Financial stocks lift NSE’s volume by 84.7 per cent

• 34 stocks record price appreciation

The financial services industry emerged the most active sector in volume terms at the end of last week’s transaction on the Nigerian Stock Exchange.

It led the activity chart with 517.964 million shares valued at N2.933 billion traded in 5,931 deals; thus contributing 84.70 per cent to the total equity turnover volume.

The consumer goods industry followed with 30.470 million shares worth N1.488 billion in 1,561 deals.

The conglomerates industry trailed with a turnover of 27.836 million shares worth N55.012 million in 395 deals.

Specifically, trading in the top three equities namely – FCMB Group Plc, FBN Holdings Plc and Guaranty Trust Bank Plc (measured by volume) accounted for 241.961 million shares worth N1.895 billion in 2,242 deals, contributing 39.57 per cent and 34.49 per cent to the total equity turnover volume and value respectively.

Consequently, a turnover of 611.527 million shares worth N5.495 billion was recorded in 9,650 deals by investors on the floor of the Exchange.

This volume of shares traded was, however, lower than a total of 1.183 billion shares valued at N10.300 billion that changed hands in 16,522 deals during the preceding week.

The drop in turnover may , however, be attributed to the two-day public holiday declared on Monday and Tuesday last week by the Federal Government to commemorate the Eid-el-Kabir Sallah celebration.

Also traded during the week were a total of 945 units of Exchange Traded Products (ETPs) valued at N9,541.90 executed in 18 deals, compared with a total of 943 units valued at N1.357 million transacted last week in 28 deals.

A total of 1,700 units of Federal Government Bonds valued at N1.591 million were traded in 2 deals compared to a total of 9,140 units of Federal Government Bonds valued at N9.198 million transacted last week in 6 deals.

The NSE All-share index and market capitalisation appreciated by 1.02 per cent to close the week at 27,858.48 and N9.570 trillion respectively.