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Wema Bank, FBN Holdings lift NSE’s turnover by N18.5 billion

By Helen Oji   
08 February 2016   |   2:14 am
Heavy transactions in the shares of some banks, especially Wema Bank and FBN Holdings, last week lifted the volume of shares traded, as turnover of 5.1 billion shares worth N18.487 billion were recorded in 16,711 deals by investors on the floor of the Nigerian Stock Exchange (NSE). This was in contrast to 1.13 billion shares valued at…

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Heavy transactions in the shares of some banks, especially Wema Bank and FBN Holdings, last week lifted the volume of shares traded, as turnover of 5.1 billion shares worth N18.487 billion were recorded in 16,711 deals by investors on the floor of the Nigerian Stock Exchange (NSE).

This was in contrast to 1.13 billion shares valued at N9.463 billion that changed hands in 16,680 deals during the preceding week.

Specifically, the financial services industry (measured by volume) led the activity chart with 4.896 billion shares valued at N11.396 billion traded in 9,840 deals; thus contributing 96.25per cent and 61.64 per cent to the total equity turnover volume and value respectively.

The Conglomerates followed with 78.909 million shares worth N211.328 million in 604 deals.

The third place was occupied by the industrial goods industry with a turnover of 38.917 million shares worth N4.185 billion in 1,010 deals.

Trading in the top three equities namely – Wema Bank Plc, FBN Holdings Plc and Zenith International Bank Plc and (measured by volume) accounted for 4.261 billion shares worth N8, 548 billion in 3,763 deals, contributing 83.76per cent and 46.24 per cent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 34,089 units of Exchange Traded Products (ETPs) valued at N604, 908.34 executed in 34 deals, compared with a total of 183,064 units valued at N1.552 million transacted last week in 34 deals.

A total of 4,190 units of Federal Government Bonds valued at N4.884 million were traded in 5 deals, compared with a total of 120,100 units valued at N142.951 million transacted last week in 5 deals.

The NSE All-Share index and market capitalisation depreciated by 1.73per cent to close the week at 23,501.87and N8.083 trillion respectively.

Similarly, all other Indices finished lower during the week, with the exception of the NSE ASeM Index, NSE Insurance Index, and the NSE Oil/Gas Index that appreciated by 0.07per cent, 0.86 per cent and 4.02 per cent respectively.
30 equities appreciated in price during the week, lower than 38 equities of the previous week.

40 equities depreciated in price, higher than 29 equities of the previous week, while 120 equities remained unchanged, lower than 123 equities recorded in the previous week.

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