By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) Friday recorded a 41.08 percent (41.08%) increase in turnover value of equities for the week ended January 10, 2014.
According to the NSE’s weekly stock market report, a turnover of 1.722 billion shares worth N22.443 billion in 29,600 deals were traded this week by investors on the floor of the Nigerian Bourse compared to a total of 2 billion shares valued at N15.907 billion that exchanged hands last week in 17,378 deals.
The report shows that the Financial Services Industry (measured by volume) led the activity chart with 1.199 billion shares valued at N10.851 billion traded in 15,134 deals; thus contributing 69.65% and 48.35% to the total equity turnover volume and value respectively.
This was followed by the Oil and Gas Industry with a turnover of 182.278 million shares worth N2.221 billion in 4,866 deals. The third place was occupied by the Conglomerates Industry with 124.131 million shares worth N665.139 million in 1,982 deals.
However, the NSE’s weekly stock market reported that trading in the top three (3) equities namely, FBN Holdings Plc, Transnational Corporation of Nigeria Plc and Unity Bank Plc (measured by volume) accounted for 407.945 million shares worth N3.229 billion in 5,007 deals, contributing 23.69% and 14.39% to the total equity turnover volume and value respectively.
In terms of index movement, the NSE All-Share Index (ASI) appreciated by 0.07% to close on the week at 41,480.62 and N13.275 trillion respectively. Similarly, Market Capitalisation appreciated by 0.07%.
In the same vein, the NSE Lotus Islamic Index and NSE Industrial Goods Index appreciated by 0.85% and 2.23% respectively. However, the NSE 30, NSE Consumer Goods, NSE Banking, NSE Insurance, and the NSE Oil/Gas Index depreciated during the week by 0.56%, 0.49%, 3.20%, 3.00% and 3.08% respectively while NSE-ASeM closed flat.
While a summary of price changes shows that 34 equities appreciated in prices during the week lower than 66 of the preceding week.
47 equities depreciated in prices higher than 18 of the past week, while 117 equities remained unchanged higher than 114 in the previous week.