The value of banking stocks quoted on the floor of the Nigerian Stock Exchange depreciated by N3.123bn in just one week, a data compiled by our correspondent has shown.
As of the end of last week, the value of banking stocks was N5.89bn, while the figure dropped to N2.767bn at the close of trading this week.
In aggregate terms, a turnover of 674.721 million shares worth N7.657bn in 12,290 deals were traded this week by investors on the floor of the NSE in contrast with a total of 1.163 billion shares valued at N9.251bn that exchanged hands last week in 14,992 deals.
Thin week, the financial services industry (measured by volume) led the activity chart with 495.992 million shares, valued at N2.767bn and traded in 6,522 deals.
This contributed 73.51 per cent and 36.14 per cent to the total equity turnover volume and value respectively.
The conglomerates industry followed with 80.885 million shares worth N95.212m in 536 deals. The third place was occupied by the construction/real estate industry with a turnover of 32.484 million shares worth N18.498m in 70 deals.
Trading in the top three equities namely – Law Union & Rock Insurance Plc, Ecobank Transnational Incorporated and Transnational Corporation of Nigeria Plc (measured by volume) accounted for 263.199 million shares worth N1.033bn in 637 deals, contributing 39.01 per cent and 13.49 per cent to the total equity turnover volume and value respectively.
Sixteen equities appreciated in price during the week, lower than 22 equities of the previous week. Thirty-eight equities depreciated in price, lower than 42 equities of the previous week, while 126 equities remained unchanged higher than 116 equities recorded in the preceding week.
Last week, the financial services industry (measured by volume) also led the activity chart with 1.022 billion shares valued at N5.890bn traded in 8,812 deals; thus contributing 87.93 per cent and 63.68 per cent to the total equity turnover volume and value respectively.
The conglomerates industry followed with 61.569 million shares worth N141.308m in 633 deals. The third place was occupied by the consumer goods industry with a turnover of 33.086 million shares worth N2.017bn in 2,642 deals.
