Shares of Access, FBN, Zenith contribute 43% to total equities turnover
TRANSACTIONS in the shares of Access Bank Plc, FBN Holdings and Zenith Bank Plc accounted for 609.988 million shares worth N6.593 billion in 4,870 deals at the end of last week’s trading on the Nigerian Exchange Limited ( NGX).
The three financial stocks contributed 43 per cent to the total equities turnover of 1.419 billion shares worth N15.918 billion.
Following the financial sector in volume terms last week, was the industrial goods industry with 60.762 million shares worth N2.005 billion in 1,070 deals.
The consumer goods industry ranked third with a turnover of 57.023 million shares worth N1.029 billion in 2,831 deals.
Further breakdown of last week's trading showed that bearish sentiments dominated the local bourse last week, as a result of profit- taking in bellwether stocks. Save for the last trading day of the week, the local bourse recorded losses in all of the week's three trading sessions.
Accordingly, the NSE allshare index ( ASI) and market capitalisation depreciated by 1.6 per cent and 1.99 per cent to close the week at 39,198.75 and
N20.431 trillion.
Similarly, all other indices finished lower except NSE Banking, NSE Pension, NSEAFR Div Yield, NSE MERI Value, NSE Consumer Goods and NSE Oil/ Gas Indices which appreciated by 0.62 per cent, 0.35 per cent, 1.12 per cent, 1.66 per cent, 0.62 per cent and 5.98 per cent respectively, while the NSE ASEM Index closed flat.
A review of last week's market performance showed that NGX resumed May trading with N17b losses, amid a sell- off in most highly capitalised stocks.
At the reopening of trading on Tuesday, the ASI declined by 32.64 absolute points, representing a loss of 0.08 per cent to close at 39,801.78 points while market capitalisation lost N17 billion to close at N20.830 trillion.
Lasaco Assurance emerged the day’s highest price gainer with 9.86 per cent to close at N1.56 kobo.
Neimeth International Pharmaceuticals followed with a gain of 9.83 per cent to close at N1.90 kobo while International Breweries rose by 9.62 per cent to close at N5.70 kobo.
Courteville Business Solutions rose by 8.70 per cent to close at 25 kobo, while Royal Exchange appreciated by 7.55 per cent to close at 57 kobo.
However, Linkage Assurance led the losers’ chart with 13.11 per cent to close at 53 kobo.
Regency Alliance Insurance trailed with a decline of 9.09 per cent to close at 30 kobo . Consolidated Hallmark Insurance shed 7.69 per cent to close at 36 kobo. The total volume traded increased by 30 per cent to 426.508 million units, valued at N4.654 billion and exchanged in 5,616 deals. Transactions in the shares of FBN Holdings ( FBNH) topped the activity chart with 79.603 million shares valued at N574.979 million. Access Bank followed with 64.847 million shares worth N479.038 million, while Zenith Bank traded 58.004 million shares valued at N1.282 billion.
Lafarge Africa traded 28.674 million shares valued at N627.916 million, while FCMB Group transacted 25.725 million shares worth N74.689 million.