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Market extends weekly gains at 5.05%, as GTBank, FCMB most traded



GTB shareholders commend management for hard work

Trading on The Nigerian Stock Exchange (NSE) for the week ended on Friday, February 12, 2016 maintained an uptrend with the benchmark indices of the All-Share Index and Market Capitalization appreciated by 5.05 percent to close the week at 24,689.69 and N8.491 trillion respectively.

Market extends weekly gains at 5.05%, as GTBank, FCMB most tradedSimilarly, all other indices finished higher during the week, with the exception of the Banking Index, Insurance Index and the Consumer Goods Index that depreciated by 1.14 percent, 1.28 percent and 0.15 percent respectively, while the ASeM index closed flat.

During the week under review, a turnover of 1.407 billion shares worth N17.277 billion in 14,914 deals were traded in contrast to a total of 5.087 billion shares valued at N18.488 billion that exchanged hands upper week in 16,711 deals.

The Financial Services Industry led the activity chart with 1.252 billion shares valued at N7.169 billion traded in 8,451 deals; thus contributing 88.98 percent and 41.49 percent to the total equity turnover volume and value respectively.

The Oil and Gas Industry followed with 50.714 million shares worth N5.338 billion in 1,520 deals. The third place was occupied by the Consumer Goods Industry with a turnover of 37.534 million shares worth N3.117 billion in 2,473 deals.

Trading in the top three equities included Guaranty Trust Bank Plc, FCMB Group Plc and Wema Bank Plc, when measured by volume, accounted for 667.292 million shares worth N4.256 billion in 2,114 deals, contributing 47.44 percent and 24.63 percent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 115,641 units of Exchange Traded Products (ETPs) valued at N1.285 million executed in 28 deals, compared with a total of 34,089 units valued at N604,908.34 transacted a week before in 34 deals.

A total of 39,340 units of both State and Federal Government Bonds valued at N44.246 million were traded in 3 deals, compared with a total of 4,190 units valued at N4.884 million transacted the previous in 5 deals.

Twenty-six equities appreciated in price during the week, lower than 30 equities of the previous week, while thirty equities depreciated in price, lower than 40 equities of the previous week, while 134 equities remained unchanged, higher than 120 equities recorded in the previous week.


Staff Reporter

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