Nigeria: Financial Stocks Contribute 76.8% to NSE Volume

Nov 07, 2017 | The Guardian; All Africa

The financial services industry dominated in volume terms at the end of transactions on the equity sector of the Nigerian Stock Exchange (NSE) last week.

It led the activity chart with 1.046 billion shares valued at N9.032billion traded in 12,847 deals; thus contributing 76.79 per cent to the total equity turnover volume. Following the financial sector last week was the consumer goods industry with 119.907 million shares worth N5.109billion in 4,827 deals. The healthcare industry ranked third with a turnover of 70.587 million shares worth N77.530million in 349 deals. Trading in top three equities namely - FBN Holdings Plc, Diamond Bank Plc, and United Bank for Africa Plc accounted for 497.016 million shares worth N2.947billion in 4,205 deals, contributing 36.48 per cent to the total equity turnover volume and value respectively. Consequently, a total turnover of 1.363 billion shares worth N17.714billion were traded in 21,891 deals by investors on the floor of the Exchange, higher than to 1.394 billion shares valued at N16.403billion that changed hands in 19,195 deals last week. Also, traded during the week were a total of 1,156,439 units of Exchange Traded Products (ETPs) valued at N6.404million executed in 13 deals compared with 104,544 units valued at N11.506million transacted last week in seven deals. Read more on All Africa. Source: All Africa