Financial Stocks Increase NSE Turnover by N41b in 5 Days

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By Modupe Gbadeyanka

A total turnover of 2.804 billion shares worth N54.776 billion in 17,792 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.316 billion shares valued at N13.784 billion that exchanged hands last week in 19,169 deals.

This was N40.992 billion more than the value of equities transacted last week by investors on the floor of the Nigerian Stock Exchange (NSE).

The Financial Services Industry (measured by volume) led the activity chart with 2.352 billion shares valued at N8.995 billion traded in 9,364 deals; thus contributing 83.88% and 16.42% to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 178.982 million shares worth N16.849 billion in 4,297 deals.

The third place was occupied by Industrial Goods Industry with a turnover of 140.570 million shares worth N27.848 billion in 794 deals.

Trading in the Top Three Equities namely – Sovereign Trust Insurance Plc, FBN Holdings Plc and Dangote Cement Plc (measured by volume) accounted for 1.917 billion shares worth N29.875 billion in 2,130 deals, contributing 68.37% and 54.54% to the total equity turnover volume and value respectively.

However, the NSE All-Share Index and market capitalization depreciated by 1.12 percent and 0.57 percent to close the week at 36,703.58 points and N12.774 trillion respectively.

Similarly, all other indices finished lower during the week with the exception of the NSE Oil/Gas Index that appreciated by 0.85 percent.

This week recorded 20 equities appreciating in price, lower than 30 of the previous week, while 43 equities depreciated in price, higher than 29 equities of last week, and 108 equities remained unchanged lower than 112 equities recorded in the preceding week.

Business Post reports that there were no trades recorded in Exchange Traded Products (ETPs) this week compared with a total of 1,210 units valued at N13,467.70 transacted last week in 2 deals, while total of 5,950 units of Federal Government Bonds valued at N6.247 million were traded this week in 2 deals, compared with a total of 2,806 units valued at N2.623 million transacted last week in 16 deals.

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