11 December 2017

Nigeria: Financial Stocks Dominate Deals On Exchange

The financial services industry (measured by volume) dominated the activity chart at the end of last week's transactions on the trading floor of the Nigerian Stock Exchange (NSE), with 2.785 billion shares valued at N26.075 billion in 18,293 deals.

This volume of shares traded in the financial sector contributed 83.97 per cent to the total equity turnover volume, while the conglomerates industry followed with 247.639 million shares worth N1.330 billion in 1,333 deals.

The third place was occupied by consumer goods industry with a turnover of 185.560 million shares worth N5.976billion in 6,137 deals.

Consequently, a total turnover of 3.316 billion shares worth N36billion was exchanged in 29,771 deals by investors on the floor of the Exchange in contrast to a total of 14.257 billion shares valued at N35.056billion that changed hands in 17,379 deals during the preceding week.

Trading in the top three equities namely - FBN Holdings Plc, Fidelity Bank Plc, and Zenith International Bank Plc (measured by volume) accounted for 958.742 million shares worth N11.355billion in 6,765 deals, contributing 28.91 per cent to the total equity turnover volume.

Also traded during the week were a total of 1.189 million units of Exchange Traded Products (ETPs) valued at N11.662million executed in 30 deals, compared with a total of 1,090 units valued at N14,708.50 that was transacted last week in 10 deals.

A total of 5,240 units of Federal Government Bonds valued at N4.406million were traded this week in 23 deals, compared with a total of 21,670 units valued at N23.125million transacted last week in 17 deals.

The NSE All-share index and market capitalisation appreciated by 3.46 per cent to close the week at 39,257.53 and N13.672trillion respectively.

Similarly, all other indices finished higher during the week with the exception of the NSE ASeM, NSE Oil/Gas, and the NSE Industrial Goods Indices that depreciated by 1.04 per cent, 0.47 per cent and 1.37 per cent respectively.

About 47 equities appreciated in price during the week, higher than 39 of the previous week, while 20 equities depreciated in price, lower than 23 equities of the previous week. Also, 105 equities remained unchanged lower than 109 equities recorded in the preceding week

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