Financial stocks lift NSE’s turnover by N22billion

Nigerian-Stock-ExchangeDESPITE the one-day holiday declared on Friday to commemorate ‘Democracy Day’, heavy transactions in the shares of some banks and insurance companies lifted the volume of shares traded, as a turnover of 1.799 billion shares worth N22.105 billion changed hands in 17,337 deals last week.

This volume of shares traded, was higher than a total of 2.943 billion units, valued at N16.045 billion, exchanged in 21,306 deals during the preceding week.

Specifically, at the close of transactions last week on the trading floor of the Nigerian Stock Exchange (NSE) , the financial services industry (measured by volume) led the activity chart with 1.546 billion shares valued at N8.895 billion traded in 10,394 deals; thus contributing 85.93per cent and 40.24 per cent to the total equity turnover volume and value respectively.

The services industry followed with a turnover of 84.137 million shares worth N120.575 million in 497 deals. The consumer goods industry occupied the third place with 76.868 million shares worth N9.362 billion in 2,899 deals.

Trading in the top three equities namely – United Bank for Africa Plc., West African Provincial Insurance Plc. and Access Bank Plc, (measured by volume) accounted for 904.390 million shares worth N3.345 billion in 1,705 deals, contributing 50.27per cent and 15.13per cent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 3,474 units of Exchange Traded Products (ETPs) valued at N1.003 million executed in 19 deals compared with a total of 25,211 units valued at N990,777.65 transacted last week in 23 deals.

A total of 64,465 units of Federal Government and State Bonds valued at N69.372 million were traded this week in 7 deals compared with a total of 10,333 units of Federal Government Bonds valued at N11.795 million traded in 2 deals in the previous week.

The NSE All-share index and market capitalization appreciated by 0.11per cent and 0.12 per cent to close on Friday at 34,310.37 and N11.659 trillion respectively.

Similarly, four indices finished higher during the week, including the NSE ASeM index, while four others finished lower. 38 equities appreciated in price during the week, lower than 39 equities of the preceding week. 31 equities depreciated in price, lower than 32 equities of the preceding week, while 124 equities remained unchanged, higher than 122 equities recorded in the preceding week.

Meanwhile, additional ordinary shares of 3,009,978,524 units of Prestige assurance Plc were admitted last week to trading as a result of concluded rights issue, bringing the total outstanding shares of the company to 5,518,293,960 units.

Also, additional ordinary shares of 629,496,464 units, which arose as a result of the placing exercise by Champion Breweries Plc to two of its major shareholders, were admitted to trading last week, thus, bringing the total outstanding shares of the company to 7,829.496,464 units.

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