Despite the two-day holiday declared by the Federal Government on Monday and Friday to commemorate the Boxing Day and the New Year respectively, heavy transactions in the shares of some banks and insurance companies, lifted the volume of shares traded.

Within the three trading days, a turnover of 2.965 billion shares worth N9.364 billion were recorded by investors on the floor of the Nigerian Stock Exchange in 7,174 deals.

This volume of shares traded was, however, in contrast to 743.117 million units valued at N6.591 billion that changed hands in 8,325 deals during the preceding week.

Specifically, the financial services industry led the activity chart with 2.760 billion shares valued at N5.174 billion traded in 4,103 deals, contributing 93.06 per cent and 55.25 per to the total equity turnover volume and value respectively.

The services industry followed with 66.805 million shares worth N203.043 million in 140 deals.

The Information Communications Technology industry ranked third with a turnover of 42.737 million shares worth N21.730 million in 15 deals.

Trading in the top three equities– African Alliance Insurance Company Plc, Sterling Bank Plc and FBN Holdings Plc, accounted for 1.998 billion shares worth N2.585 billion in 882 deals, contributing 67.36 per cent and 27.60 per cent to the total equity turnover volume and value respectively.

Also traded during the week were 60,171 units of Exchange Traded Products (ETPs) valued at N484,396.36, executed in 20 deals, compared with a total of 721 units valued at N250,859.50 transacted the previous week in 19 deals.

A total of 75,750 units of Federal Government Bonds valued at N128.722 million were also traded in the week in one deal.

However, there was no transaction recorded on bonds last week.

The NSE All-share index and market capitalisation appreciated by 6.59 per cent and 6.62 per cent to close the week at 28,642.25 and N9.851 trillion respectively.

Similarly, all other Indices finished higher during the week, with the exception of the NSE ASeM Index that closed flat.

42 equities appreciated in price during the week, higher than 26. equities of the previous week.

22 equities depreciated in price, lower than 27 equties of the previous week, while 126 equities remained unchanged, lower than one hundred and 137 equities recorded in the previous week.