Banking stocks lift NSE’s turnover by N14.5 billion
Heavy transactions in the shares of some banks, especially Ecobank Transnational Incorporated (ETI) and Access Bank, last week, lifted the volume of shares traded, as a turnover of 1.826 billion shares worth N14.468 billion was recorded in 20,058 deals by investors on the floor of the Exchange.
This was in contrast to 910.659 million units, valued at N6.409 billion that changed hands in 15,023 deals during the preceding week.The financial services industry (measured by volume) led the activity chart with 1.471 billion shares valued at N10.686 billion traded in 11,038 deals, contributing 80.58 per cent and 73.86 per cent to the total equity turnover volume and value respectively.
The conglomerates industry followed with 187.026 million shares worth N313.287 million in 1,545 deals. The consumer goods industry ranked third with a turnover of 74.728 million shares worth N2.054 billion in 3,633 deals.
Specifically, trading in the top three equities– ETI, Access Bank and FBN Holdings (measured by volume) accounted for 682.553 million shares worth N6.787 billion in 2,916 deals, contributing 37.38 per cent and 46.91 per cent to the total equity turnover volume and value respectively.
Also traded during the week were a total of 382,448 units of Exchange Traded Products (ETPs) valued at N10.288 million, executed in 43 deals, compared with 6,837 units valued at N16.316 million transacted last week in 25 deals.
A total of 8,033 units of Federal Government Bonds valued at N8.923 million were traded in six deals compared to 23,903 units valued at N28.385 million transacted last week in seven deals.
The NSE All-share index and market capitalisation appreciated by 2.88 per cent and 2.92 per cent to close the week at 26,441.03 and N9.099 trillion respectively.
Similarly, all other Indices finished higher during the week, with the exception of the NSE Industrial Goods Index that declined by 1.15per cent 54 equities appreciated in price during the week, higher than 40 equities of the previous week. 17 equities depreciated in price, lower than 25 equities of the previous week, while 118 equities remained unchanged lower than 124 equities of the previous week.
Additional ordinary shares of 656,666,668 units of Fortis Microfinance Bank Plc (FORTISMFB), which arose from the conclusion of the Special Placing exercise by the Bank, were admitted to trading on 12th May, 2016.
This, according to NSE, brings the total outstanding shares of the company to 2,286,757,668 units.
No comments yet