Financial Stocks Contribute 81% to NSE Weekly Trading Volume
By Modupe Gbadeyanka
A total of 1.5 billion shares worth N20.3 billion were traded by investors on the floor of the Nigerian Stock Exchange (NSE) in 23,263 deals last week in contrast to a total of 1.6 billion stocks valued at N26.1 billion transacted in 21,444 deals the previous.
Business Post learned that from these trades, equities in the financial services industry led the activity chart with 1.2 billion shares valued at N13.7 billion traded in 15,183 deals, contributing 81.14 percent and 67.64 percent to the total equity turnover volume and value respectively.
The consumer goods followed with 68.2 million shares worth N2.4 billion in 2,312deals, while the conglomerates sector came third with a turnover of 60.1 million shares worth N242.2 million in 922 deals.
A further analysis showed that Zenith Bank, FBN Holdings and GTBank accounted for 621.2 million shares worth N11.3 billion in 6,718 deals, contributing 42.03 percent and 55.56 percent to the total equity turnover volume and value respectively.
During the week, 15 equities appreciated in price, lower than 17 equities in the previous week, while 49 stocks depreciated in price, higher than 44 equities in the previous week, with 99 shares remaining unchanged, lower than 102 equities recorded in the preceding week.
Law Union and Rock Insurance was the best performing stock for the week. Share price of the company rose by 58.57 percent to close at N1.11 per share, while Union Bank gained 17.80 percent to finish at N6.95 per share.
Honeywell Flour rose by 13.40 percent to close at N1.10 per share, Livestock Feeds grew by 13.21 percent to finish at 60 kobo per share, while Japaul appreciated by 10.00 percent to close at 22 kobo per share.
The worst performing stock in the week was C&I Leasing. The company’s stocks went down by 26.53 percent to close at N5.40 per share.
Royal Exchange depreciated by 16.67 percent to finish at 25 kobo per share, Cadbury Nigeria lost 16.28 percent to close at N9 per share, NASCON declined by 13.33 percent to finish at N13 per share, while Eterna went down by 10.42 percent to close at N2.15 per share.
According to data from the stock exchange, last week, the All-Share Index and the market capitalisation depreciated by 2.69 percent and 1.61 percent to close at 28,067.09 points and N14.618 trillion respectively.
It was also revealed that all other indices finished lower with the exception of NSE insurance index, which appreciated by 0.23 percent, while the NSE ASeM index closed flat.