Financial services sector boost equity market
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.