Investors Trade N21.7bn Shares in 14,906 Deals

By Modupe Gbadeyanka

A total of 2.3 billion shares valued at N21.7 billion were traded in 14,906 deals last week by investors on the floor of the Nigerian Stock Exchange (NSE) in contrast to a total of 735.7 million shares worth N7.1 billion transacted in 7,138 deals the previous week.

Last week, the market opened for four trading days due to the public holiday declared by the federal government on Wednesday, January 1, 2020 to mark the New Year celebrations.

But during the trading week, stocks in the financial sector led the activity chart by volume with 1.9 billion units worth N10.2 billion executed in 9,287 deals, contributing 83.31 percent and 46.82 percent to the total equity turnover volume and value respectively.

Equities in the conglomerates space trailed with 188.5 million shares worth N284.5 million in 530 deals, while stocks in the industrial goods industry recorded a turnover of 56.0 million shares worth N4.8 billion in 1,304 deals.

Trading in Omoluabi Mortgage Bank, Transcorp and Zenith Bank accounted for 1.1 billion shares worth N3.6 billion in 2,249 deals, contributing 48.98 percent and 16.61 percent to the total equity turnover volume and value respectively.

A total of 44 equities appreciated in price during the week, higher than 31 equities in the previous week, while 24 equities depreciated in price, higher than 17 equities in the previous week, with 97 equities remaining unchanged, lower than 117 equities recorded in the preceding week.

At the close of transactions, the All-Share Index and market capitalisation appreciated by 2.09 percent to close at 26,968.79 points and N13.019 trillion respectively, while all other indices finished higher with the exception of NSE ASeM Index, which closed flat.

For the bond market, a total of 204,300 units of Federal Government Bonds valued at N237.2 million were traded in the week in 4 deals compared with a total of 1.1 million units valued at N1.3 million transacted a week earlier in 24 deals.

In addition, a total of 4,033 units of Extended Traded Funds (ETFs) valued at N4.2 million were traded in 26 deals in contrast to a total of 14,443 units valued at N3.0 million transacted the previous week in 19 deals.