Investors expend N9.06bn on shares in 3 days


By Chinenye Anuforo

TRADING on the Lagos floor of the Ni­gerian Stock Exchange (NSE) yesterday closed the week on a positive note as inves­tors expended N9.06 billion on 850.09 mil­lion shares in 9,414 deals.

This was in contrast to a total of 1.384 billion shares valued at N13.862 billion that changed hands the previous week in 17,984 deals.

It was a three-day trading week as the Federal Government of Nigeria declared Thursday and Friday, September 24-25, 2015 as public holiday in commemoration of the Eid-el-Kabir celebration.

As usual, the Financial Services Industry led the activity chart with 726.294 million shares valued at N6.058 billion traded in 5,086 deals, contributing 85.44 per cent and 66.87 per cent to the total equity turnover volume and value respectively.

The Consumer Goods Industry fol­lowed with a turnover of 38.681 million shares worth N1.79 billion in 1,895 deals. The third most active sector place was the Conglomerates with 37.874 million shares worth N224.698 billion traded in 538 deals.

Trading in three securities; Zenith Bank , United Bank for Africa Plc and Sterling Bank Plc, measured by volume, accounted for 334.012 million shares worth N3.674 billion in 1,472 deals, contributing 39.29 per cent and 40.56 per cent to the total equi­ties turnover volume and value respectively.

However, the NSE All-Share Index and market capitalisation appreciated by 0.69 per cent to close on Wednesday at 30,543.17 and N10.497 trillion respectively.

Similarly, all market indices finished higher during the week with the exception of the NSE Banking and NSE Pension In­dices that shed 0.66 per cent and 0.28 per cent respectively, while the NSE ASeM In­dex closed flat.

After the trading sessions, 29 securities appreciated in price- lower than 56 equities of the preceding week, 36 slumped on the price chart, while 125 equities remained unchanged.

On top of the gainers table were UAC-Properties, Stanbic IBTC and Vono Prod­ucts while top losers were Honeywell Flour, Vita foam and Morison.

According to Afrinvest analysts, “We ob­served investors’ apathy for banking stocks despite the MPC’s decision to reduce CRR to 25 per cent.

Source : SunOnline

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