Investors Trade N11.2b Shares as Index Sheds 0.02%

By Dipo Olowookere

A total turnover of 1.107 billion shares worth N11.192 billion in 14,430 deals were traded last week by investors on the floor of the Nigerian Stock Exchange (NSE) in contrast to a total of 1.199 billion equities valued at N14.277 billion that exchanged hands the previous week in 15,841 deals. 

Data from the NSE said the Financial Services industry, measured by volume, led the activity chart with 891.032 million shares valued at N7.180 billion traded in 8,929 deals, contributing 80.50 percent and 64.16 percent to the total equity turnover volume and value respectively. 

The Oil and Gas sector followed with 76.097 million shares worth N519.777 million in 993 deals, while the third place was taken by the Services industry with a turnover of 45.890 million shares worth N81.670 million in 355 deals. 

During the week, trading in the top three equities; FBN Holdings, First City Monument Bank, and Diamond Bank, measured by volume, accounted for 547.260 million shares worth N2.409 billion in 2,605 deals, contributing 49.44 percent and 21.53 percent to the total equity turnover volume and value respectively.

The All-Share Index and market capitalisation depreciated by 0.02 percent to close the week at 30,866.82 and N11.269 trillion respectively. 

Similarly, all other indices finished lower with the exception of the NSE CG, NSE Main Board, NSE 30, NSE Banking, NSE Consumer Goods, NSE Oil and Gas, NSE Lotus II and NSE Pension Indices that rose by 0.82 percent, 0.41 percent, 0.10 percent, 0.89 percent, 0.64 percent, 1.98 percent, 0.08 percent and 0.03 percent respectively while the NSE ASeM index closed flat. 

A total of 30 equities appreciated in price during the week, higher than 25 in the previous week, while 38 equities depreciated in price, lower than 41 of the previous week, and 101 equities remained unchanged lower than 103 equities recorded in the preceding week. 

Also traded during the week were a total of 84,714 units of Exchange Traded Products (ETPs) valued at N1.219 million executed in 10 deals, while there was no transaction recorded a week earlier. In addition, a total of 2,908 units of Federal Government Bonds worth N2.516 million were traded in the week in 11 deals compared with a total of 16,686 units valued at N16.442 million transacted the previous week in 10 deals.