Investors Trade 1.5b Shares Worth N15b in Four Days

October 8, 2017
Investors Trade 1.5b Shares Worth N15b in Four Days

By Dipo Olowookere

Last week, on the floor of the Nigerian Stock Exchange (NSE), a total turnover of 1.493 billion shares worth N15.107 billion in 14,549 deals were traded by investors in contrast to a total of 1.326 billion shares valued at N14.086 billion that exchanged hands last week in 14,703 deals.

The market only opened for four days due to the public holiday declared by the Federal Government on Monday, October 2, 2017 in commemoration of the 57th Independence Day of the country.

During the week, the Financial Services Industry (measured by volume) led the activity chart with 1.288 billion shares valued at N10.121 billion traded in 8,334 deals; thus contributing 86.30 percent and 66.99 percent to the total equity turnover volume and value respectively.

The Consumer Goods Industry followed with 89.259 million shares worth N3.154 billion in 2,760 deals, while the third place was occupied by Conglomerates Industry with a turnover of 49.361 million shares worth N113.737 million in 491 deals.

Trading in the Top Three Equities namely – FCMB Group Plc, Diamond Bank Plc and FBN Holdings Plc (measured by volume) accounted for 659.042 million shares worth N1.312 billion in 1,933 deals, contributing 44.14 percent and 8.69 percent to the total equity turnover volume and value respectively.

Also, the All-Share Index (ASI) and market capitalization appreciated by 2.49 percent and 2.34 percent to close the week at 36,320.93 and N12.502 trillion respectively.

Similarly, all other Indices finished higher during the week with the exception of NSE Insurance index that depreciated by 1.21 percent while the NSE ASeM Index closed flat.

During the week, 38 equities appreciated in price, higher than 32 of the previous week, while 26 equities depreciated in price, lower than 32 equities of the previous week, and 107 equities remained unchanged same as 107 equities recorded in the preceding week.

Also traded during the week were a total of 2,000 units of Exchange Traded Products (ETPs) valued at N34,000.00 executed in 1 deal compared with a total of 274 units valued at N636,147.90 transacted a week earlier in18 deals.

In addition, a total of 2,360 units of Federal Government Bonds valued at N2.029 million were traded in 7 deals, compared with a total of 7,424 units valued at N6.689 million transacted the previous week in 18 deals.

Dipo Olowookere

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 [email protected]

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