Financial stocks contribute 84.2 per cent to NSE’s turnover

The financial services industry dominated in volume terms last week on the equities sector of the Nigerian Stock Exchange (NSE), contributing 84.2 per cent to the total equity volume.

Specifically, the financial services sector led the activity chart with 954.328 million shares valued at N5.533 billion traded in 9,797 deals; thus contributing 84.23per cent and 58.47per cent to the total equity turnover volume and value respectively.

The conglomerates industry followed with 71.954 million shares worth N248.280 million in 926 deals. The third place was occupied by the consumer goods Industry with a turnover of 41.964 million shares worth N2.180 billion in 2,999 deals.

Precisely, trading in the top three equities– Zenith International Bank Plc, United Bank for Africa Plc and Guaranty Trust Bank Plc.(measured by volume) accounted for 429.024 million shares worth N4.278 billion in 4,658 deals, contributing 37.87per cent and 45.21per cent to the total equity turnover volume and value respectively.

Consequently, a turnover of 1.133 billion shares worth N9.463 billion were recorded 16,680 deals by investors on the floor of the Exchange in contrast to a total of 2.177 billion shares valued at N10.753 billion that changed hands last week in 21,471 deals during the preceding week.

Also traded during the week were a total of 183,064 units of Exchange Traded Products (ETPs) valued at N1.552 million executed in 34 deals, compared with a total of 33,808 units valued at N437, 210.58 transacted last week in 33 deals.

A total of 120,100 units of Federal Government Bonds valued at N142.951 million were traded in five deals, compared with a total of 1,000 units valued at N1.157 million transacted during the preceding week in four deals.

The NSE’s All-Share Index and market capitalisation appreciated by 0.38 per cent to close the week at 23,916.15 and N8.225 trillion respectively.

Similarly, all other Indices finished higher during the week, with the exception of the NSE Insurance Index, NSE Consumer Goods Index and NSE Industrial Goods Index that declined by -1.60 per cent, -0.44 per cent and -1.47 per cent respectively, while NSE ASeM Index closed flat.

Also, 38 equities appreciated in price during the week, higher than 33 equities in the previous week, while 29 equities depreciated in price, lower than 32 in the previous week, and 123 equities remained unchanged, lower than 125 equities recorded in the previous week.