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Banking stocks lead NSE’s N6 billion turnover in four days

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Nigerian Stock Exchange

Fidelity Bank traded higher at the end of last week’s transactions on the trading floor of the Nigerian Stock Exchange (NSE). It led nine others with 21.43 per cent to close at N1.02 per share.

Following Fidelity last week was C&I Leasing, adding 14.29 per cent to close at N0.64 per share. TransNational Corporation gained 5.33 per cent to close at N0.79 per share.

Fidson Healthcare appreciated by 5.26 per cent to close at N1.00 per share. International Breweries gained 4.92 per cent to close at N17.50 per share, NPF Micro Finance Bank garnered 4.88 per cent to close at N1.29 per share.

Total added 4.11 per cent to close at N270.00 per share, and UACN 3.53 per cent to close at N1.76 per share. Caverton appreciated by 3.33 per cent to close at N0.93 per share. FBN Holdings gained 2.89 per cent to close at N3.20 per share.

Furthermore, heavy transactions in the shares of some banks and insurance stocks lifted the volume of shares trade last week, as a total turnover of 1.191 billion shares worth N6.037 billion were recorded in 11,820 deals by investors on the Exchange. This is higher than the 786.176 million units, valued at N5.828 billion that was exchanged in 14,343 deals during the preceding week.

This volume of shares recorded was despite the public holiday declared on Friday to mark the ‘Good Friday’ celebration, thus bringing the number of trading days for the week to four.

Specifically, the financial services industry led the activity chart with 1.014 billion shares valued at N3.070 billion traded in 6,700 deals. The consumer goods industry followed with 51.888 million shares worth N1.581 billion in 2,025 deals. The third place was occupied by the conglomerates industry with a turnover of 47.517 million shares worth N66.904 million in 542 deals.

Trading in the top three equities namely – Fidelity Bank Plc, FCMB Group Plc, and Standard Trust Assurance Plc (measured by volume) accounted for 679.949 million shares worth N639.862 million in 1,622 deals, contributing 57.06 per cent to the total equity turnover volume.

Also traded during the week were a total of 16 units of Exchange Traded Products (ETPs) valued at N1,088 executed in one deal compared with a total of 1,510 units valued at N4, 113.20 transacted last week in three deals.

A total of 4,800 units of Federal Government bonds valued at N4.892million were traded last week in 10 deals, compared with the 11,064 units worth N10.256million transacted in 21 deals during the preceding week.

The NSE All-share index, and market capitalisation depreciated by 0.92 per cent to close the week at 25,510.01 and N8.827 trillion respectively. Similarly, all other indices finished lower with the exception the NSE ASeM Index that closed flat

About 13 equities appreciated in price during the week, lower than 36 equities in the previous week, while 37 equities depreciated in price, higher than 22 equities the week before. Also, 127 equities remained unchanged higher than 119 equities recorded in the preceding week.



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