WorldStage Newsonline-- Despite only four days of trading with Tuesday May 1 observed as Workers' Day holiday, Nigerian Stock Exchange pulled a 24.47 per cent growth in turnover as against the previous week with 2.449 billion shares worth N20.742 billion in 16,960 deals recorded, in contrast to a total of 1.916 shares valued at N16.664 billion exchanged last week in 23,143 deals.

According to the data released by the NSE, the Financial Services sector accounted for 2.023 billion shares valued at N14.707 billion traded in 9,643 deals. The Services Sector followed with 147.295 million shares valued at N136.912 million traded in 806 deals.

The Banking subsector of the Financial Services sector was the most active during the week (measured by turnover volume) with 1.858 billion shares worth N14.610 billion exchanged by investors in 9,148 deals. The volume in the sector was driven by First City Monument Bank Plc, Diamond Bank Plc and Zenith Bank Plc. Trading in the shares of the three banks accounted for 903.467 million shares, representing 44.65 per cent, 48.63 per cent and 36.89 per cent of the turnover recorded by the subsector, sector and total turnover for the week, respectively.

The Insurance Carriers, Brokers and Services boosted by activity in the shares of Mutual Benefits Assurance Plc followed on the week’s activity chart with a subsector turnover of 71.985 million shares valued at N35.992 million traded in 9 deals.

Last week, the Banking subsector led on the activity chart and was followed by the Insurance Carriers, brokers and services subsector.

Also traded during the week were 296 units of NewGold Exchange Traded Products (ETFs) valued at N747, 112.00 exchanged in 4 deals. There were no transactions executed through the stock market in the Federal Government Development Stocks, State and Local Government Bonds and Corporate Bonds/Debentures Stocks sectors.

On price movement, the NSE All-Share Index appreciated by 556.55 points or 2.52% to close on Friday at 22,665.99 while the equities Market Capitalization appreciated from N7.051 trillion to N7.228 trillion.

Similarly, all of the NSE sectorial indices appreciated during the week compared to the preceding week. The NSE-30 Index appreciated by 33.23 points or 3.29 per cent to close at 1,041.75. The NSE Consumer Goods Index appreciated by 43.53 points or 2.43 per cent to close at 1,831.25. The NSE Banking Index appreciated by 25.43 points or 7.95 per cent to close at 345.16. However, the NSE Insurance Index depreciated by 1.77 points or 1.42 per cent to close at 126.71 followed by The NSE Oil/Gas Index by 1.79 points or 0.93 per cent to close at 194.32. Please note that the points and percentage changes in the NSE Indices were calculated by computing the daily changes in the index values.

Twelve stocks depreciated in prices lower than the 26 of the preceding week. Dangote Sugar Refinery Plc led on the price losers’ table, dropping by -10.44 per cent to close 3.26 per share while May and Baker Nigeria Plc followed with a loss of N0.27 or – 13.57 per cent to close at N1.72 per share.