Financial Stocks Contribute 71% to Equity Turnover Volume

By Dipo Olowookere

A total turnover of 2.2 billion shares worth N39 billion in 24,657 deals were traded this week by investors on the floor of the Nigerian Stock Exchange (NSE) in contrast to a total of two billion shares valued at N21.7 billion that exchanged hands last week in 25,496 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.5 billion shares valued at N17.7 billion traded in 15,208 deals; thus contributing 70.69 percent and 45.21 percent to the total equity turnover volume and value respectively.

The Industrial Goods Industry followed with 200.4 million shares worth N6.4 billion in 1,097 deals, while the third place was occupied by Conglomerates Industry with a turnover of 188.1 million shares worth N489.5 million in 998 deals.

Trading in the top three equities; FCMB Group Plc, Transnational Corporation of Nigeria (Transcorp) Plc and Cement Company of Northern Nigeria Plc (measured by volume) accounted for 617.5 million shares worth N4.1 billion in 2,090 deals, contributing 28.46 percent and 10.45 percent to the total equity turnover volume and value respectively.

During the week, the NSE All-Share Index and Market Capitalization appreciated by 0.72 percent and 0.82 percent to close at 42,876.23 points and N15.403 trillion respectively.

Similarly, all other indices finished higher during the week with the exception of the NSE ASeM, NSE Banking and NSE Pension Indices that depreciated by 1.14 percent, 0.59 percent and 0.09 percent respectively.

Furthermore, 38 equities appreciated in price during the week, higher than 23 of the previous week, while 45 equities depreciated in price, lower than 54 equities of the previous week, and 89 equities remained unchanged lower than 95 equities recorded in the preceding week.

Also traded during the week were a total of 50,547 units of Exchange Traded Products (ETPs) valued at N4.6 million executed in 12 deals, compared with a total of 111,794 units valued at N1.8 million transacted last week in 10 deals, while a total of 6,574 units of Federal Government Bonds valued at N6.3 million were traded this week in 31 deals, compared with a total of 9,963 units valued at N10.1 million transacted last week in 21 deals.