Banks Contribute 65% Shares At Exchange

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The Banking sub-

sector at the end of Wednesday’s transactions on the floor of the Nigerian Stock Exchange (NSE) contributed 65 percent of the total shares traded by the Exchange.

The Banking sub-sector traded a total of 256,362,027 shares worth N2,48 billion in 3.252 deals, compared to the Exchange statistics of 400,300,625 shares, valued at N3.83 billion, which exchanged hands in 5,435 deals.

The sector’s performance were boosted by the activities of First Bank, Guaranty Trust Bank and United Bank of Africa (UBA) which traded a total of 62,401,638; 51,579,618 and 29,633,485 shares respectively, worth N855.3; N828 and N196.6 million respectively, in 668; 616 and 223 deals respectively.

However, the volume of the Exchange traded equities appreciated by 48,343,610 shares from 351,957,015 shares traded Tuesday, to close higher at 400,300,625 shares.

Also the value of shares went up by N1.03 billion to close higher at N3.83 billion from N2.797 billion traded Tuesday.

Meanwhile, market closed lower at 25,788.06 basis points, losing 33.79 points from 25,788.06 points traded Tuesday.

Market capitalisation also lost N10.797 billion from N8.25 trillion traded Tuesday, to close lower at N8.24 trillion.

Hony flow gained 23 kobo to lead the gainers chart, while Ashaka Cement lost N1.34, to top the losers’ chart.