Financial Services industry dominates trading at Nigerian bourse

The Financial Services industry led the activity chart on the floor of the Nigerian Stock Exchange (NSE) this week with…

The Financial Services industry led the activity chart on the floor of the Nigerian Stock Exchange (NSE) this week with 3.073 billion shares valued at N35.408 billion traded in 25,894 deals.The weekly report of transactions released on Friday in Lagos by the NSE showed that       the Conglomerates Industry followed with 437.822 million shares worth N771.280 million in 1,864 deals, while the third place was the Consumer Goods Industry, with a turnover of 373.613 million shares worth N7.816 billion in 7,471 deals.

The NSE said that the week was a historic trading week as the NSE All Share Index (ASI) posted its largest daily gain in more than five years on Thursday, 12 November 2020. The ASI rose beyond the set threshold of 5% triggering a 30 minute trading halt of all stocks for the first time since the Circuit Breaker was introduced in 2016.

The Circuit Breaker protocol was triggered at 12:55p.m., when the NSE ASI increased from 33,268.36 to 34,959.39. The market reopened at exactly 1:25p.m., with a 10 minute intra-day auction session before resuming continuous trading till the close of the day at 2:30p.m.

The NSE added that a total turnover of 4.509 billion shares worth N58.733 billion in 47,140 deals were traded this week by investors in contrast to a total of 2.067 billion shares valued at N22.636 billion that exchanged hands last week in 25,187 deals.

According to the report, trading in the top three equities namely Zenith Bank Plc, FBN Holding Plc and Transcorp Hotels Plc accounted for 1.426 billion shares worth N18.083 billion in 9,537 deals, contributing 31.63% and 30.79% to the total equity turnover volume and value respectively.

A total of 986,941 units valued at N4.685 billion were traded this week in 62 deals compared with a total of 238,441 units valued at N2.054 billion transacted last week in 8 deals.

On the Bonds section, a total of 13,332 units valued at N17.142 million were traded this week in 19 deals compared with a total of 6,011 units valued at N7.543 million transacted last week in 14 deals.

The NSE All-Share Index and Market Capitalization both appreciated by 12.97% to close the week at 35,037.46 and N18.308 trillion respectively.

Similarly, all other indices finished higher while the NSE ASeM Index closed flat. ($1=N380)

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