Banks, Others Contributed 84% to Equity Volumes Last Week

• Banks, Others Contributed 84% to Equity Volumes Last Week

The banks and other financial institutions contributed 83.91 per cent to the total equity turnover volumes last week after the financial services industry (measured by volume) led the activity chart with 838.247 million shares valued at N5.134bn traded in 7,884 deals.

The financial services industry also contributed 45 per cent to the total equity turnover value of the Nigerian Stock Exchange.

The consumer goods industry followed with 45.589 million shares worth N3.225bn in 2,759 deals. The third place was occupied by conglomerates industry with a turnover of 35.563 million shares worth N60.673m in 627 deals.

It was a four-day trading week as the Federal Government declared September 1 and 4 as public holidays in commemoration of the Eid-el-Kabir Sallah celebration.

Meanwhile, a total turnover of 998.973 million shares worth N11.455bn in 13,626 deals were traded last week by investors on the floor of the Exchange in contrast to a total of 1.538 billion shares valued at N24.218bn that exchanged hands the penultimate week in 19,187 deals.

Trading in the top three equities namely – Custodian and Allied Plc, Sovereign Trust Insurance Plc and Fidelity Bank Plc (measured by volume) accounted for 383.065 million shares worth N829.743m in 650 deals, contributing 38.34 per cent and 7.24 per cent to the total equity turnover volume and value, respectively.

Also traded during the last week were a total of 86,063 units of Exchange Traded Products valued at N838,754.79 executed in eight deals compared with a total of 390 units valued at N6,511.60 transacted last week in five deals.

A total of 12,244 units of Federal Government bonds valued at N12.374m were traded last week in 11 deals, compared with a total of 3,657 units valued at N2,866,267.62 transacted in the penultimate week in nine deals.

The NSE All-Share Index and market capitalisation depreciated by 3.12 per cent to close the week at 35,504.62 and N12.237tn, respectively. Similarly, all other indices finished lower during the week with the exception of the NSE insurance and NSE oil/gas indices that appreciated by 1.90 per cent and 0.29 per cent, respectively, while the NSE ASeM index closed flat.

Nineteen equities appreciated in price during the week, lower than 32 in the previous week. Forty-eight equities depreciated in price, higher than 40 equities in the previous week, while 104 equities remained unchanged higher than 99 equities recorded in the preceding week.