Dangote Cement, Access Bank and Zenith Bank accounts 833.966 mn shares out of 2.518 bn shares turnover for the week

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The management of the trading floor of The Nigerian Stock Exchange (NSE) during the week released the traded data shown the Dangote Cement Plc, Access Bank Plc and Zenith International Bank Plc shares, the toped other equities which accounted for 833.966 million shares worth N95.969 billion in 3,203 deals by volume, contributing 33.12% and 84.10% to the total equity turnover volume and value respectively.Also shows a total turnover of 2.518 billion shares worth N114.117 billion in 23,546 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 2.211 billion shares valued at N30.636 billion that exchanged hands last week in 26,287 deals.

According to the report, the financial services industry led the activity chart with 1.507 billion shares valued at N16.354 billion traded in 12,511 deals by volume; thus contributing 59.85% and 14.33% to the total equity turnover volume and value for the week respectively.

While the industrial goods sector followed in the chart with 441.914 million shares worth N89.356 million in 1,282 deals and the third place went to conglomerates sector with a turnover of 184.608 million shares worth N701.665 million in 929 deals.

Also traded during the week were a total of 1.166 million units of Exchange Traded Products (ETPs) valued at N16.169 million executed in 17 deals compared with a total of 1.732 million units valued at N13.711 million transacted last week in 19 deals

“A total of 5,850 units of Federal Government Bonds valued at N5.702 million were traded this week in 7 deals, compared with a total of 750 units valued at N695,229.29 transacted last week in 8 deals.“The NSE All-Share Index and Market Capitalization appreciated by 1.52% and 1.53% to close the week at 37,425.15 and N12.899 trillion respectively. Similarly, all other Indices finished higher during the week with the exception of the NSE Banking and the NSE Oil/Gas Index that depreciated by 1.64% and 3.05% respectively while the NSE ASeM Index closed flat.

“Thirty-eight (38) equities appreciated in price during the week, lower than fifty-one (51) equities of the previous week while twenty-eight (28) equities depreciated in price, higher than twenty-three (23) equities of the previous week, leaving one hundred and five (105) equities remained unchanged higher than ninety-seven (97) equities recorded in the preceding week.

Celestine Unkpong, a retail and astute investor has said, though the market over the week showed appreciate able in some indices but analysing further disclosed that the market is better be describe as growth in decline trading.

Unkpong pointed out that looking at overall active equities traded in price movement both gainers and losers accounted for 66 equities to 105 equities that unchanged in price represents 62.86percent. Putting everything in percentage showed that the market overall did not grow as per said rather depreciated or worthless in economic value.

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