Financial Stocks Drive NSE Turnover by 90.49% as Index Sheds 3.39%

By Dipo Olowookere

This week, the Financial Services Industry (measured by volume) led the activity chart with 4.005 billion shares valued at N16.501 billion traded in 19,035 deals; thus contributing 90.49 percent and 68.08 percent to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 167.723 million shares worth N464.656 million in 1,568 deals.

The third place was occupied by Consumer Goods Industry with a turnover of 137.657 million shares worth N5.334 billion in 4,982 deals.

Trading in the top three equities namely; Sterling Bank, Skye Bank and FCMB (measured by volume) accounted for 2.520 billion shares worth N5.277 billion in 3,000 deals, contributing 56.95 percent and 21.77 percent to the total equity turnover volume and value respectively.

Business Post reports that a total turnover of 4.426 billion shares worth N24.236 billion in 29,573 deals were traded this week by investors on the floor of the Nigerian Stock Exchange (NSE) in contrast to a total of 3.268 billion shares valued at N28.123 billion that exchanged hands last week in  35,761 deals.

Furthermore, the NSE All-Share Index and Market Capitalization depreciated by 3.39 percent to close the week at 43,127.92 points and N15.477 trillion respectively.

Similarly, all other indices finished lower during the week with the exception the NSE ASeM Index that closed flat.

During the week, 23 equities appreciated in price, lower than 49 of the previous week, while 64 equities depreciated in price, higher than 42 equities of the previous week, and 85 equities remained unchanged higher than 81 equities recorded in the preceding week.

Also traded during the week were a total of 1.200 million units of Exchange Traded Products (ETPs) valued at N6.951  million executed in 10 deals, compared with a total of 32,189 units valued at N1.299 million that was transacted last week in 19 deals.

Furthermore, a total of 14,779 units of Federal Government Bonds valued at N14.050 million were traded this week in 18 deals, compared with a total of 16,268 units valued at N17.053 million transacted last week in 28 deals.