Heavy transactions in the shares of some banks, especially Access Bank and Guaranty Trust Bank (GTB), last week, buoyed the volume of shares traded, as a turnover of 2.064 billion shares worth N23.397 billion was recorded.
The trading was executed 14,992 deals by investors on the floor of the Nigeria Stock Exchange Exchange (NSE) in contrast to a total of 1.949 billion shares valued at N17.336 billion, which changed hands in 15,762 deals during the preceding week.
Specifically, the financial services Industry (measured by volume) led the activity chart with 1.484 billion shares valued at N14.555 billion in 8,406
deals; thus contributing 71.90 per cent and 62.21 per cent to the total equity turnover volume and value respectively.
The Oil and Gas Industry followed with 324.106 million shares worth N1.839 billion in 1,680 deals.
The third place was occupied by the conglomerates sector, with a turnover of 97.566 million shares worth N225.662 million in 938 deals.
Trading in the top three equities– Access Bank, GTB and Beco Petroleum Plc (measured by volume), accounted for 1.034 billion shares worth N10.907 billion in 1,954 deals, contributing 50.11 per cent and 46.62 per cent to the total equity turnover volume and value respectively.
Also traded during the week were a total of 4,044 units of Exchange Traded Products (ETPs) valued at N281,820.83 executed in 40 deals compared with a total of 7,291 units valued at N437,490.20 transacted last week in 35 deals.
A total of 3,026 units of FGN Bonds valued at N3,814 million were traded in four deals this week.courtesy:theguardian.