The Guardian (Nigeria)

GTCO, UBA, Zenith contribute N25% to NGX turnover

- By Helen Oji

THE financial service industry ( measured by volume) closed higher at the end of last week's transactio­ns on the Nigerian Exchange Limited ( NGX).

It led the activity chart with 732.418 million shares valued at N7.213 billion traded in 9,131 deals, thus contributi­ng 72.62 per cent to the total equity turnover.

Following the financial sector last week were the conglomera­tes with 52.931 million shares worth N170.271 million in 656 deals.

The ICT industry ranked third with a turnover of 52.716 million shares worth N1.806 billion in 701 deals.

Trading in the top three equities namely Guaranty Trust Holding Company ( GTCO) Plc, United Bank for Africa ( UBA) Plc and Zenith Bank Plc ( measured by volume) accounted for 261.741 million shares worth N5.813 billion in 3,498 deals, contributi­ng 25.95 per cent to the total equity turnover.

Consequent­ly, a turnover of 1.008 billion shares worth N10.923 billion was recorded in 17,297 deals by investors on the floor of the exchange, in contrast to a total of 1.348 billion units valued at N12.14 billion that changed hands in 21,581 deals during the preceding week.

With the bourse recording the second consecutiv­e week of bearish sentiments, the allshare index ( ASI) and market capitalisa­tion depreciate­d by 0.12 per cent to close the week at 37,947.18 and N19.771 trillion respective­ly.

All other indices finished lower except NGX Banking, NGX AFR Div Yield, NGX MERI Growth, NGX Oil/ Gas and NGX Sovereign Bond indices which appreciate­d by 0.09 per cent, 0.32 per cent, 0.15 per cent, 1.81 per cent and 0.64 per cent respective­ly, while the NGX Premium, NGX ASEM and NGX Growth indices closed flat.

The Chief Executive Officer of Investdata Consulting, Ambrose Omordion said: "Selloff and profit booking persisted ahead of inflation data and monetary policy meeting outcome as consumer price index had recently slid for two consecutiv­e months in the face of a weak economic recovery.

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