Exchange Yet To Recover From Strike

One week after the Nigerian Labour Congress (NLC) suspended its strike action, transactions at the floor of the Nigerian Stock Exchange have continued to dwindle, as most investors are yet to return to the market.

On Friday, investors 171,490,798 shares, worth N1.4 billion exchanged hands in 3,097 deals, compared to 178,270,056 shares, valued at N1.2 which was traded in 3,259 deals.

All -Share Index closed at 20,820.32 points while market capitalisation  was also closed at N6.6 trillion.

Guinness Plc gained N2.50 per share to lead the gainers chart, while WAPCO, CAP and NAHCO all gained N1.74, 72 Kobo and 29 Kobo, respectively to one behind Guinness.

At the sectoral level the Banking sub-sector was the most patronised with 128,867,681 shares, worth N566.3 million which investors traded in 1,506 deals.

Although the sector’s performance led others, the transactions cannot be compared with the booming days of banking shares.

However, the weekend Banking sub-sector activities was largely driven by the transaction of Diamond, FCMB, Skye Bank and UBA which traded 22,110,317. , 14,820,575.28,721,152 and 18,021,640 shares, respectively, worth N566.1, N49.1, N58.5 and N102 millions, respectively, traded in 61, 42, 106 and 123 deals, respectively.