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Financial stocks contribute 84 per cent of NSE’s equity turnover


Nigerian Stock Exchange

The financial services industry (measured by volume) led the activity chart at the end of last week’s transactions on the floor of the Nigerian Stock Exchange (NSE), with 909.85 million shares valued at N12.77 billion traded in 7,822 deals. It thus contributed 84.32 per cent to the total equity turnover volume.The huge activity by the financial sector share supported the market rally at NSE, which boosted both the All-Share Index and market capitalisation by 0.23 per cent to close the week at 32,200.21 points and N11.76 trillion respectively.
Following the financial sector was the consumer goods industry with 52.651 million units, valued at N3.342 billion in 2,876 deals.The oil and gas industry ranked third with a turnover of 36.32 million shares worth N674.24 million in 1,324 deals.
Trading in the top three equities, namely, Zenith Bank Plc, Access Bank Plc and FBN Holdings Plc (measured by volume) accounted for 557.380 million shares worth N9.434 billion in 3,231 deals, contributing 51.66 per cent to the total equity turnover volume.

At the end of transactions last week, a turnover of 1.079 billion shares worth N18.196 billion in 14,372 deals was recorded by investors on the floor of the Exchange in contrast to a total of 1.267 billion units valued at N20.346 billion, exchanged in the previous week in 15,088 deals.
Also traded during the week were 4,065 units of Exchange Traded Products (ETPs) valued at N17,357.55, executed in one deal, compared with 15,168 units valued at N216.251 million that was transacted last week in nine deals.
Similarly, all other indices finished higher with the exception of the NSE Banking, NSE Insurance, NSE Industrial Goods and NSE Pension Indices that finished lower by 0.47 per cent, 1.90 per cent, 3.81 per cent and 0.31 per cent respectively.27 equities appreciated in price during the week, higher than 18 in the previous week. 39 equities depreciated in price, lower than 42 of the previous week, while 10 equities remained unchanged higher than 101 equities recorded in the preceding week.

Also, the NSE notified the investing public of the lifting of suspension placed on trading in the shares of Premier paints, Ekocorp, Austin Laz and Company and Academy Press following the submission of their outstanding financial statements.
The Exchange also announced the lifting of suspension placed on trading in the shares of FTN Cocoa Processors Plc.According to NSE, “FTN Cocoa Processors, which was amongst the companies suspended, has submitted its outstanding audited and Interim financial statements to the exchange.”

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