Financial stocks contributes 63.9 per cent to NSE’s turnover

THE financial services industry sector led the activity chart with 919.073 million shares valued at N8.388 billion in volume terms last week.

The volume of shares traded in the sector, according to the Nigerian Stock Exchange (NSE) contributed to 63.89 per cent and 31.76per cent to the total equity turnover volume and value respectively.

Following the financial sectors last week was the construction/real estate industry with a turnover of 187.939 million shares worth N9.464 billion in 274 deals.

The third place was occupied by the consumer goods industry with 143.344 million shares worth N6.003 billion in 3,031 deals.

Trading in the top three equities namely – Zenith International Bank Plc., Julius Berger Nigeria Plc and Wapic Insurance Plc., (measured by volume) accounted for 489.554 million shares worth N13.376 billion in 1,637 deals, contributing 34.03per cent and 50.66per cent to the total equity turnover volume and value respectively.

Subsequently, a turnover of 1.439 billion shares worth N26.406 billion changed hands in 18,110 deals by investors on the floor of the Exchange last week, in contrast to a total of 1.282 billion shares valued at N31.297 billion exchanged in 19,143 deals during the preceding week.

Also traded during the week were a total of 1,945 units of Exchange Traded Products (ETPs) valued at N533,746.50 executed in 23 deals compared with a total of 624 units valued at N235,319.49 transacted last week in 20 deals.

There was no trade on bonds recorded in the week under review. However, a total of 2,284 units of Federal Government Bonds valued at N2.398 million were traded last week in 2 deals.

The NSE All-share index and market capitalization depreciated by 1.22per cent to close on Friday at 32,853.49 and N11.215 trillion.

Similarly, four of the indices closed lower during the week, while three other Indices: NSE Consumer Goods, NSE Oil/Gas, NSE