Fi­nan­cial ser­vices sec­tor boost eq­uity mar­ket

Daily Trust - - BUSINESS -

Fi­nan­cial ser­vices sec­tor of the Nige­rian Stock Ex­change (NSE) has been in front line of ac­tiv­i­ties for the past few months.

At the end of trad­ing ac­tiv­i­ties on the bourse, last week, the NSE’s weekly mar­ket re­port af­firmed that the fi­nan­cial ser­vices in­dus­try (mea­sured by vol­ume) led the ac­tiv­ity chart with 1.375 bil­lion shares val­ued at N14.241 bil­lion traded in 12,596 deals; thus, con­tribut­ing 83.73 per cent and 61.48 per cent to the to­tal eq­uity turnover vol­ume and value re­spec­tively.

The NSE re­port showed that a turnover of 1.642 bil­lion shares, worth N23.163 bil­lion in 21,620 deals, were traded this week by in­vestors com­pared to a to­tal of 1.937 bil­lion shares val­ued at N21.264 bil­lion that ex­changed hands last week in 21,641 deals.

While the con­glom­er­ates in­dus­try fol­lowed with a turnover of 108.548 mil­lion shares worth N597.556 mil­lion in 1,346 deals. The third place was oc­cu­pied by the con­sumer goods in­dus­try with 60.379 mil­lion shares, worth N5.526 bil­lion in 3,407 deals.

In terms of sum­mary of price changes at the Nige­rian bourse for the week, 33 eq­ui­ties ap­pre­ci­ated in prices dur­ing the week, higher than 32 of the pre­ced­ing week.

While 36 eq­ui­ties de­pre­ci­ated in prices lower than 41 the pre­vi­ous week, 129 eq­ui­ties re­mained un­changed, higher than 125 of the pre­ced­ing week.

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