Financial sector dominates trading with 85.5 per cent volume

The financial services industry dominated in volume terms on the equities sector of the Nigerian Stock Exchange (NSE) last week, with 726.294 million shares valued at N6.058 billion.

The sector led the activity chart last week, thus contributing 85.44 per cent and 66.87 per cent to the total equity turnover and value respectively.

Trading in the top three equities– Zenith International Bank Plc, United Bank for Africa Plc and Sterling Bank Plc (measured by volume), accounted for 334.012 million shares worth N3.674 billion in 1,472 deals, contributing 39.29 per cent and 40.56 per cent to the total equity turnover and value respectively.

Following the financial sector was the consumer goods industry with a turnover of 38.681 million shares worth N1.790 billion in 1,895 deals.

The conglomerates industry ranked third with 37.874 million shares worth N224.698 billion in 538 deals.

A turnover of 850.095 million shares worth N9.060 billion was recorded in 9,414 deals by investors, lower than a total of 1.384 billion shares valued at N13.862 billion that changed hands in 17,984 deals during the preceding week.

The drop in turnover may however, be attributed to the two-day holiday declared to commemorate the Eid-el-Kabir celebration.

Also traded during the week were 11,454 units of Exchange Traded Products (ETPs) valued at N449,180.74 executed in 13 deals, compared with a total of 1,189 units valued at N1.282 million transacted during the preceding week in 24 deals.

There was no bond trade recorded in the week under review, however, a total of 3,750 units valued at N3.299 million transacted last week in four deals.

The NSE All-Share Index and market capitalisation appreciated by 0.69 per cent to close on Friday at 30,543.17 and N10.497 trillion respectively.

Similarly, all the Indices finished higher during the week with the exception of the NSE Banking and NSE Pension Indices that shed 0.66 per cent and 0.28 per cent respectively, while the NSE ASeM Index closed flat.

Also, 29 equities appreciated in price during the week, lower than 56 equities of the preceding week, while 36 equities depreciated in price, higher than 22 equities of the preceding week and 125 equities remained unchanged, higher than 112 equities recorded in the preceding week.