Investors Trade N14.8b Stocks in 5 Days
By Modupe Gbadeyanka
A total turnover of 1.5 billion shares worth N14.8 billion were traded last week by investors in 19,318 deals on the floor of the Nigerian Stock Exchange (NSE) in contrast to a total of 1.8 billion shares valued at N17.2 billion transacted the previous week in 18,332 deals.
Data from the NSE disclosed that during the week, financial stocks witnessed the highest volume of transactions, leading the activity chart with 1.2 billion shares valued at N10.5 billion traded in 12,671 deals.
The financial sector, according to the NSE, contributed 82.95 percent and 71.00 percent to the total equity turnover volume and value respectively.
The Conglomerates Industry followed with 93.2 million shares worth N138 million in 916 deals, while the third place was occupied by the Consumer Goods Industry with a turnover of 71.4 million shares worth N3.2 billion in 2,698 deals.
Trading in the top three equities namely; United Bank for Africa (UBA), Zenith Bank and Consolidated Hallmark Insurance, measured by volume, accounted for 447.6 million shares worth N4.5 billion in 3,193 deals, contributing 30.83 percent and 30.11 percent to the total equity turnover volume and value respectively.
It was observed that during the week, the All-Share Index (ASI) and market capitalisation depreciated by 2.51 percent to close at 30,636.36 points and N11.424 trillion respectively.
Similarly, all other indices finished lower with the exception of the NSE Oil/Gas Index that rose by 0.05 percent.
A total of 16 equities appreciated in price during the week, lower than 40 in the previous week, while 50 stocks depreciated in price, higher than 25 of the previous week, with 102 equities remaining unchanged, lower than 103 equities recorded in the preceding week.
Also traded during the week were a total of 668 units of Exchange Traded Products (ETPs) valued at
N58,897.50 executed in 21 deals compared with a total of 34,341 units valued at N440,166.37 that was transacted a week earlier in 7 deals.
In addition, a total of 4,336 units of Federal Government Bonds valued at N4.308 million were traded in the week in 26 deals compared with a total of 3,498 units valued at N3.131 million transacted the previous week in 20 deals.