Money  

Financial stocks contribute 81.5 per cent to NSE’s turnover

Brokers on the floor of Nigerian Stock Exchange in Lagos.

Brokers on the floor of Nigerian Stock Exchange in Lagos.

The financial services Industry dominated in volume terms at the end of last week transactions on the trading floor of the Nigerian Stock Exchange (NSE) with 782.476 million shares valued at N4.114 billion in 10,477 deals.

This represents 81.5 per cent contribution to the total equity turnover volume and value respectively.

Following the financial service sector, last week, was the conglomerates Industry with 59.433 million units worth N99.619 million in 762 deals.

The consumer goods industry ranked third with a turnover of 46.553 million shares worth N2.833 billion in 2,703 deals.

Consequently, a turnover of 959.917 million shares worth N7.871 billion in 17,561 deals were recorded by investors on the Exchange in contrast to a total of 1.263 billion units valued at N11.583 billion that changed hands in 17,434 deals during the preceding week.

Trading in the top three equities namely – United Bank For Africa Plc, FBN Holdings Plc and Access Bank Plc.(measured by volume) accounted for 288.689 million shares worth N1.275 billion in 3,854 deals, contributing 30.07 per cent and 16.20 per cent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 78,666 units of Exchange Traded Products (ETPs) valued at N866,656.30 executed in 25 deals, compared with a total of 6,500 units valued at N117,637.20 transacted last week in 24 deals.

A total of 4,725 units of Federal Government Bonds valued at N5.266 million were traded in 3 deals compared to a total of 151,970 units of Federal Government and Corporate Bonds valued at N170.962 million transacted last week in 5 deals.

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