For the first time in many months, the conglomerates sub-sector, last week, upstaged the financial sector on the trading floor of the Nigerian Stock Exchange (NSE), trading 11.396 billion shares valued at N14.534 billion in 890 deals. Specifically, at the close of trading last week, the conglomerates industry contributed 79.94 per cent to the total equity turnover volume.The financial services industry followed with 2.484 billion shares worth N9.797billion in 9,205 deals, while the consumer goods industry trailed with a turnover of 164.156 million shares worth N8.127 million in 4,405 deals. Trading in the top three equities- Transnational Corporation of Nigeria Plc, Wapic Insurance Plc, and Fidelity Bank Plc (measured by volume) accounted for 12.998 billion shares worth N15.494billion in 1,813 deals, contributing 91.17 per cent to the total equity turnover volume. Also traded during the week were a total of 1,090 units of Exchange Traded Products (ETPs) valued at N14,708.50 executed in 10 deals, compared with a total of 127 units valued at N13,837.30 that was transacted last week in five deals. A total volume of 800,000,000 ordinary shares of 50k each of Global Spectrum Energy Services Plc Plc at N5.00 per share were admitted on the Daily Official List of the Exchange on the 27th of November, 2017.

Source: The Guardian December 04, 2017 03:45 UTC