NAHCO, UBA, Zenith Bank Dominate Weekly Equity Trading

NAHCO, UBA, Zenith Bank Dominate Weekly Equity Trading

By Modupe Gbadeyanka

Trading in the shares of Nigerian Aviation Handling Company Plc, United Bank for Africa Plc and Zenith Bank Plc, measured by volume, contributed 33.13% and 25.95% to the total equity turnover volume and value respectively this week.

According to the weekly report released by the Nigerian Stock Exchange (NSE), the three listed firm’s transacted a total of 461 million shares worth N5.3 billion executed in 2,513 deals during the 5-day trading week.

At the close of business on Friday, investors at the market bought and sold a total of 1.4 billion shares worth N20.3 billion in 20,064 deals in contrast to a total of 1.4 billion shares valued at N16.8 billion that exchanged hands last week in 19,832 deals.

Business Post reports that the Financial Services Industry, measured by volume, led the activity chart with 824.2 million shares valued at N9.3 billion traded in 11,620 deals; thus contributing 59.23% and 45.65% to the total equity turnover volume and value respectively.

The Services Industry followed with 308.9 million shares worth N1.3 billion in 610 deals, while the third place was occupied by Consumer Goods Industry with a turnover of 86.2 million shares worth N8.1 billion in 3,103 deals.

It was gathered that 34 equities appreciated in price during the week, higher than 31 in the previous week, while 48 equities depreciated in price, same as 48 equities of the previous week, with 87 equities remaining unchanged lower than 90 equities recorded in the preceding week.

A cursory look at the All-Share Index (ASI) showed that it depreciated by 0.37% while the market capitalization appreciated by 0.38% to close the week at 36,499.67 points 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%, 0.10%, 0.83% and 6.76%.

Also traded during the week were a total of 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 5 deals.

In addition, 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 9 deals.

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