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Financial stocks lift NSE’s volume by N12.6 billion


Nigeria Stock Exchange

Nigeria Stock Exchange

Despite the one day holiday declared by the Federal Government last week Monday, to commemorate the Eid-el-Maulud celebration, heavy transactions in the shares of some banks, especially Union Bank and United Bank for Africa, lifted the volume of shares traded, as a turnover of 1.656 billion shares worth N12.580 billion was recorded in 12,860 deals by investors on the floor of the Exchange.

This volume of shares traded, was, however, higher than a total of 894.759 million units, valued at N10.629 billion that changed hands in 13,418 deals during the preceding week.

Specifically, at the end of transactions last week, the financial services industry (measured by volume) led the activity chart with 1.504 billion shares valued at N6.183 billion traded in 7,311 deals; thus contributing 90.82 per cent and 49.15 per cent to the total equity turnover volume and value respectively.

The consumer goods industry followed with 51.395 million shares worth N4.753 billion in 2,027 deals. The third place was occupied by the conglomerates industry with a turnover of 46.282 million shares worth N52.408 million in 553 deals.

Trading in the top three equities; Union Bank Nigeria Plc, United Bank For Africa Plc and FCMB Group Plc (measured by volume) accounted for 865.701 million shares worth N3.370 billion in 999 deals, contributing 52.26 per cent and 26.79 per cent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 2.439 million units of Exchange Traded Products (ETPs) valued at N18.276 million executed in 15 deals, compared with a total of 2,850 units valued at N355,162.85 transacted in 21 deals during the preceding week.

A total of 411 units of Federal Government Bonds valued at N428,995.77 were traded this week in one deal. However, there was no bond traded last week.

The NSE All-share index and market capitalisation appreciated by 3.44 per cent to close at 26,707.10 and N9.189 trillion respectively.

Similarly, all other indices finished higher during the week with exception of the NSE Insurance, NSE Consumer Goods and NSE Lotus II Indices depreciated by 0.53 per cent, 1.68 per cent, and 0.46 per cent respectively while the NSE ASeM Index closed flat.

40 equities appreciated in price during the week, higher than 27 equities of the previous week. 19 equities depreciated in price, lower than 36 equities of the previous week, while 116 equities remained unchanged higher than 112 equities recorded in the preceding week.

Also, a total volume of 6,295,000 units issued by Wema Funding SPV Plc’s N6.295billion (Series 1) 7-Year 18.50% Fixed Rate Unsecured Bonds Due 2023, under N50 Billion Debt Issuance.

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