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Financial Stocks Contribute 76.60% to Total Equity Turnover

By Modupe Gbadeyanka

This week, the Financial Services Industry, measured by volume, led the activity chart with 1.784 billion shares valued at N20.4 billion traded in 16,823 deals, contributing 76.60 percent and 70.47 percent to the total equity turnover volume and value respectively.

This was followed by the Consumer Goods Industry with 171.1 million shares worth N5.4 billion in 4,055 deals, and the Oil and Gas Industry with a turnover of 124.1 million shares worth N296.7 million in 1,607 deals.

Trading in the top three equities; Zenith Bank, Access Bank and Fidelity Bank, measured by volume, accounted for 664.4 million shares worth N10.7 billion in 6,429 deals, contributing 28.54 percent and 36.85 percent to the total equity turnover volume and value respectively.

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At the close of the week, a total turnover of 2.3 billion shares worth N28.9 billion in 25,530 deals were traded by investors on the floor of the Nigerian Stock Exchange (NSE) in contrast to a total of 2.4 billion shares valued at N36.7 billion that exchanged hands last week in 26,712 deals.

During the week, 33 equities appreciated in price, higher than 25 of the previous week, while 49 equities depreciated in price, lower than 60 equities of the previous week, and 89 equities remained unchanged, higher than 86 equities recorded in the preceding week.

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For the market indices, the All-Share Index and market capitalization depreciated by 1.11 percent and 0.14 percent to close the week at 41,472.10 points and N14.982 trillion respectively.

Similarly, all other indices finished lower during the week with the exception of the NSE CG, NSE Banking and NSE Pension indices that appreciated by 1.07 percent, 3.31 percent and 1.67 percent respectively.

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Also traded during the week were a total of 4,165 units of Exchange Traded Products (ETPs) valued at N78,276.06 executed in 15 deals compared with a total of 1.889 million units valued at N10.5 million transacted last week in  4 deals.

In addition, a total of 5,152 units of Federal Government Bonds valued at N4.6 million were traded this week in 24 deals compared with a total of 40,566 units valued at N44.3 million transacted last week in 29 deals.

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Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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