N23bn Stocks Exchange Hands in 21,156 Deals in One Week

By Modupe Gbadeyanka

Last week, 1.2 billion shares worth N22.8 billion were transacted on the floor of the Nigerian Stock Exchange (NSE) in 21,156 deals compared with the 2.1 billion stocks valued at N26.5 billion that exchanged hands the previous week in 24,262 deals.

A breakdown showed that equities in the financial services industry dominated trading with 837.5 million units worth N10.5 billion executed in 12,041 deals, contributing 67.69 percent and 46.17 percent to the total equity turnover volume and value respectively.

It was also observed that shares in the industrial goods sector followed with 154.5 million units worth N3.0 billion in 2,862 deals, while stocks in the ICT industry transacted 52.7 million units valued at N1.3 billion carried out in 709 deals.

From these transactions, Access Bank, Zenith Bank and Guaranty Trust Bank (GTBank) accounted for 421.8 million shares worth N8.8 billion in 5,886 deals, contributing 34.10 percent and 38.52 percent to the total equity turnover volume and value respectively.

In the week, 32 equities appreciated in price, higher than 21 equities in the previous week, while 28 stocks depreciated in price, lower than 42 equities in the previous week, with 103 equities closing flat, higher than 100 shares recorded in the preceding week.

Law Union and Rock Insurance led the gainers’ chart after appreciating by 38 percent to close at 69 kobo per share, while Honeywell Flour Mill rose by 14.56 percent to settle at N1.18 per share, with NEM Insurance growing by 12.24 percent to finish at N2.20 per share.

On the flip side, NCR Nigeria led the losers’ chart after depreciating by 18.27 percent to close at N3.31 per share, while Eterna dropped 12.50 percent to close at N3.15 per share, with Arbico losing 9.97 percent to close at N3.16 per share.

Business Post reports that the All-Share Index (ASI) and market capitalisation both posted a weekly growth of 0.03 percent to close at 29,628.84 points and N15.262 trillion respectively.

All other indices finished lower with the exception of NSE Premium, NSE Pension, NSE Insurance, NSE Oil/Gas, NSE Lotus ll and NSE Industrial Goods index, which appreciated by 0.61 percent, 0.65 percent, 3.05 percent, 2.54 percent, 0.02 percent, and 5.10 percent respectively, while NSE ASeM index closed flat.