Financial stocks contribute 59.23% to total equity turnover

Financial stocks contribute 59.23% to total equity turnover

NSE The financial services industry (measured by volume), dominated in volume terms at the end of last week’s transactions on the equity sector of the Nigerian Stock Exchange (NSE), with 824.153 million shares valued at N9.274 billion traded in 11,620 deals.

The development represents 59.23% to the total equity turnover volume, while the services industry followed with 308.871 million shares worth N1.256 billion in 610 deals.

The consumer goods industry ranked third with a turnover of 86.151 million shares worth N8.073 billion in 3,103 deals.

Trading in the top three equities– Nigerian Aviation Handling Company Plc, United Bank for Africa Plc and Zenith International Bank Plc (measured by volume), accounted for 460.997 million shares worth N5.273 billion in 2,513 deals, contributing 33.13% to the total equity turnover volume.

Consequently, a turnover of 1.391 billion shares worth N20.316 billion was recorded in 20,064 deals by investors on the floor of the exchange, higher than a total of 1.417 billion shares valued at N16.739 billion that changed hands in 19,832 deals during the preceding week.

Also traded during the week were 2,304 units of Exchange Traded Products (ETPs) valued at N376,541.65 executed in 16 deals, compared with a total of 344 units valued at N50,021.24 that was transacted last week in five deals.

A total of 16,463 units of Federal Government Bond valued at N18.200 million were traded this week in 27 deals compared with a total of 7,518 units valued at N7.668 million transacted last week in nine deals.

The NSE All-Share index depreciated by 0.37 per cent, while market capitalisation appreciated by 0.38 per cent to close the week at 36,499.67 and N13.322 trillion respectively.

Similarly, all other indices finished lower with the exception of the NSE CG, NSE 30, NSE Banking and the NSE Oil/Gas Indices that appreciated by 0.55 per cent, 0.10 per cent, 0.83 per cent and 6.76 per cent respectively.

Also, 34 equities appreciated in price during the week, higher than 31 in the previous week and 87 equities remained unchanged lower than 90 equities recorded in the preceding week.

Further breakdown of last week’s trading showed that Union Diagnostic and Clinical Services traded higher at the end of transactions with 50 per cent to close at N0.33 per share.Neimeth International followed with 42.86 per cent to close at N0.60 per share.Mutual Benefit Assurance added 23.33 per cent to close at N0.37 per share. Niger Insurance gained 15.38 per cent to close at N0.30 per […]

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