By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)- The Financial Services sector boosted activities at the Nigerian Stock Exchange (NSE) to Close ahead of the Eid-el-Fitri Holidays after a three-day (3) trading week.
Reports from the NSE said measured by volume, the sector led the activity chart with a turnover of 856.026 million shares valued at N6.005 billion traded in 9,872 deals; contributing 78.04 percent (78.04%), 65.96%, 57.81% to the total equity turnover volume, value and number of deals respectively.
According to the NSE, the banking subsector boosted by the activities of the shares of United Bank for Africa Plc (UBA) and Sterling Bank Plc was most active subsector on the week’s activity chart with a subsector turnover of 621.389 million shares valued at N4.920 billion exchanged hands by investors in 6,620 deals.
Also, the Banking subsector accounted for 56.65% and 54.04% of the total subsector traded volume and value respectively.
The Banking subsector of the Financial Services sector, boosted by activity in the shares of UBA Plc and Sterling Bank Plc was the most active subsector on the week’s activity chart with a subsector turnover of 621.389 million shares valued at N4.920 billion exchanged hands by investors in 6,620 deals. Also, the Banking subsector accounted for 56.65% and 54.04% of the total subsector traded volume and value respectively.
The NSE report affirmed that a turnover of 1.097 billion shares worth of N9.104 billion in 17, 076 deals were traded this week by investors on its bourse compared to a total of 1.364 billion shares valued at N16.168 billion that exchanged hands last week in 28,322 deals.
On index movement, the NSE All-Share Index dropped 1.00% to close Wednesday at 38,038.79, while the market capitalisation of the listed equities on the main board also depreciated by 1.00 % to close at N12.047 trillion.
Also, the NSE 30 Index depreciated by 1.09% to close at 1,785.90; while all the indices depreciated during the brief trading week, the NSE Consumer Goods, NSE Banking, NSE Insurance, NSE Oil/Gas, NSE-Lotus II, NSE Industrial Goods and NSE-ASeM by 0.93%, 0.32%, 0.89%, 1.01%, 1.66%, 3.64% and 0.35% respectively.
A summary of price changes shows that 35 equities appreciated in prices during the week lower than 50 equities of the preceding week. 51 equities depreciated in prices higher than 33 of the preceding week, while 108 equities remained constant lower than 111 of the preceding week.