Equity dealers exchange 2.120bn shares worth N25.676bn in 31,806 deals

At the Nigerian Stock Exchange (NSE) last week, equity traders exchanged 2.120 billion shares worth N25.676 billion in 31,806 deals in contrast with a total of 2.292 billion shares valued at N24.025 billion that exchanged hands the preceding trading week in 29,048 deals.

Weekly report from the NSE showed that the Financial Services sector (measured by volume) accounted for 1.484 billion shares valued at N12.673 billion traded in 16,807 deals. The Consumer Goods sector followed with 158.061 million shares valued at N5.679 billion traded in 6,284 deals.

The Banking sub-sector of the Financial Services sector was the most active last week (measured by volume) with 1.105 billion shares worth N10.439 billion exchanged by investors in 11,839 deals.

Volume in the Banking sub-sector was largely driven by activity in the shares of Skye Bank plc, Zenith Bank plc, Access Bank plc, UBA plc and Fidelity Bank plc. Trading in the shares of the five banks accounted for 681.026 million shares, representing 61.65 percent, 45.89 percent and 32.13 percent of the sub-sector, sector’s turnover and total volume traded last week, respectively.

The Insurance Carriers, Brokers and Services sub-sector of the Financial Services sector, boosted by activity in the shares of Custodian and Allied Insurance plc followed on last week’s activity chart with a sub-sector turnover of 220.151 million shares valued at N298.891 million traded in 974 deals. In the course of last week, 44 units of NewGold Exchange Traded Funds (ETFs) valued at N93, 588 were executed in four deals compared with a total of 63 units valued at N136, 137 transacted the preceding week in three deals.

Also, 1,300 units of FGN bonds valued at N148,039 were traded during the week under review in 13 deals in contrast with 670 units valued at N79,630 transacted last week in seven deals.

The index movement showed that the NSE All-Share Index (ASI) appreciated by 1.20 percent to close last Friday at 37,350.53 points, while the market capitalisation of the listed equities on the mainboard of the NSE advanced by 1.20 percent to close at N11.939 trillion. All except one of the NSE sectoral indices also appreciated same as during the preceding week: NSE Consumer Goods, NSE Banking, NSE Oil/Gas, NSE-Lotus II, NSE Industrial Goods and NSE-ASeM Indices advanced by 2.51 percent, 3.20 percent, 1.45 percent, 5.09 percent, 1.76 percent, and 0.31 percent. Only the NSE Insurance Index depreciated by 2.83 percent.