Transactions in the shares of Sovereign Trust Insurance, Mutual Benefits Assurance, and Transnational Corporation of Nigeria Plc dominated in volume terms, at the end of last week’s transactions on the equities sector of the Nigerian Exchange Limited (NGX).

The three stocks led the activity chart with 567.2 million shares valued at N3.7 billion traded in 7,970 deals; thus contributing 55.3 per cent and 44.7 per cent to the total equities turnover volume and value respectively.

Sectoral performance of last week’s trading showed that the financial services industry led the chart in volume terms with 567.2 million shares valued at N3.7 billion traded in 7,970 deals; thus contributing 55.3 per cent and 44.7 per cent to the total turnover volume and value respectively.

The ICT Industry followed with 126.6 million shares units valued at N1.7 billion in 1,073 deals. The consumer goods sub-sector ranked third with a turnover of 90.5 million shares worth N1.5 billion in 3,344 deals

Consequently, a turnover of one billion shares worth N8.2 billion was recorded in 18,102 deals by investors on the floor of the Exchange.

However, this volume of shares traded is down from a total of 866.5 million units worth N12.3 billion that was exchanged in 17,291 deals during the preceding week.

Chief Research Officer of Investdata Consulting Limited, Ambrose Omordion, said the low volume suggests that institutional investors and others are still cautiously looking at the numbers.

Courtesy: The Guardian