Financial stocks contribute 82.9% to total NSE’s turnover

Trading floor of NSE, Lagos

…as Guinness unfolds plan to raise N40b by way of rights
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.

The sector led the activity chart with 853.414 million shares valued at N4.269 billion traded in 7,904 deals, contributing 82.91 per cent to the total equity turnover.

The oil and gas industry followed with 80.250 million units, worth N1.151 billion in 1,443 deals.

The conglomerates industry occupied the third place with a turnover of 45.770 million shares worth N83.469 million in 596 deals.

Consequently, a turnover of 1.029 billion shares worth N7.980 billion was recorded in 13,441 deals by investors on the floor of the Exchange in contrast to a total of 1.024 billion shares valued at N12.464 billion that changed hands in 16,400 deals.

Trading in the top three equities namely – Diamond Bank Plc, FBN Holdings Plc and Fidelity Bank Plc (measured by volume) accounted for 397.225 million shares worth N546.501 million in 1,680 deals, contributing 38.59 per cent and 6.85 per cent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 20 units of Exchange Traded Products (ETPs) valued at N90.90 executed in two deals compared with a total of 1,020 units valued at N51,316.00 transacted last week in four deals.

A total of 8,390 units of Federal Government Bonds valued at N8.203 million were traded this week in 4 deals, compared with a total of 6,686 units valued at N5.583 million transacted last week in seven deals.

The NSE All-share index and market capitalisation appreciated by 1.64 per cent to close the week at 25,653.16 and N8.878 trillion respectively.

Similarly, all other indices finished higher during the week with the exception of the NSE Consumer Goods Index that depreciated by 0.02 per cent while the ASEM Index closed flat.

About 31 equities appreciated in price during the week, higher than twenty-four 24 equities of the previous week. Also, 22 equities depreciated in price, lower than 31 equities of the previous week, while 124 equities remained unchanged higher than 122 equities recorded in the preceding week.

Meanwhile, Guinness Nigeria Plc has announced plans to float a rights issue of 684,494,631 ordinary shares of 50 kobo each at N58.00 per share on the basis of five new ordinary share for every 11 ordinary share held to existing shareholders.

Already, the company, through its stockbroker; Stanbic IBTC Stockbrokers Limited had submitted an application to the Exchange for approval and listing of the rights issue.

The qualification date for the rights issue was Wednesday March 15, 2017.

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