By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) All-Share Index (ASI) inched up by 3.44 percent (3.44%) to close at 38,424.34 for the period August 02, 2013.

According to the NSE’s weekly market report, the NSE 30 Index appreciated by 3.64% to close at 1,805.63, while the NSE Consumer Goods, NSE Banking, NSE Insurance, NSE Oil/Gas, NSE-Lotus II and NSE Industrial Goods appreciated by 3.89%, 4.60%, 0.42%, 0.75%, 3.54% and 5.09% respectively, while NSE-ASeM remained unchanged.

Also, a turnover of 1.364 billion shares worth of N16.168 billion in 28,322 deals were traded this week by investors on the floor of The Exchange compared to a total of 2.500 billion shares valued at N17.035 billion that exchanged hands last week in 28,638 deals.

The NSE reported that the Financial Services sector (measured by volume) led the activity chart with a turnover of 990.484 million shares valued at N7.916 billion traded in 15,243 deals; contributing 72.61%, 48.96%, 53.82% to the total equity turnover volume, value and number of deals respectively.

While the Banking subsector of the Financial Services sector, boosted by activity in the shares of Sterling Bank Plc and UBA Plc was the most active subsector on the week’s activity chart with a subsector turnover of 638.021 million shares valued at N6.093 billion which exchanged hands by investors in 10,059 deals. Also, the Banking subsector accounted for 46.77% and 37.69% of the total subsector traded volume and value respectively.

On summary of price changes, 50 equities appreciated in prices during the week higher than 28 equities of the preceding week. 33 depreciated in prices lower than 60 equities of the preceding week, while 111 equities remained constant higher than 106 equities of the preceding week.

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