Stock Market Turnover Swells By Over 100%

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The Nigerian Stock Market turnover leaped by over 100 per cent last week as 1.826 billion shares worth N14.468 billion changed ownership in 20,058 deals on the Lagos floor of the Bourse.

This was about 100.5 per cent increase on the 910.659 million shares valu­ing N6.409 billion recorded the previous week in 15,023 deals.

The last week figure was buoyed by trading in three banking stocks- Eco­bank, Access Bank and FBN Holdings-which accounted for 37.38 per cent of the eq­uity turnover with 682.553 million shares worth N6.787 billion.

Driven by transaction in the three banks, the Finan­cial Services topped the ac­tivity chart with 1.471 billion shares valued at N10.686 billion and traded in 11,038 deals to contribute 80.58 per cent and 73.86 per cent to the total equity volume and value respectively.

The Conglomerates Industry fol­lowed with 187.026 million shares worth N313.287 mil­lion , while the third place was occupied by the Con­sumer Goods Industry with a turnover of 74.728 million shares worth N2.054 billion.

In the bond market, a total of 8,033 units of FGN bonds valued at N8.923 mil­lion were traded in six deals, compared to a total of 23,903 units worth N28.385 mil­lion transacted the previous week in seven deals.




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