UBA, Fidelity, two other banks account for 48 per cent of volume on Exchange

A turnover of 2.160 million shares worth N16.998 billion in 31,241 deals was traded this week in contrast to a total of 972.737million shares valued at N8.509 billion that exchanged hands last week in 13,745 deals.

The Financial Services sector was the most active during the week (measured by turnover volume) with 1.686 billion shares worth N12.055billion exchanged hands by investors in 19,947 deals.

Volume in the sector was largely driven by activity in the shares of U B A Plc, Fidelity Bank Plc, Unity Bank Plc, and Zenith Bank Plc. Trading in the shares of the four Banks accounted for 807.493 million shares, representing 48 per cent and 37.39 per cent of the sector and total turnover traded during the week respectively. The Conglomerates sector boosted by activity in the shares of Transnational Corporation of Nigeria Plc followed on the week’s activity chart with a turnover of 195.656 million shares valued at N302.207million in 960 deals.

The Consumer Goods sector (measured by turnover volume) was third with 93.297 million shares valued at N3.121 billion traded in 4,892 deals. The top three sectors accounted for 1.975 billion shares valued at N15.478billion traded in 25,799 deals, thus accounting for 91 per cent, 91.06 per cent and 83 per cent, of the volume, value and number of deals respectively.

Also traded during the week was 413 units of NewGold Exchange Traded Funds (ETFs) valued at N1.042million exchanged hands in 5 deals in contrast to a total of 438 units valued at N1.108 million transacted last week in 4 deals. There were no transactions through the stock market in the FGN Bonds, State/Local Government Bonds and Corporate Bonds/Debentures sectors.