The Financial services sector recorded the highest trading volume for the week ended Friday, November 2, to sustain its dominance of the activity chart of the Nigerian Stock Exchange.
With a traded volume of 1.081bn shares valued at N7.894bn traded in 13,880 deals, the sector accounted for 71.47 per cent, 60.96 per cent and 60.25 per cent of the volume, value and number deals executed on the stock market, respectively during the week under review.
The stock market had recorded a turnover of 1.512bn shares, valued at N12.950bn traded in 23,039 deals for week, as against the 794.043m shares valued at N8.515bn that were traded last week in 14,048 deals.
Mansard Insurance Plc of the Insurance Carriers, Brokers and Services subsector was the most active with a volume of 129.306 million units. It was followed by Ecobank Transnational Incorporated Plc and Diamond Bank Plc. The top three equities from the financial services sector had a total volume of 346.01 million units of shares and contributed 32.02 per cent and 22.88 per cent, respectively to the sector and total turnover for the week.
The figures, along with that of the conglomerates sector, which followed with a volume of 108.535m shares valued at N208.952m in 794 deals, where, however, insufficient to help the capital market indicators to appreciate as all the sectoral indices as well as both the NSE All-Share Index and market capitalisation depreciated.
The index, which opened the week at 26,876.07 fell by 316.52 basis points or -1.18 per cent to close at 26,559.55, while the Market Capitalisation of the listed equities decreased by N100.865bn (1.18 per cent) to close at N8.464tn after opening at N8.477tn.
For the sectoral indices, the Bloomberg NSE 30 fell by 1.41 per cent (+.35.50 per cent year-to-date), the Bloomberg NSE Consumer Goods suffered a dip of 3.15 per cent (+284.73 per cent YTD), while the Bloomberg NSE Banking decreased by 0.42 per cent (+55.13 per cent YTD). The Bloomberg NSE Insurance Index, Bloomberg NSE Oil/Gas Index and NSE Lotus II Indices depreciated by 0.94 per cent (-6.63 per cent YTD), 0.42 per cent (-29.14 per cent YTD) and 1.80 per cent (+35.64 per cent YTD), respectively.
For the week under review, 21 equities appreciated while 52 depreciated with the prices of 125 equities remaining constant, compared to the 22 equities that gained, the 39 suffered losses and the 138 that remained constant the previous week.
Also, 7,700 units of NewGold Exchange Traded Funds valued at N20.007m were traded in five deals as against a total of 600 units valued at N1.573m transacted last week in four deals. The Federal Government Development Stocks, State/Local Government Bonds, and Corporate Bonds/Debentures sectors did not record any transaction.
Source: Punch (written by Simon Ejembi)
