UBA, FBN, Zenith sustain bullish trend on NSE


The trio of United Bank for Africa Plc, FBN Holdings Plc and Zenith International Bank Plc lifted transactions on the Nigerian Stock Exchange last week, accounting for 505.388 million shares valued N5.454 billion in 4,009 deals.

The trio contributed 39.73%  of the total equity volume and 38.98% of the total value for the week ending July 14

Nigerian stock market closed the week on a positive note with a daily gain as reflected in the ASI

With a total turnover of 1.272 billion shares valued at N13.993 billion in 19,385 deals, the week ended Friday 14th of July was bullish.

The Exchange in the previous week had recorded a total 1.061 billion shares valued at N12.295 billion in 18,847 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.086 billion shares valued at N9.743 billion traded in 11,229 deals.

The sector contributed 85.33% and 69. 63% to the total equity turnover volume and value respectively.

The Consumer Goods Industry trailed with 44. 786 million shares worth N1.536 billion in 2,853 deals.

The third place was occupied by Conglomerates Industry with a turnover of 38.104 million shares worth N75.759 million in 727 deals.

The NSE All-Share Index and Market Capitalization appreciated by 2.47% to close the week at 33,261.66 and N11.464 trillion respectively.

Similarly, all other Indices finished higher during the week with the exception of the NSE ASeM index that closed flat, closing at 1,174.61 at the end of the week and -1.27 YtD.

Forty–eight (48) equities appreciated in price during the week, higher than sixteen (16) equities of the previous week.

Twenty-seven (27) equities depreciated in price, lower than fifty-one (51) equities Of the previous week, while ninety-seven (97) equities remained unchanged lower than one hundred and five (105) equities recorded in the preceding week.

A total of 2,977 units of Federal Government Bonds valued at N2.946 million were traded 11 deals in the reviewed week compared with a total of 358 units valued at N344,610.97 in 7 deal in the preceding week