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Stock Watch:
Business > Capital Market
First Bank, Zenith Bank, Diamond Bank boost weekly turnover, as NSE turnover dips 20.3%
By Nkechi Naeche
August 18, 2012 16:34:29pm GMT | Views: 5
Nigerian Stock Exchange

WorldStage Newsonline-- Trading activities this week wes largely driven by the banking subsector, led by shares of First Bank of Nigeria Plc, Diamond Bank Plc and Zenith Bank Plc.

Trading on the shares of the three banks accounted for 252.67 million shares, representing 41.13per cent , 35.9per cent and 27.09per cent of the turnover recorded by the subsector, sector and total turnover for the week, respectively.

On the price movement, the NSE All-Share Index (ASI) opened at 23,239.03, a 0.42 per cent drop to close on Friday at 23,141.08, while the equities market capitalization opened at N7.40 trillion depreciating 0.42 per cent to close at N7.37 trillion.

Also, a turnover of 932.58 million shares worth N7.277 billion in 17,711 deals was recorded this week, as against a total of 1.318 billion shares valued at N9.136 billion that exchanged hands last week in 19,200 deals, a drop of 20.3 per cent.

There were no transactions in the Federal Government Development Stocks, State/Local Government Bonds, and Corporate Bonds/Debentures sectors.

Also traded were 5,877 units of NewGold Exchange Traded Funds (ETFs) valued at N14.36 million exchanged in 12 deals in contrast to a total of 1,707 units valued at N4.293 million exchanged hands last week in 9 deals.

The Financial Services sector was the most active during the week (measured by turnover volume), with 703.84 million shares worth of N4.92 billion exchanged hands by investors in 10,282 deals.

The Bloomberg NSE 30 Index remained flat at 0.00per cent to close at 1,084.61. While, two of the five sectorial indices appreciated – The Bloomberg NSE Consumer Goods Index rose by 1.01per cent to close at 1,965.10, while the Bloomberg NSE Banking Index rose by 1.50per cent to close at 360.13.

However, Bloomberg NSE Insurance Index depreciated by 0.20per cent to close at 124.44, Bloomberg NSE Oil/Gas Index depreciated by 1.81per cent to close at 165.70, while NSE-Lotus II depreciated by 0.76 per cent to close at 1,343.27.

Thirty three equities appreciated in prices during the week, higher than 31 of the preceding week. Nigerian Breweries Plc led on the gainers’ table by 1.94 per cent to gain N2.31 followed by Cadbury Nigeria Plc by 11.16p er cent to gain N1.68.

Twenty-eight stocks depreciated in prices lower than 36 of the preceding week. Dangote Cement Plc led on the price losers’ table, dropping by 4.33 per cent to shed N4.98 followed by Mobil Oil Nig. Plc with a loss of N4.98 or 4.28 per cent.

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