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Financial services industry leads equity turnover growth

According to weekly summary of the NSE, the sector led the activity chart with 1.062 billion shares valued at N11.053 billion traded in 13,693 deals;…

According to weekly summary of the NSE, the sector led the activity chart with 1.062 billion shares valued at N11.053 billion traded in 13,693 deals; thus contributing 69.83 per cent and 61.37 per cent to the total equity turnover volume and value respectively.
During the week, a turnover of 1.521 billion shares worth N18.011 billion in 26,028 deals were traded by investors on the floor of the Exchange in contrast to a total of 895.210 million shares valued at N11.659 billion that exchanged hands previous week in 14,989 deals.
The conglomerates industry followed with a turnover of 253.418 million shares worth N656.405 million in 1,399 deals, while the oil and gas industry came third with 74.297 million shares worth N956.055 million in 3,218 deals.
Trading in the top three equities, Transnational Corporation of Nigeria Plc, Guaranty Trust Bank Plc, and United Bank for Africa Plc (measured by volume) accounted for 561,164 million shares worth N6.210 billion in 4,291 deals, contributing 36.90 per cent and 34.48 per cent to the total equity turnover volume and value respectively.
Also traded during the week were a total of 105 units of NewGold Exchange Traded Funds (ETFs) valued at N214,200 executed in 1 deal compared with a total of 365 units valued at N738,965 transacted last week in 4 deals.
There were no transactions in debt instruments during the week. Last week, 210 units of FGN bonds valued at N249, 371.96 were traded in 3 deals.
The NSE All-Share Index gained by 0.32 per cent to close on Friday at 37,461.94. Similarly, the market capitalization appreciated by 0.61 per cent to close at N11.969 trillion.
The NSE Oil/Gas, NSE Lotus II and NSE Industrial Goods appreciated by 8.24 per cent, 0.73 per cent and 1.25 per cent respectively. While NSE 30, NSE Consumer Goods, NSE Banking and NSE Insurance Indices depreciated by 0.19 per cent, 0.67 per cent, 0.98 per cent and 0.90 per cent respectively. However the NSE-ASeM closed flat.
Summary of price changes during the week indicates that 30 equities appreciated in prices lower than 43 equities of the preceding week. Forty nine equities depreciated in prices higher than 29 equities of the preceding week, while 118 equities remained unchanged lower than 125 equities of the preceding week.

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