Financial stocks lift NSE’s turnover by N17.5 billion

HEAVY transactions in the shares of some banks and insurance companies, last week, enhanced the volume of shares traded, as a turnover of 1.552 billion shares worth N17.532 billion was recorded in 17,785 deals by investors on the floor of the Exchange, higher than a total of 1.221 billion shares valued at N16.964 billion that changed hands in 19,847 deals during the preceding week.

Specifically, the financial services industry (measured by volume) led the activity chart with 929.317 million shares valued at N6.909 billion traded in 9,877 deals; thus contributing 59.88per cent and 39.41 per cent to the total equity turnover volume and value respectively.

The natural resources industry followed with a turnover of 129.851 million shares worth N64.986 million in 43 deals.

The Consumer Goods Industry occupied the third place with 124.814 million shares worth N6.858 billion in 2,991 deals.

Trading in the top three equities namely – United Bank for Africa Plc, Cornerstone Insurance Company Plc and Multiverse Plc (measured by volume) accounted for 586.164 million shares worth N1.950 billion in 719 deals, contributing 37.77 per cent and 11.12 per cent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 19,675 units of Exchange Traded Products (ETPs) valued at N1.296 million executed in 21 deals compared with a total of 8,966 units valued at N5.556 million transacted during the preceding week in 32 deals.

A total of 3,450 units of Federal Government Bonds valued at N4.053 million were traded this week in 3 deals compared with a total of 14,817 units of Federal Government Bonds valued at N17.586 million traded in 5 deals in the previous week.

The NSE All-share index and market capitalisation depreciated by 0.13 per cent to close on Friday at 33,621.75 and N11.477 trillion respectively.

Similarly, five Indices finished lower during the week, while the NSE consumer goods, NSE oil/gas, NSE lotus II Indices closed higher by 0.93 per cent, 0.62per cent, and 0.38per cent respectively.

24 equities appreciated in price during the week, lower than 27 equities of the preceding week. 42 equities depreciated in price, lower than 47 equities of the preceding week, while 127 equities remained unchanged, higher than 119 equities recorded in the preceding week.

Meanwhile, Lotus Halal Equity Exchange Traded Fund has notified the Nigerian Stock Exchange that it has received approval from the Securities and Exchange Commission (SEC) to make an interim dividend of 10 kobo to unit holders.
According to the company, the date for closure of register for members is June 16, 2015 while payment is due for June 18, 2015.