By Dipo Olowookere

Last week, investors at the nation’s stock market traded 1.2 billion shares worth N14.1 billion in 17,980 deals, slightly lower than the 1.1 billion equities valued at N17.1 billion transacted 15,431 deals.

But of this total traded volume, stocks in the financial services industry led the activity chart with 840.7 million units valued at N10.8 billion executed in 11,331 deals.

With this, the sector contributed 73.30 percent and 76.45 percent to the total equity turnover volume and value respectively.

Following were the conglomerates sector with 111.2 million shares worth N243.1 million in 963 deals and the ICT industry with a turnover of 95.1 million shares worth N605.1 million in 404 deals.

According to data from the Nigerian Stock Exchange (NSE), trading in Guaranty Trust Bank (GTBank) Plc, Access Bank Plc and FBN Holdings Plc accounted for 484.0 million equities worth N8.3 billion in 4,265 deals, contributing 42.20 percent and 58.99 percent to the total equity turnover volume and value respectively.

A total of 39 equities appreciated in price during the week, higher than 27 shares in the previous week, while 19 stocks depreciated in price, lower than 34 equities in the previous week, with 108 shares remaining unchanged, higher 105 equities recorded in the preceding week.

In the week, the All-Share Index (ASI) and market capitalization appreciated by 2.33 percent and 2.39 percent to close at 27,779 points and N13.523 trillion respectively.

Similarly, all other indices finished higher with the exception of NSE Insurance and NSE Industrial Goods Indices, which depreciated by 2.13 percent and 0.41 percent, while the NSE ASeM index closed flat.

https://businesspost.ng/2019/09/15/financial-stocks-lead-nse-weekly-transactions-with-n10-8bn/