Investors stake N18.1bn on 1.1bn shares for the week

A turnover of 1.082 billion shares worth N18.111 billion in 16,400 deals were traded this week by investors on the floor of the Nigerian Stock  Exchange (NSE) in contrast to a total of 1.698 billion shares valued at N57.895 billion that exchanged hands last week in 24,328 deals.

The market opened for four trading days this week as the Federal Government of Nigeria declared Wednesday 29th May 2019 as public holiday to mark the Inauguration Day celebrations 2019.

The NSE All-Share Index and Market Capitalization appreciated by 0.61 per cent to close the week at 31,069.37 and N13.685 trillion respectively.

Similarly, all other indices finished higher with the exception of the NSE MERI Value Index which depreciated by 0.14 per cent while the NSE ASeM Index closed flat.

Thirty-five (35) equities appreciated in price during the week, higher than thirty (30) in the previous week. Twenty-four (24) equities depreciated in price, lower than forty (40) equities of the previous week, while one hundred and nine (109) equities remained unchanged, higher than ninety-eight (98) equities recorded in the preceding week.

The Financial Services Industry (measured by volume) led the activity chart with 809.990 million shares valued at N8.495 billion traded in 8,969 deals; thus contributing 74.84 per cent and 46.91 per cent to the total equity turnover volume and value respectively.

The ICT Industry followed with 69.705 million shares worth N5.411 billion in 1,754deals. The third place was Healthcare Industry with a turnover of 45.971 million shares worth N14.262 million in 139 deals.

Trading in the top-three equities namely, United Bank for Africa Plc, Access Bank Plc and Zenith Bank Plc (measured by volume) accounted for 351.014 million shares worth N3.737 billion in 4,088 deals, contributing 32.43 per cent and 20.63 per cent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 290,130 units of Exchange Traded Products (ETPs) valued at N3.935 million executed in 16 deals compared with a total of 7,832 units valued at N48,890.00 transacted last week in 6 deals.

A total of 1,057 units of Federal Government Bonds valued at N1.060 million were traded this week in 7 deals compared with a total of 1,389 units valued at N1.440 million transacted last week in 14 deals.