Fear as NSE turnover nosedives by 42.38% in January

06 Feb
2019

Fear as NSE turnover nosedives by 42.38% in January

By PENZAZO
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The turnover and volume during the period dropped by 42.38 per cent and 16.16 per cent, respectively when compared with figures achieved in December 2018.

The market posted a turnover of 10.83 billion shares worth N 70. 71 billion traded in 59,132 deals for the month of December 2018. Data obtained by NAN from the exchange indicated that the financial services sector remained the most active in volume terms, accounting for 3.43 billion shares valued at N22.62 billion in 28,671 deals.

Diamond Bank emerged the most sought equity during the period in volume terms, with an exchange of 1.31 billion shares worth N2.72 billion in 3,918 deals.

GT Bank came second with 469.59 million shares worth N15.24 billion in 5,775 deals, while conglomerates trailed with a turnover of 6.63 billion shares valued at N16.54 billion exchanged in 10, 541 deals. Transcorp listed under the conglomerates came third with a total of 288.76 million shares worth N334.33 million transacted in 2,476 deals, while UACN traded 21.09 million shares valued at N184.93 million achieved in 934 deals. It was followed by Nigerian Breweries which accounted for 40.84 million shares worth N3.07 billion traded in 1,814 deals, while Honeywell sold 27.98 million shares valued at N33. 80 million in 723 deals.

Source: Vanguard