Equity traders exchange 1.612bn shares worth N13.542bn in 23,021 deals

On the trading floor of the Nigerian Stock Exchange (NSE) last week, stockbrokers exchanged 1.612 billion shares worth of N13.542 billion in 23,021 deals in contrast to a total of 1.561 billion shares valued at N16.636 billion that exchanged hands the preceding week in 25,255 deals.

At the close of trading activities last week, the Financial Services sector accounted for 1.347 billion shares valued at N8.138 billion in 15,076 deals.

The Consumer Goods sector (measured by turnover volume) followed in the activity chart with 76.335 million shares valued at N3.518 billion traded in 3,337 deals.

The Banking subsector of the Financial Services sector was the most active last week (measured by turnover volume) with 945.036 million shares worth N6.661 billion exchanged by investors in 11,558 deals.

Volume in the Banking subsector was largely driven by activities in the shares of Unity Bank plc, Wema Bank plc, and Skye Bank plc.

Trading in the shares of the three banks accounted for 450.287 million shares, representing 47.65 percent of the turnover volume recorded by the subsector last week.

The NSE All-Share Index (ASI) appreciated by 29.37 points or 0.09 percent to close last week at 33,536.25 while the market capitalisation of the listed equities on the main-board increased by 0.11percent to close at N10.733 trillion. Also, the Bloomberg NSE 30 Index appreciated by 5.53 points or 0.35 percent to close at 1,602.88.

During the week in review, 234 units of NewGold Exchange Traded Funds (ETFs) valued at N575,812 were traded in 5 deals compared with a total of 192 units valued at N476.541 transacted last week in 4 deals.

Also, 3,500 units of FGN bonds valued at N4.009 million were traded last week in 11 deals in contrast to 700 units valued at N1.992 million exchanged the preceding week in 18 deals.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.