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Business > Capital Market
NSE reference index up 2.62% this week, as Ecobank, Unity Bank, UBA top active trading
By Nkechi Naeche
February 2, 2013 11:56:13am GMT
Nigerian Stock Exchange

WorldStage Newsonline-- Trading on the floor of the Nigeria Stock Exchange closed the week on a positive note as market turnover appreciated by 15.85 per cent to stand at N22.188 billion in contrast to a total of 2.612 billion shares valued at N19.152 billion that exchanged hands last week in 27,186 deals, while 2.813 billion shares worth N22.188 billion in 33,123 deals.

 NSE All-Share Index (ASI)appreciated by 828.37 points or 2.62per cent  to close on Friday at 32,411.86, while  market capitalization of the listed equities appreciated by 2.65per cent to close at N10.370 trillion.

All the NSE sectorial indices appreciated: Bloomberg NSE 30, Bloomberg NSE Consumer Goods, Bloomberg NSE Banking, Bloomberg NSE Insurance, Bloomberg NSE Oil/Gas and NSE Lotus II appreciated by 3.25%, 5.94%, 1.81%, 6.38%, 1.40% and 3.33% respectively.

The Financial Services sector was the most active during the week, contributing 79.64% to the total equity turnover volume with 2.240 billion shares valued at N14.761 billion exchanged hands by investors in 19,656 deals.

Similarly, the Banking subsector of the Financial Services sector was the most active during the week (measured by turnover volume); with 1.583 billion shares worth N12.581 billion traded in 13,629 deals. Volume in the banking subsector was largely driven by activities in the shares of Ecobank Transnational Incorporated Plc, Unity Bank Plc and UBA Plc. Trading in the shares of the three banks accounted for 844.849 million shares, representing 53.37%, 37.71% and 30.03% of the turnover recorded by the subsector, sector and total turnover for the week  respectively.

Also traded during the week were 234 units of NewGold Exchange Traded Funds (ETFs) valued at N595, 491 exchanged hands in 5 deals in contrast to a total of 196 units valued at N504,481 transacted last week in 4 deals.

In addition, 610 units of FGN bonds valued at N76,432 were traded during the week in 14 deals. However, there were no transactions in the State/Local Government Bonds and Corporate Bonds/Debentures sectors.

A review of the equity price movements indicated that fifty-five  equities gained while twenty- seven  equities recorded price declines and one hundred and fifteen  equities remained constant. When compared with the preceding week, forty-nine  equities gained while thirty-one equities recorded price declines and one hundred and seventeen equities remained constant.

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