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Financial Services Industry dominates trading at Nigerian bourse

The Financial Services Industry led the activity chart this week on the Nigerian Stock Exchange (NSE) with 1.139 billion shares valued at N6.028 billion traded in 7,518 deals.The weekly report of transactions released on Friday in Lagos by the NSE showed that the Consumer Goods Industry followed with 71.209 million shares worth N2.306 billion in 2,261 deals, while the third place was occupied by Services Industry with a turnover of 29.390 million shares worth N24.594 million in 258 deals.

It added that a total turnover of 1.309 billion shares worth N10.323 billion were traded in 13,042 deals this week by investors on the floor of the Exchange in contrast to a total of 1.029 billion shares valued at N7.980 billion that exchanged hands last week in 13,441 deals.

Trading in the Top Three Equities namely – Continental Reinsurance Plc, Custodian And Allied Insurance Plc and FBN Holdings Plc accounted for 565.746 million shares worth N1.450 billion in 914 deals, contributing 43.22% and 14.04% to the total equity turnover volume and value respectively.

The NSE All-Share Index and Market Capitalization depreciated by 0.77% and 0.80% respectively to close the week at 25,454.93 and N8.807 trillion respectively.

Similarly, all other Indices finished lower during the week with the exception of the NSE Lotus and NSE Industrial Goods Indices that appreciated by 0.35% and 5.14% while the ASEM Index closed flat. ($1=N305)

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