Investors stake N10.5b on equities in four days

European stockA turnover of 1.552 billion shares worth N10.45 billion were recorded in  14,994 deals by investors on the floor of the Exchange at the end of trading sessions last week, in contrast to a total of 11.91 billion units valued at N18.34 billion that exchanged hands the previous week in 19,508 deals.

The drop in turnover may however, partly be attributed to the one – day holiday declared on Friday to commemorate the ‘Good Friday’ celebrations.

Specifically, the financial services industry (measured by volume) led the activity chart with 1.187 billion shares valued at N7.298 billion, traded in 10,457 deals, thus contributing 76.49 per cent and 69.82 per cent to the total equity turnover volume and value respectively.

The consumer goods Industry followed with 160.334 million shares worth N1.547 billion in 2,167 deals while the conglomerates sector ranked third with a turnover of 79.55 million shares worth N122.75 million in 527 deals.

Trading in the top three equities – Zenith Bank International Plc, Guaranty Trust Bank Plc and United Capital Plc (measured by volume) accounted for 536.253 million shares worth N5.852 billion in 4,735 deals, contributing 34.55 per cent and 55.98 per cent to the total equity turnover volume and value respectively.

A total of 91,918 units of Federal Government bonds valued at N100.479 million were recorded in seven deals compared to a total of 12,470 units valued at N14.348 million recorded in eight  deals during the preceding week.

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