Financial Stocks Contribute 73.82% to Equity Turnover
By Modupe Gbadeyanka
Stocks in the financial services sector of the Nigerian Stock Exchange (NSE) contributed 73.82 percent and 76.20 percent to the total equity turnover volume and value respectively last week.
Data obtained by Business Post from the stock exchange revealed the equities in the category dominated the activity chart with 1.0 billion shares valued at N11.8 billion executed in 8,275 deals.
Following were shares in the healthcare industry with 170.9 million units worth N49.1 million in 281 deals, and stocks in the conglomerates sector with a turnover of 83.6 million units valued at N205.8 million in 736 deals.
Access Bank, Union Diagnostics and Clinical Services, and Zenith Bank were the most active stocks by volume, accounting for 687.1 million units worth N6.5 billion in 2,964 deals, contributing 49.76 percent and 41.99 percent to the total equity turnover volume and value respectively.
In all, the volume of transactions in the five trading days increased from 1.0 billion units to 1.4 billion units, while the value rose from N14.628 billion to N15.504 billion, with the number of deals reducing to 14,528 from 14,974.
A total of 33 equities appreciated in price during the week, higher than 18 equities in the previous week, while 25 stocks depreciated in price, lower than 44 stocks in the previous week, with 107 equities closing flat, higher than 103 equities recorded in the preceding week.
During the week, the all-share index and market capitalisation reduced by 0.04 percent and 0.03 percent to close the week at 26,526.35 points and N12.804 trillion respectively.
All other indices finished higher with the exception of, NSE Premium, NSE-AFR Div Yield, NSE Oil and Gas, NSE Lotus ll and NSE Industrial Goods indices which depreciated by 0.86 percent, 3.14 percent, 0.68 percent, 0.06 percent and 0.49 percent respectively, while the NSE ASeM Index closed flat.
Also, during the week, a total of 4,990 units of Federal Government Bonds valued at N5.541 million were traded in 8 deals, compared with a total of 7,300 units valued at N8.073 million transacted a week earlier in 4 deals.
In addition, investors transacted a total of 11,839 units of Exchange-Traded Funds (ETFs) valued at N8.568 million were traded this week in 21 deals, compared with a total of 211,474 units valued at N2.379 million transacted in the preceding week in 22 deals.