N8.1bn Financial Stocks Exchange Hands in 12,488 Deals

By Modupe Gbadeyanka

Last week at the nation’s stock market, a total of 880.2 million shares in the financial services sector worth N8.1 billion were bought and sold by investors in 12,488 deals.

This made the industry contribute 62.15 percent and 46.90 percent to the total equity turnover volume and value respectively during the five-day trading week.

Trailing was the conglomerate industry, which recorded 283.9 million shares worth N1.6 billion in 841 deals, while the consumer goods space had a turnover of 80.8 million shares worth N2.4 billion in 2,871 deals.

During the week, the most traded three equities were UAC Nigeria, FBN Holdings and Access Bank, accounting for 554.9 million shares worth N4.3 billion in 4,113 deals, contributing 39.18 percent and 24.98 percent to the total equity turnover volume and value respectively.

Business Post reports that at the close of the week’s transactions, the Nigerian Stock Exchange (NSE) ended with a total turnover of 1.4 billion shares worth N17.3 billion in 20,303 deals, higher than the 2.1 billion shares valued at N33.9 billion transacted the previous week in 21,849 deals.

However, while the All-Share Index (ASI) appreciated week-on-week by 0.52 percent, the market capitalisation depreciated by 0.34 percent w-o-w to close at 26,991.42 points and N13.027 trillion respectively.

Data from the NSE showed that all other indices finished higher with the exception of NSE Premium, NSE Banking, NSE-AFR Bank Value and NSE Industrial Goods indices, which declined by 0.49 percent, 0.86 percent 0.28 percent and 2.25 percent respectively.

A total of 40 equities appreciated in price during the week, higher than 39 equities in the previous week, while 23 stocks depreciated in price, higher than 11 stocks in the previous week, with 102 shares remaining unchanged, lower than 116 shares recorded in the preceding week.

Neimeth International Pharmaceuticals was the highest price riser, growing by 40 percent to close at 56 kobo per share. Cornerstone Insurance gained 35.48 percent to close at 84 kobo per share, Chams rose by 33.33 percent to close at 36 kobo per share, Ikeja Hotel appreciated by 31.58 percent to close at N1.25 per share, while Conoil improved by 20.13 percent to close at N18.50 per share.

However, LASACO Insurance was the worst performing stock in the week, depreciating by 20.69 percent to close at 23 kobo per share, Jaiz Bank depreciated by 11.27 percent to close at 63 kobo per share, Associated Bus Company declined by 8.89 percent to close at 41 kobo per share, Sterling Bank fell by 8.52 percent to close at N2.04 per share, while AIICO Insurance depreciated by 6.58 percent to close at 71 kobo per share.