Financial Stocks Contribute 76.79% to Equity Turnover

November 12, 2017
financial stocks

By Dipo Olowookere

The Nigerian Stock Exchange (NSE) ended last week on a positive note with the All-Share Index (ASI) and the market capitalization appreciated by 1.31 percent to close the week at 36,939.59 points and N12.785 trillion respectively.

In addition, all other Indices finished higher during the week with the exception of the NSE-Main Board and NSE Consumer Goods Indices that depreciated by 0.11 percent and 0.07 percent respectively.

A total turnover of 1.363 billion shares worth N17.714 billion in 21,891 deals were traded during the week by investors on the floor of the NSE in contrast to a total of 1.394 billion shares valued at N16.403 billion that exchanged hands last week in 19,195 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.046 billion shares valued at N9.032 billion traded in 12,847 deals; thus contributing 76.79 percent and 50.99 percent to the total equity turnover volume and value respectively.

The Consumer Goods Industry followed with 119.907 million shares worth N5.109 billion in 4,827 deals, while the third place was occupied by Healthcare Industry with a turnover of 70.587 million shares worth N77.530 million in 349 deals.

Trading in the Top Three Equities namely – FBN Holdings Plc, Diamond Bank Plc and United Bank for Africa Plc (measured by volume) accounted for 497.016 million shares worth N2.947 billion in 4,205 deals, contributing 36.48 percent and 16.64 percent to the total equity turnover volume and value respectively.

During the week, 37 equities appreciated in price, higher than 33 of the previous week, while 29 equities depreciated in price, lower than 32 equities of the previous week, and 105 equities remained unchanged lower than 106 equities recorded in the preceding week.

Also traded during the week were a total of 1,156,439 units of Exchange Traded Products (ETPs) valued at N6.404 million executed in 13 deals compared with a total of 104,544 units valued at

N11.506 million transacted the previous week in 7 deals, while a total of 2,775 units of Federal Government Bonds valued at N2.770 million were traded in 4 deals, compared with a total of 559 units valued at N485,802.83 transacted the preceding week in 5 deals.

Dipo Olowookere

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

Mr Olowookere can be reached via [email protected]

Leave a Reply

Ganduje Empowers 5,200 Kano Tea Sellers with N208m
Previous Story

Ganduje Empowers 5,200 Kano Tea Sellers with N208m

Kayode Fayemi NCMMRD
Next Story

Ministry of Mines Denies Spending N700m on Website

Latest from Economy

Don't Miss