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Financial stocks lift NSE’s turnover by N36.6 billion


Despite the one–day holiday declared on Friday to commemorate ‘Good Friday’ celebrations, heavy trading in the shares of some banks, last week, buoyed the volume of shares traded, as a turnover of 2.632 billion shares worth N36.583 billion were recorded in 21, 393 deals by investors on the floor of the Nigeria Stock Exchange (NSE).

The volume of shares traded last week was however, higher than 2.509 billion units valued at N24.115 billion, recorded in 19,971 deals during the preceding week.

Last week, the financial services industry (measured by volume) led the activity chart with 2.055 billion shares valued at N21.061 billion traded in 12,133 deals; thus contributing 78.10per cent and 57.57per cent to the total equity turnover volume and value respectively.

The conglomerates industry followed with a turnover of 178.248 million shares worth N2.352 billion in 1,493 deals.

The third place was occupied by the consumer goods industry with 118.963 million shares worth N5.585 billion in 2,816 deals.

Trading in the top three equities- FBN Holdings Plc, Guaranty Trust Bank Plc and Access Bank Plc (measured by volume) accounted for 834.168 million shares worth N12.162 billion in 5,089 deals, contributing 31.7 per cent and 33.25 per cent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 27,730 units of Exchange Traded Products (ETPs) valued at N533,087.5 million executed in 22 deals compared with a total of 572,478 units valued at N8.255 million transacted last week in 22 deals

A total of 16,500 units of bonds (corporate bond 12,000 units and State bond 4,500 units) valued at N17.370 million were traded in six deals compared with a total of 210 units of FGN Bonds valued at N221,637.88 traded in three deals.

The NSE All-Share Index and market capitalisation appreciated by 16.9 per cent and 17.6 per cent respectively to close on Friday at 35,728.12 and N12.135 trillion.

Similarly, all indices finished higher during the week with the exception of NSE ASeM Index that closed flat, while 72 equities appreciated in price during the week, higher than 50 equities of the preceding week.

Six equities depreciated in price, lower than 21 equities of the preceding week, while 118 equities remained unchanged, lower than 125 equities recorded in the preceding week.
Meanwhile, a total of 217,080,184 units were added to the outstanding shares of the Forte Oil Plc, resulting from the one for five bonus, hence the new total outstanding shares of the company now stood at 1,302,481,103 units.

A total of 366,396,456 Ordinary Shares of 50 Kobo Each, being scheme shares allotted to minority members of Consolidated Breweries Plc as a result of the Merger between Nigerian Breweries Plc and Consolidated Breweries Plc at a Price of N120 per share were added to the share outstanding of Nigerian Breweries Plc, thus bringing the total outstanding shares of the company to 7,929,100,888 units.

A total of 1,870,000,000 ordinary shares belonging to AIICO Insurance Plc were cancelled as a result of the Internal Corporate Restructuring/Consolidation of AIICO Insurance Plc, AIICO General Insurance Company Limited and AIICO Asset Management Company Limited bringing the issued and fully paid ordinary shares of the Company to 6,930,204,480.

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