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Financial stocks contribute 84.9b to NSE’s turnover


Nigerian Stock Exchange

The financial services industry dominated in volume terms at the end of transactions in the equities sector of the Nigerian Stock Exchange (NSE).

It led the activity chart with 1.185 billion shares valued at N15.073billion in 13,728 deals; thus contributing 84.99 per cent to the total equity turnover volume. The consumer goods industry followed with 90.576 million units valued at N7.384billion in 4,687 deals.

The conglomerates ranked third with a turnover of 40.906 million shares worth N87.613million in 796 deals.

Trading in top three equities namely – Access Bank Plc, Zenith International Bank Plc, and Guaranty Trust Bank Plc accounted for 655.596 million shares worth N12.182billion in 4,881 deals, contributing 47.02 per cent to the total equity turnover volume.

Consequently, a turnover of 1.394 shares worth N15.073billion was recorded in 23,133 deals by investors on the floor of the Exchange in contrast to a total of 1.518 billion shares valued at N28.868billion that changed hands in 23,053 during the preceding week.

The NSE All-share index and market capitalisation depreciated by 3.35 per cent to close the week at 36,920.56 and N12.726trillion respectively.
Similarly, all other indices finished lower during the week with the exception of the NSE ASeM Index that closed flat.

About 19 equities appreciated in price during the week, lower than 32 equities of the previous week, while 51 equities depreciated in price, higher than 37 equities of the previous week. Also, 101 equities remained unchanged lower than the 102 equities recorded in the preceding week.

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