UBA, First Bank, Others Lift NSE Turnover by N14b in 5 Days

By Modupe Gbadeyanka

Heavy transactions in the shares of some banks and insurance companies lifted the volume of equities traded on the floor of the Nigerian Stock Exchange (NSE) this week as a total of 1.272 billion shares worth N13.993 billion in 19,385 deals were traded by investors in contrast to 1.061 billion units that exchanged hands last week in 18,847 deals shares valued at N12.295 billion.

In particular, at the close of trading activities at the local bourse this week, the financial services industry, measured by volume, led the activity chart with 1.086 billion shares valued at N9.743 billion traded in 11,229 deals; thus contributing 85.33 percent and 69.63 percent to the total equity turnover volume and value respectively.

The consumer goods industry followed with 44.786 million shares worth N1.536 billion in 2,853 deals, while the third place was occupied by the conglomerates industry with a turnover of 38.104 million shares worth N75.759 million in 727 deals.

Trading in the Top Three Equities namely – United Bank for Africa Plc, FBN Holdings Plc and Zenith Bank Plc (measured by volume) accounted for 505.388 million shares worth N5.454 billion in 4,009 deals, contributing 39.73 percent and 38.98 percent to the total equity turnover volume and value respectively.

In addition, the All-Share Index (ASI) and market capitalization appreciated by 2.47 percent to close the week at 33,261.66 and N11.464 trillion respectively.

Similarly, all other indices finished higher during the week with the exception of the NSE ASeM index that closed flat.

Furthermore, 48 equities appreciated in price during the week, higher than 16 equities of the previous week.

However, 27 equities depreciated in price, lower than 51 equities of the previous week, while 97 equities remained unchanged lower than 105 equities recorded in the preceding week.

Also traded during the week were a total of 25,540 units of Exchange Traded Products (ETPs) valued at N2.646 million executed in 10 deals compared with a total of 5 units valued at N484.85 transacted last week in 1 deal.

In addition, a total of 2,977 units of Federal Government Bonds valued at N2.946 million were traded this week in 11 deals, compared with a total of 358 units valued at N344,610 transacted last week in 7 deals.