Investors increase interests in shares of financial services industry

Nigeria Stock Exchange trading floor

Investors on the Nigerian Stock Exchange, NSE, in the outgone week increased their interest in the Financial Services Industry shares, as the Federal Government unveiled its fiscal policy through the Medium Term Expenditure Framework, MTEF

In the week under review, investors’ appetite for the financial services industry shares, measured by volume and value, appreciated by 70.49 per cent and 36.89 per cent or 827.653 million shares worth N5.108 billion traded in 8,266 deals.

A further breakdown of financial services industry activities indicated that Multiverse Plc, Guinea Insurance Plc and Zenith International Bank Plc, attracted the highest investors interest with 397.435 million shares valued at N1.869 billion in 1,785 deals.

The Natural Resources Industry followed with 147.047 million shares worth N73.740 million in 18 deals while investors interest in Consumer Goods Industry accounted for a turnover of 88.348 million shares worth N4.428 billion in 2,518 deals.

Seplat Petroleum Development Company in the period under review gained N10.30 to close at N217.35 per share.

Mobil Oil share price appreciated by N6.30 to close at N32.41 while Flour Mills gained N1.37 to close at N20.47 per share.

Conversely, UAC of Nigeria led the price losers with N1.41 to close at N24.20 per share.

Zenith bank share price dipped by N1.25 to close at N14.80 while Oando lost 50k to close at N5.40 per share.

PREMIUM TIMES reports that in spite of investors’ high appetite for quoted shares, the NSE All-Share Index and Market Capitalization depreciated by 1.31per cent to close the week at 27,269.71 points and N9.376 trillion respectively.

In the same vein, the nine other sectoral Indices finished lower during the week, with the exception of the NSE Oil and Gas Index that rose by 0.09 per cent while the NSE ASeM Index closed flat.

Overall, investors across the trading floors of the NSE bought 1.174 billion shares worth N13.846 billion in 13,870 deals in contrast to 1.218 billion shares valued at N14.685 billion traded in the pervious in 13,495 deals.

In the same period, 10,501 units of Federal Government Bonds and one State Government Bond valued at N12.024 million were traded in 5 deals, compared with a total of 90 units of federal government bonds valued at N109,423.68 million transacted last week in one deal.

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