GTCO, Zenith, Access Bank lift NGX turnover by N52 billion

HIGH transactions in the shares of three banks – Guaranty Trust Holding Company Plc, Zenith Bank Plc and Access Holdings Plc – lifted the volume of shares traded last week, as the turnover of 1.8 billion shares worth N52 billion was recorded.

The trading was executed in 38,550 deals by investors on the floor of the Nigerian Exchange Limited ( NGX), higher than a total of 1.7 billion shares valued at N48.7 billion that changed hands in 45,237 deals on March 22.

The market opened for four trading days as the federal government declared Friday as a public holiday to commemorate the Easter celebration.

Specifically, trading in the top three equities namely Guaranty Trust Holding Company, Zenith Bank and Access Holdings ( measured by volume) accounted for 589.9 million shares worth N23.3 billion in 8,166 deals, contributing 32.7 per cent to the total equity turnover.

On the activity chart, the financial services industry ( measured by volume) led t he activity chart with 1.3 billion shares valued at N32.9 billion traded in 20,897 deals, thus contributing 73.7 per cent to the total equity turnover volume.

The conglomerate industry followed with 106.7 million shares worth N1.5 billion in 2,368 deals. The third place was the consumer goods industry, with a turnover of 87.7 million shares worth N4.2 billion in 4,731 deals.

On the price movement chart, the bourse witnessed another subdued performance despite closing marginally higher in two of the four trading sessions last week.

The all- share index and market capitalisation depreciated by 0.08 per cent to close the week at 104,562.06 and N59.121 trillion, respectively.

All other indices finished higher except NGX main board, NGX 30, NGX consumer goods and NGX growth which depreciated by 0.28 per cent, 0.16 per cent, 0.97 per cent and 0.14. per cent, respectively, while the NGX oil and gas and NGX sovereign bond indices closed flat.