Zenith Bank, GTBank, Transcorp Contribute 31.45% to Weekly Trading Volume on NSE

By Dipo Olowookere

Shares of Zenith Bank Plc, GTBank Plc and Transcorp Plc contributed 31.45 per cent and 47.03 per cent to the total equity turnover volume and value respectively last week on the floor of the Nigerian Stock Exchange (NSE).

Data from the exchange obtained by Business Post revealed that the three stocks accounted for 298.9 million units worth N4.8 billion in 3,056 deals.

In the week, a total of 950.4 million shares worth N10.1 billion in 16,647 deals were traded by investors in contrast to a total of 1.3 billion shares valued at N13.9 billion that exchanged hands the prior week in 19,392 deals.

A breakdown showed that the financial services industry led the activity chart with 624.3 million shares valued at N6.2 billion traded in 8,313 deals, contributing 65.68 per cent and 61.06 per cent to the total equity turnover volume and value respectively.

The consumer goods industry followed with 96.3 million shares worth N2.2 billion in 3,148 deals, while the third place was the conglomerates industry, with a turnover of 89.4 million shares worth N145.6 million in 757deals.

It was gathered that 31 equities appreciated in price during the week, higher than 29 equities in the previous week. Also, 27 equities depreciated in price, lower than 33 equities in the previous week, while 105 equities remained unchanged, higher than 101 equities recorded in the previous week.

LASACO Assurance was the highest price gainer, rising by 26.92 per cent to settle at 33 kobo per share, while International Breweries followed with a price appreciation of 26.32 per cent to sell for N3.60 per share.

Cornerstone Insurance gained 18.37 per cent to finish at 58 kobo per unit, Neimeth International grew by 18.37 per cent to trade at N2.00 per unit, while University Press appreciated by 11.71 per cent to close at N1.24 per unit.

On the losers’ chart, Royal Exchange topped the table after losing 16.13 per cent to sell for 26 kobo per share, while ABC lost 14.89 per cent to close at 40 kobo per unit.

Conoil depreciated by 9.76 per cent to finish at N15.25 per share, PZ Cussons declined by 9.41 per cent to trade at N3.85 per unit, whole UAC Nigeria reduced by 8.33 per cent to sell for N5.50 per share.

A look at the key performance indicators of the market for the week showed that the All-Share Index (ASI) and market capitalisation both appreciated by 0.09 per cent to close at 25,221.87 points and N13.158 trillion respectively.

All other indices finished higher with the exception of NSE oil/gas, NSE Lotus and industrial goods indices which depreciated by 0.92 per cent, 0.12 per cent and 0.41 per cent while the NSE ASeM closed flat.