Nigeria: Banking, conglomerates boost stock market turnover by 85.8%

*Nigerian Stock Exchange.

*Nigerian Stock Exchange.

12 September 2016, Lagos — The Banking and Conglomerates sub-sectors on the Nigerian Stock Exchange, NSE, last week boosted the stock market turnover by 85.83 per cent. Specifically, a turnover of 1.183 billion shares worth N10.300 billion in 16,522 deals were traded last week by investors on the floor of the exchange in contrast to a total of 1.115 billion shares valued at N13.817 billion that exchanged hands the penultimate week in 16,083 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.015 billion shares valued at N7.136 billion traded in 11,012 deals; thus contributing 85.83 per cent and 69.28 per cent to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 69.777 million shares worth N473.308 million in 564 deals. The third place was occupied by the Services Industry with a turnover of 42.223 million shares worth N75.881 million in 202 deals.

Trading in the top three equities namely – United Bank for Africa Plc, Guaranty Trust Bank Plc and FBN Holdings Plc (measured by volume) accounted for 444.004 million shares worth N4.958 billion in 4,153 deals, contributing 37.53 percent and 48.13 percent to the total equity turnover volume and value respectively.

Also traded during the week under review were a total of 943 units of Exchange Traded Products (ETPs) valued at N1.357 million executed in 28 deals, compared with a total of 29,242 units valued at N283,495.57 transacted last week in 42 deals A total of 9,140 units of Federal Government Bonds valued at N9.198 million were traded in 6 deals compared to a total of 4,470 units of Federal Government Bonds valued at N4.313 million transacted last week in 8 deals.

The NSE All-Share Index and market capitalization depreciated by 0.65 percent to close the week at 27,577.52 and N9.473 trillion respectively. Similarly, all other Indices finished lower during the week under review with the exception of the NSE Main Board Index, NSE Insurance Index, NSE Consumer Goods Index and the NSE Pension Index that appreciated by 0.01 percent, 0.12 percent, 0.50 percent, and 0.26 percent respectively while the NSE ASeM Index closed flat. Twenty-four (24) equities appreciated in price during the week under review, lower than twenty- eight (28) equities of the penultimate week.

Thirty-eight (38) equities depreciated in price, higher than thirty-one (31) equities of the penultimate week, while one hundred and eighteen (118) equities remained unchanged lower than one hundred twenty- twenty-one (121) equities recorded in the penultimate week.

*Peter Egwuatu – Vanguard

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