Sterling bank, Zenith, others lift NSE’s turnover by N14.8b

zenith bank

Sterling Bank

Sterling Bank

Heavy transactions in the shares of some banks, especially sterling bank and Zenith bank, last week, lifted the volume of shares traded, as a turnover of 1.358 billion shares worth N14.722 billion was recorded in 14,772 deals by investors on the floor of the Exchange.

This amount traded was, however, higher than a total of 992.719 million shares valued at N13.121 billion that exchanged hands in 14,252 deals during the preceding week.

The financial services industry (measured by volume) led the activity chart with 1.153 billion shares valued at N7.990 billion traded in 8,887 deals; thus contributing 84.90per cent and 54.27 per cent to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with a turnover of 80.465 million shares worth N183.062 million in 933 deals.

The third place was occupied by the consumer goods Industry with 66.952 million shares worth N4.090 billion in 2,592 deals.

Trading in the top three equities namely – sterling Bank Plc, zenith International Bank Plc and Guinea Insurance Plc (measured by volume) accounted for 595.713 million shares worth N4.769 billion in 1,576 deals, contributing 43.86 per cent and 32.39 per cent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 330,708 units of Exchange Traded Products (ETPs) valued at N1.616 million executed in 53 deals compared with a total of 1.378 million units valued at N11.573 million transacted last week in 121 deals.

A total of 400 units of Federal Government Bonds valued at N423,765.35 were traded this week in one deal. There was no transaction recorded last week.

The NSE All-Share Index and Market capitalisation depreciated by 2.78 per cent to close on Friday at 29,177.72 and N10.028 trillion respectively.
Similarly, all other Indices finished lower during the week with exception of NSE Insurance index that chalked up by 0.24per cent, while NSE ASeM Index closed flat.

Also, 12 equities appreciated in price during the week, lower than 26 equities of the preceding week and 51 equities depreciated in price, higher than 37 equities of the preceding week, while 127 equities remained unchanged, similar to 127 equities recorded in the preceding week.



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