NSE’s turnover up 2.37% this week, as Zenith Bank, First Bank boost trading activities
WorldStage Newsonline-- The Nigerian Stock Exchange sustained its rally through the week, ending the month on a positive note with a turnover of 1.461 billion shares worth N10.142 billion in 20,322 deals as against 878.53 million shares valued at N9.907 billion that exchanged hands last week in 11,633 deals.
Also traded were 3,997 units of NewGold Exchange Traded Funds (ETFs) valued at N10.164 million exchanged hands in 17 deals in contrast to a total of 1,200 units valued at N3.05 million transacted last week in 9 deals.
There was no transaction in the Federal Government Development Stocks, State/Local Government Bonds, and Corporate Bonds/Debentures sectors.
The Financial Services sector was the most active during the week (measured by turnover volume), with 1.10 billion shares worth of N6.89 billion exchanged hands by investors in 12,030 deals.
Volume in the sector was largely driven by Banking subsectors led by shares of Zenith Bank Plc and First Bank of Nigeria Plc. Trading in the shares of the two banks accounted for 266.997 million shares, representing 35.07%, 24.26% and 18.28% of the turnover recorded by the subsector, sector and grand total for the week, respectively.
The NSE All-Share Index (ASI) opened at 23,399.58 appreciating by 1.50 per cent to close on Friday at 23,750.82. Similarly, the equities Market Capitalization which opened at N7.45trillion also appreciated by 1.50% to close at N7.56trillion.
All but one of the six sectorial indices appreciated. The Bloomberg NSE 30 Index rose by 1.65% to close at 1,113.67. The Bloomberg NSE Consumer Goods Index rose by 2.25 per cent to close at 2,022.83.The Bloomberg NSE Banking Index rose by 1.75 per cent to close at 368.60, while Bloomberg NSE Insurance Index appreciated by 1.52 per cent to close at 124.08. Also NSE-Lotus II rose by 1.67 per cent to close at 1,399.21. However, Bloomberg NSE Oil/Gas Index depreciated by -0.63 per cent to close at 164.05.
Forty three equities appreciated in prices during the week, higher than 30 of the preceding week. Nestle Nigeria Plc led on the gainers’ table by 4.75 per cent to gain N24.94 followed by Guinness Nigeria Plc by 1.41 per cent to gain N3.50.
Twenty-six stocks depreciated in prices lower than 34 of the preceding week. PZ Cussons Nigeria Plc led on the price losers’ table, dropping by -4.67% to shed N1.12 followed by Conoil Plc with a loss of N1.03 or -4.96 per cent.