Banks’ stocks lift NSE’s turnover by N30b

Heavy transactions in the shares of some banks, especially FCMB and United Bank for Africa (UBA), last week, lifted the volume of shares traded, as a turnover of 3.008 billion shares worth N30.296 billion was recorded in 24,036 deals by investors on the floor of the Nigeria Stock Exchange (NSE).
 
The volume of shares traded, was however, higher than a total of 1.415 billion units, valued at N19.644 billion that changed hands in 20,659 deals during the preceding week.At the close of trading last week, the financial services industry led the activity chart with 2.539 billion shares valued at N23.510 billion traded in 13,179 deals; thus contributing 84.43 per cent to the total equity turnover.

The oil and gas industry followed with 273.443 million shares worth N2.358 billion in 3,735 deals. The consumer goods industry ranked third with a turnover of 60.840 million shares worth N2.654 billion in 3,141 deals.

Specifically, trading in the top three equities– FCMB Group Plc, United Bank for Africa Plc, and Oando Plc (measured by volume), accounted for 1.816 billion shares worth N9.599 billion in 3,851 deals, contributing 60.37 per cent to the total equity turnover.
 
Also traded during the week was a total of 177,144 units of Exchange Traded Products (ETPs) valued at N2.809 million, executed in six deals, compared with a total of 616,587 units valued at N9.185 million that was transacted last week in 21 deals.

A total of 13,735 units of Federal Government Bonds valued at N14.128 million were traded this week in 16 deals, compared with a total of 2,500 units valued at N2.367 million transacted last week in 10 deals.
 
The NSE All-Share Index and market capitalisation depreciated by 0.28 per cent to close the week at 40,814.89 and N14.743 trillion respectively.Similarly, all other indices finished lower with the exception of NSE CG, NSE Premium, NSE-Main Board, NSE 30, NSE Banking, NSE Oil/Gas, and NSE Pension indices, which appreciated by 1.08 per cent, 1.38 per cent, 0.54 per cent, 0.13 per cent, 2.34 per cent, 0.73 per cent and 1.42 per cent respectively

Also, 36 equities appreciated in price during the week, lower than 37 in the previous week and 33 equities depreciated in price, lower than 38 equities of the previous week, while100 equities remained unchanged higher than 94 equities recorded in the preceding week.