Financial stocks contribute 86% of Exchange’s N3.7b turnover

PHOTO; businessnews.com.ng

PHOTO; businessnews.com.ng

The financial services industry led the activity chart in terms of volume on the floor of the Nigerian Stock Exchange (NSE) last week, with 950.9 million shares worth N3.67 billion, contributing 85.5 per cent of the total turnover.

The conglomerates industry followed with 60.97 million shares valued at N79.9 million.

The consumer goods industry ranked third with a turnover of 40.3 million shares worth N1.69 billion in 1,774 deals.

Specifically, trading in the top three equities– Guaranty Trust Bank, FCMB Group Plc and Equity Assurance Plc, accounted for 362.484 million shares worth N2.02 billion in 1,942 deals, contributing 32.6 per cent and 32.57 per cent to the total equity turnover volume and value respectively.

Consequently, a turnover of 1.1 billion shares worth N6.2 billion were recorded in 15,315 deals by investors on the NSE last week, in contrast to a total of 1.262 billion shares valued at N6.4 billion that changed hands in 12,274 deals during the preceding week.

Also traded during the week were 24,200 units of Exchange Traded Products (ETPs) valued at N621, 286 executed in 26 deals, compared with a total of 25,738 units valued at N522, 245 transacted last week in 39 deals.

A total of 6,908 units of Federal Government Bonds valued at N7.739 million were traded in seven deals compared to a total of 22,030 units of Federal and State Government Bonds valued at N25.368 million transacted last week in eight deals.

The NSE All-Share index and market capitalisation depreciated by 0.70 per cent to close the week at 25,328.07 points and N8.712 trillion respectively.

Similarly, all other Indices finished lower during the week, with the exception of the NSE Oil/Gas Index and the NSE Pension Index that rose by 0.24 per cent and 0.13 per cent respectively, while the NSE ASeM closed flat.

About 27 equities appreciated in price during the week, higher than 24 equities of the previous week.



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