Stock Market Turnover Tumbles to 885million Shares

Stock Market Turnover crashed by close to seven billion shares last week on floor of the Nigerian Stock Exchange, NSE, as less than 900 million shares were transacted, compared to the over 8billion traded the previous week.

At the close of business at the weekend, a turnover of 885.367 million shares worth N5.829 billion in 13,870 deals were traded in contrast to the 8.054 billion shares valued at N13.328 billion that changed hands the previ­ous week in 15,212 deals.

The Financial Services In­dustry led the activity chart with 747.817 million shares valued at N3.832 billion and traded in 8,768 deals to account for 84.46 per cent and 65.73per cent to the to­tal equity turnover volume and value respectively. The Consumer Goods Industry followed with 45.517 mil­lion shares worth N977.579 million . The third place was occupied by the Agriculture Industry with a turnover of 32.313 million shares worth N48.460 million in 247 deals.

Trading in the stocks of Zenith Bank Plc, GT Bank and UBA accounted for 290.319 million shares worth N3.015 billion in 3,795 deals, contributing 32.79 per cent and 51.72 per cent to the total equity volume and value respectively.

As for bonds, a total of 3,241 units of FGN and corporate bonds valued at N3.579 million were traded in four deals compared to a total of 28,280 units of F GN and state government bonds valued at N29.572 million transacted the previ­ous week in eight deals.