Investors stake N6.4bn as Index drops by 1.8%

Aturnover of 934.905 million shares worth N6.357 billion in 12,352 deals were traded last week by investors on the floor of the Nigerian Stock Exchange (NSE) in contrast to a total of 1.287 billion shares valued at N9.303 billion that exchanged hands penultimate week in 15,258 deals.

The market opened for four trading sessions as the Federal Government of Nigeria declared Monday 3rd of October, 2016 as Public Holiday in commemoration of the Independence day Celebration.

The Financial Services Industry (measured by volume) led the activity chart with 817.195 million shares valued at N4.081 billion traded in 7,268 deals; thus contributing 87.41% and 64.19% to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 46.366 million shares worth N86.730 million in 514 deals. The third place was occupied by the Oil and Gas Industry with a turnover of 21.539 million shares worth N465.820 million in 1,310 deals.

Trading in the top-three equities namely - Access Bank Plc, Diamond Bank Plc and FCMB Group Plc (measured by volume) accounted for 364.682 million shares worth N1.074 billion in 1,359 deals, contributing 39.01 per cent and 16.90 per cent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 184 units of Exchange Traded Products (ETPs) valued at N2,077.37 executed in 16 deals, compared with a total of 4.761 million units valued at N25.821 million transacted last week in 45 deals.

A total of 580 units of Federal Government Bonds valued at N576,723.03 were traded in 2 deals compared to a total of 2,023 units of Federal Government Bonds valued at N1.925 million transacted last week in 4 deals.