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Banks, insurance stocks lead as market records N15.3 billion turnover | The Guardian Nigeria News - Nigeria and World News

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High volume transactions in the stocks of some banks and insurance companies, last week, lifted the volume of shares traded as 914.4 million shares valued at N15.3 billion were exchanged in 18,021 deals.

The turnover was higher than 823 million units valued at N12.2 billion which changed hands in 17,482 deals the previous week.

Trading in the top three equities – Mutual Benefits Assurance Plc, FBN Holdings Plc and Access Holdings Plc accounted for 325.8 million shares worth N1.8 billion in 1,897 deals, contributing 35.6 per cent to activities. The NGX all-share index and market capitalisation appreciated by 0.6 per cent to close the week at 49,682.15 and N26.797 trillion respectively.

Chief Executive Officer of Investdata Consulting, Ambrose Omordion, said: “Price corrections in large-cap companies and retracement in the prices of some blue-chips, signaling the possibility of a rebound.

 

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