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

As Exchange seals broadcasting deal with CBS
Heavy transactions in the shares of some banks last week, lifted the volume of shares traded, as a turnover of 887.024 million shares worth N17.450billion was recorded in 16,955 deals by investors on the Exchange. This was higher than the 998.973 million units valued at N11.455billion that changed hands in 13,626 deals in the preceding week.

This was despite the one –day public holiday declared by the federal government on Monday to commemorate the Eid -el- Kabir Sallah celebrations.
Specifically, at the closed of transactions last week, the financial services industry (measured by volume) led the activity chart with 729.177 million shares valued at N8.816billion traded in 10,744 deals; thus contributing 82.20 per cent to the total equity turnover volume.

The consumer goods industry followed with 68.153 million shares worth N6.692billion in 2,908 deals. The conglomerates industry ranked third with a turnover of 32.109 million shares worth N183.098million in 687 deals.

Trading in the top three equities namely – Access Bank Plc, Guaranty Trust Bank Plc, and Zenith International Bank Plc (measured by volume) accounted for 320.549 million shares worth N6.909billion in 2,643 deals, contributing 36.14 per cent to the total equity turnover volume.

Also traded during the week were a total of 3,000 units of Exchange Traded Products (ETPs) valued at N31,590 executed in one deal compared with a total of 86,063 units valued at N838,754.79 transacted last week in eight deals.

A total of 8,535 units of Federal Government Bonds valued at N8.660million were traded this week in 11 deals, compared with a total of 12,244 units valued at N12.374million transacted last week in 11 deals.

The NSE All-share index, and market capitalisation appreciated by 1.27 per cent to close the week at 35,957.24 and N12.393trillion respectively.

Similarly, all other indices finished higher during the week with the exception of the NSE Main Board, NSE Banking, NSE Insurance, NSE Oil/Gas, and NSE Industrial Goods indices depreciated by 0.24 per cent, 1.08 per cent, 0.10 per cent, 3.77 per cent, and 1.01 per cent respectively, while the NSE ASeM Index closed flat.

About 28 equities appreciated in price during the week, higher than 19 of the previous week, while 38 equities depreciated in price, lower than 48 equities of the previous week. Also, 105 equities remained unchanged higher than 104 equities recorded in the preceding week.

Meanwhile, the Nigerian Stock Exchange announced it signed a broadcasting agreement with Continental Broadcasting Service limited (CBS), to transmit capital market activities live from the floor of the Exchange.
CBS, the parent company of TVC Continental broadcasts to major African and European countries.

Under the agreement, TVC will run live daily commentaries of major developments on the NSE, and the Nigerian capital market at large as well as create a programme titled, ‘The Market This Week’ to be aired every Friday.

Commenting on the broadcasting agreement, the Head of Corporate Communications, NSE, Olumide Orojimi, said: “we are delighted to forge this partnership with CBS. This will sustain the momentum we are receiving from media organisations, to collaborate with us towards projecting and promoting the capital market through timely dissemination of information that enables investors to make sound investing decisions.

“It further affirms the sustained relevance of the Nigerian Stock Exchange as the destination for discerning issuers and investors to raise and access capital. We look forward to a robust coverage of our market across CBS’s growing pan-African and global audience platforms.”

Also speaking at the MoU signing, the Deputy Director, News, CBS, Tunde Osho, said the partnership between NSE and CBS is a significant step forward in this day of high investment activities in Nigeria.

“With our network of bureaus across the country, and our presence on Sky Channel 217 in the U.K., broadcasting live updates from the floor of NSE will ensure that the investing public in Nigeria and abroad is fed with up to date information everyday on the Exchange.

“This will ensure that the global investing public is open to the critical information we will provide so it would be adequately oriented to the important stock market information it needs to make critical investment decisions in the country.”