Financial Services Industry Contributes 66.44% to Equity Volumes

• Financial Services Industry Contributes 66.44% to Equity Volumes

The financial services industry (measured by volume) led the activity chart of the Nigerian Stock Exchange last week with 1.024 billion shares valued at N10.946bn traded in 11,019 deals.

The industry contributed 66.44 per cent and 65.75 per cent to the total equity turnover volume and value, respectively.

The consumer goods industry followed with 213.704 million shares worth N3.053bn in 2,693 deals. The third place was occupied by oil and gas industry with a turnover of 158.643 million shares worth N908.260m in 1,897deals.

The market opened for four trading sessions last week, as the Federal Government declared March 30 and April 2, 2018 as public holidays.

Meanwhile, a total turnover of 1.541 billion shares worth N16.647bn in 18,805 deals were traded last week by investors on the floor of the Exchange in contrast to a total of 2.328 billion shares valued at N28.927bn that exchanged hands in the previous week in 25,530 deals.

Trading in the top three equities, namely, Zenith International Bank Plc, Champion Breweries Plc and Skye Bank Plc (measured by volume) accounted for 485.832 million shares worth N5.851bn in 2,221 deals, contributing 31.53 per cent and 35.15 per cent to the total equity turnover volume and value, respectively.

Also traded during the week were a total of 15,293 units of Exchange Traded Products valued at N254,840 executed in 16 deals, compared with a total of 4,165 units valued at N78,276.06 that was transacted the penultimate week in 15 deals.

A total of 21,583 units of Federal Government Bonds and one state bond valued at N22.868m were traded last week in 16 deals, compared with a total of 5,152 units valued at N4.562m transacted in 24 deals the previous week.

The NSE All-Share Index and market capitalisation appreciated by 0.08 per cent to close the week at 41,504.51 and N14.993tn, respectively. Similarly, all other indices finished lower during the week with the exception of the NSE Premium, NSE Consumer Goods, NSE Lotus II and NSE Pension Indices that appreciated by 1.15 per cent, 1.73 per cent, 1.58 per cent and 0.34 per cent, respectively.