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Stock Watch:
Business > Capital Market
NSE weekly turnover drops 26%, as Zenith Bank, First Bank boost trading
By Nkechi Naeche
August 11, 2012 12:53:06pm GMT | Views: 16
Nigerian Stock Exchange

WorldStage Newsonline-- Trading activities on the floor of the Nigerian Stock Exchange (NSE) for the week ended Friday witnessed a 26 per cent in turnover at  1.318 billion shares worth N9.136 billion in 19,200 deals, in contrast to a total of 1.471 billion shares valued at N12.350 billion exchanged hands last week in 19,228 deals.

Trading activities was largely driven by volume of shares of Banking subsectors led by shares of Zenith Bank Plc and First Bank of Nigeria Plc. Trading in the shares of the two banks accounted for 270.345 million shares, representing 35.26 per cent , 24.29per cent  and 20.51 per cent of the turnover recorded by the subsector, sector and total turnover for the week, respectively.

NSE All-Share Index (ASI) depreciated by 1.21 per cent to close on Friday at 23,239.03.

Similarly, the equities Market Capitalization opened at N7.49 trillion depreciating 0.21 per cent to close at N7.40 trillion.

The Financial Services sector was the most active during the week (measured by turnover volume), with 1.113 billion shares worth of N7.055 billion exchanged hands by investors in 11,381 deals.

Also traded during the week were 10,000 units of Crusader Nigeria Unsecured Convertible bond (Corporate Bonds/Debentures) valued at N946, 410.00 were traded in one deal. There were no transactions in the Federal Government Development Stocks, State/Local Government Bonds sectors.

In addition, 1,707 units of NewGold Exchange Traded Funds (ETFs) valued at N4.293 million exchanged in 9 deals in contrast to a total of 3,050 units valued at N7.63 million exchanged hands last week in 9 deals.

Two of the six sectorial indices appreciated – The Bloomberg NSE Banking index rose by 0.08% to close at 354.80, while Bloomberg NSE Insurance Index rose by 0.39% to close at 124.69. However, Bloomberg NSE 30 Index depreciated by -1.24% to close at 1,084.57, Bloomberg NSE Consumer Goods Index depreciated by -1.73% to close at 1,945.53, Bloomberg NSE Oil/Gas Index depreciated by -2.54% to close at 168.76 while NSE-Lotus II depreciated by -1.41% to close at 1,353.62.

Thirty one equities appreciated in prices during the week, lower than 32 of the preceding week. Eterna Plc led on the gainers’ table by 26.42% to gain N0.56 followed by Glaxo Smithkline Consumer Plc by 1.93 per cent to gain N0.55

While thirty six stocks depreciated in prices lower than 37 of the preceding week. Total Nigeria Plc led on the price losers’ table, dropping by -3.75 per cent to shed N4.99 followed by Dangote Cement Plc with a loss of N3.50 or -2.95 per cent

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