Financial Stocks Buoy Transactions on NSE as Index Gains 0.70%

By Dipo Olowookere

Last week, the Nigerian Stock Exchange (NSE) recorded a total turnover of 924.6 million shares worth N14.2 billion transacted in 14,119 deals compared with the 1.4 billion equities valued at N19.5 billion traded the previous week in 16,076 deals.

This was mainly buoyed by financial stocks, which led the activity chart by volume with 745.2 million shares valued at N9.5 billion traded in 8,329 deals.

With this, the sector alone contributed 80.60 percent and 66.77 percent to the total equity turnover volume and value respectively during the week.

According to data released by the NSE on Friday, stocks in the consumer goods sector followed with 67.2 million shares worth N3.8 billion in 2,221 deals, while the third place was occupied by equities in the conglomerates industry with a turnover of 49.3 million shares worth N135.4 million executed in 678 deals.

During the week, trading in the top three equities; GTBank, UBA and Fidelity Bank, measured by volume, accounted for 368 million shares worth N6.5 billion in 2,585 deals, contributing 39.81 percent and 45.69 percent to the total equity turnover volume and value respectively.

In the week, the All-Share Index (ASI) and market capitalisation appreciated by 0.70 percent to close at 32,766.37 points and N11.962 trillion respectively.

Similarly, all other indices finished higher with the exception of the NSE Consumer Goods, NSE Oil/Gas, NSE Lotus II and NSE Industrial Goods indices that finished lower by 0.51 percent, 0.73 percent 0.40 percent and 1.36 percent respectively, while the NSE Asem Index closed flat.

Business Post reports that a total of 28 equities appreciated in price during the week, lower than 50 in the previous week, while 41 equities depreciated in price, higher than 25 equities of the previous week, with 100 equities remaining unchanged, higher than 94 equities recorded in the preceding week.

Also traded during the week were a total of 97,183 units of Exchange Traded Products (ETPs) valued at N1.511 million executed in 4 deals compared with a total of 29,750 units valued at N449,662.50 that was transacted the previous week in 2 deals, while a total of 13,715 units of Federal Government Bonds valued at N13.242 million were traded last week in 49 deals compared with a total of 9,710 units valued at N9.587 million transacted a week earlier in 19 deals.