Conglomerates Contribute 79.9% of Equities’ Volume Turnover

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  • Conglomerates Contribute 79.9% of Equities’ Volume Turnover

The conglomerates industry (measured by volume) led the activity chart of the Nigerian Stock Exchange last week with 11.396 billion shares valued at N14.534bn traded in 890 deals; thus contributing 79.94 per cent and 41.46 per cent to the total equity turnover volume and value, respectively.

The financial services industry followed with 2.484 billion shares worth N9.797bn in 9,205 deals. The third place was occupied by consumer goods industry with a turnover of 164.156 million shares worth N8.127m in 4,405 deals.

It was a four-day trading week as the Federal Government declared Friday, December 1, 2017 as a public holiday to mark Eid-el-Maulud celebration.

Meanwhile, a total turnover of 14.257 billion shares worth N35.056bn in 17,379 deals were traded in the week by investors on the floor of the Exchange in contrast to a total of 2.182 billion shares valued at N22.795bn that exchanged hands the penultimate week in 17,019 deals.

Trading in the top three equities (measured by volume) accounted for 12.998 billion shares worth N15.494bn in 1,813 deals, contributing 91.17 per cent and 44.20 per cent to the total equity turnover volume and value, respectively.

Also traded during the week were a total of 1,090 units of Exchange Traded Products valued at N14,708.50 executed in 10 deals, compared with a total of 127 units valued at N13,837.30 that was transacted the penultimate week in five deals.

A total of 21,670 units of Federal Government bonds valued at N23.125m were traded this week in 17 deals, compared with a total of 9,024 units valued at N9.485m transacted the penultimate week in 15 deals.

The NSE All-Share Index and market capitalisation appreciated by 1.55 per cent and 1.58 per cent to close the week at 37,944.60 and N13.215tn, respectively. Similarly, all other indices finished higher during the week with the exception of the NSE ASeM Index that closed flat.

Thirty-nine equities appreciated in price last week, higher than 36 of the previous week. Twenty-three equities depreciated in price, lower than 24 equities of the previous week, while 109 equities remained unchanged lower than 111 equities recorded in the preceding week.

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years experience as a foreign exchange research analyst and trader.

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