last week in 17 deals.

The NSE All-Share Index and market capitalisation depreciated by 0.72 per cent to close the week at 38,243.19 and N13.609 trillion respectively.

However, all other indices finished higher during the week with the exception of the NSE Premium, NSE ASeM, NSE 30, and NSE Industrial Goods Indices that depreciated by 3.32 per cent, 3.42 per cent, 0.27 per cent and 1.28 per cent respectively.

32 equities appreciated in price during the week, lower than 35 of the previous week. 25 equities depreciated in price, same as 25 equities of the previous week, while 115 equities remained unchanged higher than 112 equities recorded in the preceding week.