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Investors Trade 983m Financial Stocks Worth N9.4b in 5 Days

By Dipo Olowookere

A total turnover of 1.2 billion shares worth N14.8 billion in 14,554 deals were traded this week by investors on the floor of the Nigerian Stock Exchange (NSE) in contrast to a total of 1.1 billion equities valued at N11.2 billion that exchanged hands last week in 14,430 deals.

The Financial Services sector, measured by volume, led the activity chart with 983.4 million shares valued at N9.4 billion traded in 8,484 deals, contributing 84.15 percent and 63.39 percent to the total equity turnover volume and value respectively.

Following were the Healthcare industry with 44.8 million shares worth N183.8 million in 253deals, and the Consumer Goods sector with a turnover of 42.8 million equities valued at N3.6 billion in 2,227 deals.

Trading in the top three equities; Zenith Bank, FBN Holdings and United Bank for Africa (UBA), measured by volume, accounted for 438.9 million shares worth N5.7 billion in 2,962 deals, contributing 37.56 percent and 38.55 percent to the total equity turnover volume and value respectively.

For the five trading days, the NSE All-Share Index depreciated by 0.63 percent while the market capitalisation went down by 0.58 percent to close the week at 30,672.79 points and N11.204 trillion respectively.

Similarly, all other indices finished lower with the exception of the NSE ASeM, NSE Banking, NSE Insurance and NSE Industrial Goods indices that rose by 0.71 percent, 0.18 percent, 0.20 percent, and 0.81 percent respectively.

During the week, a total of 34 equities appreciated in price, higher than 30 in the previous week, while 37 stocks declined in price, lower than 38 of the previous week, and 98 equities remained unchanged lower than 101 equities recorded in the preceding week.

Also traded during the week were a total of 316 units of Exchange Traded Products (ETPs) valued at N849,000 executed in 5 deals compared with a total of 84,714 units valued at N1.219 million that was transacted last week in 10 deals. In addition, a total of 10,934 units of Federal Government Bonds valued at N10.746 million were transacted this week in 31 deals compared with a total of 2,908 units valued at N2.516 million exchanged the previous week.

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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