Omoluabi Mortgage Bank, Others Buoy Equity Turnover by 67.69%

By Dipo Olowookere

Last week, a total turnover of 2.051 billion shares worth N16.126 billion in 13,508 deals were traded by investors on the floor of the Nigerian Stock Exchange (NSE), lower than the total of 896.610 million shares valued at N16.561 billion that exchanged hands the previous week in 12,638 deals.

During the week, stocks in the financial services sector led the activity chart by volume with 1.784 billion shares valued at N12.588 billion traded in 8,469 deals, contributing 87.00 percent and 78.06 percent to the total equity turnover volume and value respectively.

This was trailed by equities in the conglomerates industry with 98.429 million shares worth N120.779 million in 444 deals, while shares in the construction/real estate space recorded a turnover of 57.873 million units valued at N66.019 million in 90 deals.

Trading in Omoluabi Mortgage Bank, Zenith Bank and Transcorp measured by volume accounted for 1.388 billion shares worth N9.067 billion in 2,221 deals, contributing 67.69 percent and 56.22 percent to the total equity turnover volume and value respectively.

Business Post reports that during the five-day trading week, the All-Share Index and market capitalisation both depreciated by 0.38 percent to close at 26,348.73 points and N12.826 trillion respectively.

Similarly, all other indices finished lower with the exception of NSEMERI Growth Index, which appreciated by 0.19 percent.

A total of 18 equities appreciated in price in the week, lower than 19 in the previous week, while 33 equities depreciated in price, higher than 23 equities in the previous week, with 115 equities remaining unchanged, lower than 124 equities recorded in the preceding week.