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Financial Services Industry Attracts Investors At Stock Market

NSE Stock Market

By Modupe Gbadeyanka

At the stock market in Nigeria last week, the Financial Services Industry (measured by volume) led the activity chart with 491.758 million shares valued at N2.211 billion traded in 6,241 deals; thus contributing 76.90% and 34.25% to the total equity turnover volume and value respectively.

This was closely followed by the Conglomerates Industry with 64.507 million shares worth N58.500 million in 681 deals traded, while the third place was occupied by the Consumer Goods Industry with a turnover of 54.901 million shares worth N3.307 billion in 2,386 deals.

Trading in the Top Three Equities namely – Access Bank Plc, Diamond Bank Plc and Transnational

Corporation of Nigeria Plc (measured by volume) accounted for 210.407 million shares worth N527.918 million in 1,316 deals, contributing 32.91% and 8.18% to the total equity turnover volume and value respectively.

Also, a total of 27 equities appreciated in price at the market, higher than 10 equities of the previous week, while 26 stocks depreciated in price, lower than 48 equities of the previous week and 128 equities remained unchanged higher than 123 equities recorded in the preceding week.

Business Post correspondent equally reports that during the period under review, a turnover of 639.439 million shares worth N6.455 billion in 11,799 deals were traded this week by investors on the floor of the Nigeria Stock Exchange (NSE) in contrast to a total of 823.547 million shares valued at N5.444 billion that exchanged hands last week in 11,634 deals.

Also traded during the week were a total of 25 units of Exchange Traded Products (ETPs) valued at

N235.15 executed in 5 deals, compared with a total of 60 units valued at N537.00 transacted last week in 11 deals, while a total of 2,100 units of Federal Government Bonds valued at N1.838 million were traded in 2 deals compared to a total of 6,871 units of Federal Government Bonds valued at N5.990 million transacted last week in 8 deals.

Similarly, the NSE All-Share Index and Market Capitalization depreciated by 0.80% to close the week at 25,333.39 and N8.721 trillion respectively.

In addition, all other Indices finished lower during the week with the exception of the NSE Banking and NSE Consumer Goods Indices that appreciated by 0.02% and 0.42% respectively while the NSE ASeM Index closed flat.

Also during the week, Flour Mill led the top gainers’ table with an appreciation of N3.29k to close at N19.49k per share, AfriPrud rose by 37k to end at N2.92k per share and Fidson improved by 16k to finish at N1.40k per share.

Conversely, Forte Oil led the losers’ chart with a loss of N19.87k to close at N62.80k per share, Okomu Oil fell by N5.80k to finish at N36.20k per share and Neimeth sank by 11k to end at 75k per share.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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