Index Rises 8.36% as UBA Boosts NSE Trades by N30.6b

By Dipo Olowookere

In the just concluded trading week, the Nigerian Stock Exchange (NSE) All-Share Index (ASI) and market capitalization appreciated by 8.36 percent to close the week at 36,864.71 points and N12.705 trillion respectively.

Similarly, all other Indices finished higher during the week with the exception of the NSE ASeM Index, which weakened by 1.09 percent.

Trading in the top three equities namely, United Bank for Africa (UBA) Plc; FBN Holdings Plc; and Access Bank Plc, measured by volume, accounted for 798.334 million shares worth N7.165 billion in 5,855 deals, contributing 36.11 percent and 23.39 percent to the total equity turnover volume and value respectively.

During the five-day trading week, a total turnover of 2.211 billion shares worth N30.636 billion in 26,287 deals were traded by investors on the floor of the NSE in contrast to a total of 3.628 billion shares valued atN34.886 billion that exchanged hands last week in 19,834 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.735 billion shares valued at N19.044 billion traded in 14,626 deals; thus contributing 78.45% and 62.16% to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 165.396 million shares worth N454.240 million in 1,400 deals.

The third place was occupied by Consumer Goods Industry with a turnover of 135.802 million shares worth N6.681 billion in 4,143 deals.

Also traded during the week were a total of 1.732 million units of Exchange Traded Products (ETPs) valued at N13.711 million executed in 19 deals compared with a total of 40 units valued at N493.60 transacted last week in 4 deals

A total of 750 units of Federal Government Bonds valued at N695,229.29 were traded this week in 8 deals, compared with a total of 13,465 units valued at N14.486 million transacted last week in 10 deals.

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. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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