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Banking, Insurance Stocks Lead NSE N24b Turnover in 4 Days

By Dipo Olowookere

Activities on the floor of the Nigerian Stock Exchange (NSE) occurred for only four days this week due to the public holiday declared by the Federal Government on Monday, May 29, 2017 to mark the 2017 Democracy Day celebration.

But at the close of the four-day trading week, heavy transactions in the shares of some banks and insurance stocks lifted the volume and value of shares traded by investors as a total turnover of 2.319 billion shares worth N23.813 billion in 22,310 deals were traded against a total of 1.877 billion shares valued at N20.055 billion that exchanged hands last week in 19,979 deals.

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Business Post learnt that in the above figure, the Financial Services Industry accounted for 1.950 billion shares valued at N15.479 billion traded in 14,381 deals; thus contributing 84.12 percent and 65.00 percent to the total equity turnover volume and value respectively.

It was closely followed by the Consumer Goods Industry with 156.358 million shares worth N2.875 billion in 2,804 deals. The third place was occupied by Conglomerates Industry with a turnover of 70.452 million shares worth N168.377 million in 739 deals.

Trading in the Top Three Equities namely – Diamond Bank Plc, FBN Holding Plc and United Bank for

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Africa Plc (measured by volume) accounted for 978.710 million shares worth N4.137 billion in 5,028 deals, contributing 42.21 percent and 17.37 percent to the total equity turnover volume and value respectively.

Also, the NSE All-Share Index (ASI) and market capitalization appreciated by 7.94 percent to close the week at 31,371.63 and N10.845 trillion respectively.

Similarly, all other Indices finished higher during the week with the exception the NSE Oil/Gas Index that depreciated by 4.54 percent while the NSE ASeM Index closed flat.

Furthermore, 61 equities appreciated in price during the week, higher than 44 equities of the previous week, while 12 equities depreciated in price, lower than 25 equities of the previous week, and 100 equities remained unchanged lower than 104 equities recorded in the preceding week.

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Also traded during the week were a total of 52 units of Exchange Traded Products (ETPs) valued at

N13,802.70 executed in 6 deals compared with a total of 65 units valued at N1,967.85 transacted last week in 7 deals, while a total of 3,786 units of Federal Government Bonds valued at N3.806 million were traded this week in 4 deals, compared with a total of 50 units valued at N43,719.69 transacted last week in 1 deals.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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