Financial Stocks Contribute 86.8% to total Equity Turnover

By May 30, 2017 Investment News
The financial services industry dominated in volume terms at the end of last week’s transactions on the trading floor of the Exchange with 1.629 billion shares valued at N14.501 billion traded in 11,893 deals, thus contributing 86.80 per cent to the total equity turnover.The consumer goods industry followed with 57.531 million shares worth N2.189 billion in 2,616 deals.

The third place was occupied by the conglomerates industry with a turnover of 52.220 million shares worth N101.384 million in 789 deals.

Consequently, a total turnover of 1.877 billion shares worth N20.055 billion was recorded in 19,979 deals by investors on the Nigerian Stock Exchange (NSE) last week, in contrast to a total of 2.271 billion shares valued at N32.647 billion that changed hands in 20,710 deals during the preceding week.

Trading in the top three equities namely – Diamond Bank Plc, Access Bank Plc and Zenith International Bank Plc accounted for 799.472 million shares worth N6.103 billion in 3,313 deals, contributing 42.60 per cent total equity turnover volume.

Also traded during the week were a total of 65 units of Exchange Traded Products (ETPs) valued at N1,967.85 executed in seven deals compared with a total of 1,470 units valued at N10,128.30 transacted last week in two deals.

A total of 50 units of Federal Government Bonds valued at N43,719.69 were traded this week in one deal, compared with a total of 6,308 units valued at N5.481 million transacted last week in three deals.

The NSE All-share index and market capitalisation appreciated by 3.38 percent to close the week at 29,064.52 and N10.048 trillion respectively.

Source: Guardian