Volume of Trade on NSE Rises 119% in One Week

Volume of Trade on NSE Rises 119% in One Week

By Modupe Gbadeyanka The volume of shares transacted by investors on the floor of the Nigerian Stock Exchange (NSE) increased last week by 119.5 percent, data from the stock market revealed.

Business Post reports that a total turnover of 2.6 billion shares worth N12.8 billion were traded in 15,558 deals in the week by investors in contrast to a total of 1.2 billion shares valued at N12.3 billion that exchanged hands the previous week in 18,293 deals.

The financial services industry (measured by volume) led the activity chart with 2.4 billion shares valued at N8.6 billion traded in 9,331 deals, contributing 89.23 percent and 67.23 percent to the total equity turnover volume and value respectively.

The ICT sector followed with 140.5 million shares worth N28.1 million in 113 deals, while the third place was Consumer Goods industry with a turnover of 54.2 million shares worth N2.1 billion in 2,613 deals.

Trading in Wema Bank, Chams and Zenith Bank (measured by volume) accounted for 1.9 billion shares worth N3.5 billion in 1,642 deals, contributing 74.08 percent and 26.96 percent to the total equity turnover volume and value respectively.

During the week, the NSE All-Share Index depreciated by 0.31 percent while the market capitalisation appreciated by 0.51 percent to close the week at 31,041.42 points and N11.672 trillion respectively.

All other indices finished lower with the exception of the NSE Premium, NSE Consumer Goods, NSE Oil/Gas and NSE Lotus II indices which appreciated by 0.15 percent, 1.07 percent, 3.56 percent and 1.02 percent respectively while NSE ASeM closed flat.

A total of 21 equities appreciated in price during the week, lower than 32 in the previous week, while 36 equities depreciated in price, lower than 38 equities of the previous week, with 111 equities remaining unchanged, higher than 98 equities recorded in the preceding week.

Also traded during the week were a total of 85,775 units of Exchange Traded Products (ETPs) valued at N1.187 million executed in 22 deals compared with a total of 7,165 units valued at N1.933 million that was transacted a week earlier in 2 deals.

In addition, a total of 3,453 units of Federal Government Bonds valued at N3.565 million were traded in the week in 24 deals compared with a total of 2,224 units valued at N2.324 million transacted the previous week in 18 deals.

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