Flourmills leads gainers, as banks boost NSE’s turnover

Flour Mills Plc traded higher at the end of last week’s transactions on the flour of the Nigerian Stock Exchange (NSE). It led nine others with 20.31 per cent to close at N19.49 per share. Following Flour Mills last week was African Prudential Registrars, adding 14.51 per cent to close at N2.92 per share. Other gainers of last week’s transactions are Fidson, Unity Bank, Champion Breweries, adding 12.90, 9.26 and 8.41 per cent to close at N1.40, N0.59 and N2.45 per share. Mobil Oil added 7.16 per cent to close at N208.97 per share. Diamond Bank gained 6.74 per cent to close at N0.95 per share. Transcorp Hotels garnered 4.95 per cent to close at N5.51 per share. Cutix gained 4.76 per cent to close at N1.98 per share. National Aviation Handling Company also gained 4.27 per cent to close at N2.44 per share. Meanwhile, heavy transactions in the shares of some banks, especially Access Bank and Diamond Bank Plc, last week, lifted the volume of shares traded, as a turnover of 639.439 million shares worth N6.455 billion were recorded in 11,799 deals by investors on the Exchange. This volume of shares traded, was, however, higher than a total of 823.547 million shares valued at N5.444 billion that changed hands in 11,634 deals during the preceding week. The financial services industry (measured by volume) led the activity chart with 491.758 million shares valued at N2.211 billion traded in 6,241 deals; thus contributing 76.90 per cent and 34.25 per cent to the total equity turnover volume and value respectively. The conglomerates industry followed with 64.507 million shares worth N58.500 million in 681 deals. The third place was occupied by the consumer goods industry with a turnover of 54.901 million shares worth N3.307 billion in 2,386 deals. Trading in the top three equities namely – Access Bank, Diamond Bank and TransCorp (measured by volume) accounted for 210.407 million shares worth N527.918 million in 1,316 deals, contributing 32.91 per cent and 8.18 per cent to the total equity turnover volume and value respectively. Also traded during the week were a total of 25 units of Exchange Traded Products (ETPs) valued at N235.15 executed in five deals, compared with a total of 60 units valued at N537.00 transacted last week in 11 deals. A total of 2,100 units of Federal Government Bonds valued at N1.838 million were traded in two deals compared to a total of 6,871 units of Federal Government Bonds valued at N5.990 million transacted last week in 8 deals. Source: Guardian