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Financial stocks contribute 79.6 per cent to NSE’s turnover

By Helen Oji
04 July 2016   |   5:30 am
The financial services industry dominated in volume terms on the equity sector of the Nigerian Stock Exchange (NSE) with 1.169 billion shares valued at N10.241 billion in 12,697 deals, thus contributing 79.59 per cent to the total equity turnover volume.

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The financial services industry dominated in volume terms on the equity sector of the Nigerian Stock Exchange (NSE) with 1.169 billion shares valued at N10.241 billion in 12,697 deals, thus contributing 79.59 per cent to the total equity turnover volume.

The conglomerates industry followed with 133.613 million shares worth N300.892 million in 1,081 deals. The consumer goods industry ranked third with a turnover of 110.745 million shares worth N4.904 billion in 3,495 deals.

Trading in the top three equities- Guaranty Trust Bank Plc, FBN Holdings Plc and Transnational Corporation of Nigeria Plc (measured by volume) accounted for 523.549 million shares worth N6.539 billion in 5,223 deals, contributing 35.65 per cent and 38.32 per cent to the total equity turnover volume and value respectively.

Consequently, a turnover of 1.469 billion shares worth N17.065 billion were traded by investors in 21,246 deals last week, in contrast to a total of 2.387 billion shares valued at N26.381 billion that changed hands in 28,072 deals during the preceding week.

Also traded during the week were a total of 12,695 units of Exchange Traded Products (ETPs) valued at N174,028.05 executed in 35 deals, compared with a total of 121,501 units valued at N90.716 million transacted last week in 34 deals.

A total of 2,979 units of Federal Government bonds valued at N2.908 million were traded in five deals compared to a total of 9,439 units of Federal Government bonds valued at N10.429 million transacted last week in seven deals.

The NSE All-Share index and market capitalisation depreciated by 4.39 per cent to close the week at 29,305.40 and N10.065 trillion respectively.
Similarly, all other Indices finished lower during the week, with the exception of the NSE ASeM Index that closed higher.

22 equities appreciated in price during the week, lower than 40 equities of the previous week. 52 equities depreciated in price, higher than 32 equities of the previous week, while 106 equities remained unchanged lower than 108 equities recorded in the preceding week.