By Modupe Gbadeyanka
Shares in the financial services sector dominated transactions at the Nigerian Stock Exchange (NSE) last week, contributing 69.8 per cent to the total equity turnover volume.
According to data from the exchange, a total of 629.4 million financial stocks valued at N5.2 billion were traded during the week in 9,887 deals.
In terms of total equity turnover value, the sector contributed 38.6 per cent.
In the week, equities in the ICT space traded 59.5 million units worth N5.2 billion in 684 deals, while shares in the consumer goods industry transacted 57.1 million units valued at N1.4 billion in 2,993 deals.
It was observed that GTBank, Fidelity Bank and Zenith Bank led the activity chart with 293.7 million units sold for N4.0 billion in 4,334 deals, and contributed 32.58 per cent and 30.05 per cent to the total equity turnover volume and value respectively.
At the close of the week, a total of 901.5 million shares worth N13.5 billion were exchanged in 18,676 deals as against the previous week’s 961.8 million shares valued at N9.2 billion traded in 20,058 deals.
On the price movement chart, 25 stocks found their way on the gainers’ log, higher than 13 equities in the previous week. Also, 33 stocks were on the losers’ table, lower than 59 equities in the previous week, while 105 equities remained unchanged, higher than 91 equities recorded in the previous week.
Red Star Express topped the gainers’ list, gaining 18.52 per cent to close at N3.52 per share, while PZ Cussons grew by 15.38 per cent to finish at N4.50 per share.
Furthermore, Sterling Bank gained 13.04 per cent to close at N1.30 per share, Cornerstone Insurance increased by 10.00 per cent to settle at 55 kobo per share, while Zenith Bank grew by 9.51 per cent to finish at N16.70 per share.
On the flip side, Custodian Investment ended as the highest price lower, depreciating by 10.91 per cent to close at N4.90 per share.
Conoil lost 10.00 per cent to finish at N18.90 per share, Beta Glass fell by 9.95 per cent to finish at N61.55 per share, while MRS Oil and Unilever Nigeria depreciated by 9.78 per cent each to close at N12.45 per share and N12.45 per cent respectively.
The All-Share Index and market capitalisation of both depreciated by 0.12 per cent to close the week at 24,306.36 points and N12.680 trillion respectively.
Business Post reports that all other indices finished lower with the exception of NSE CG, NSE Premium, NSE Banking, NSE Pension, NSE-AFR Bank Value, NSE AFR Div Yield and NSE MERI Value indices which appreciated by 2.37 per cent, 0.89 per cent, 5.85 per cent, 1.13 per cent, 5.86 per cent, 4.66 per cent and 4.36 per cent respectively.
