Financial Services Industry Dominates Last Week's Transactions

The financial services industry dominated in volume terms at the end of last week's transactions with 859.6 million shares valued at N20.6 billion in 12,297 deals, contributing 75.9 per cent to the total equity turnover.The financial services industry dominated in volume terms at the end of last week’s transactions with 859.6 million shares valued at N20.6 billion in 12,297 deals, contributing 75.9 per cent to the total equity turnover.

A total turnover of 1.1 billion shares worth N28.7 billion was recorded in 21,921 deals by investors on the floor of the exchange, down from a total of 3.7 billion units valued at N57.9 that was exchanged in 40,726 deals on April 5, 2014. Vetiva Dealing and Brokerage said: “ASI lost 71bps on Friday as investors continue to sell down the banks. Given this week’s bearish performance, we are likely to see moderate losses in that sector, as the market opens the week on a cautious note.”

FMDQ Securities Exchange said the week-on-week decrease in the total turnover was driven by fewer business days during the week-ended April 12, 2024, resulting in the 48.6 per cent and 40.5 per cent decreases in FX spot and FX derivatives turnover, respectively.Before flagging, please keep in mind that Disqus does not moderate communities. Your username will be shown to the moderator, so you should only flag this comment for one of the reasons listed above.

Panache Ventures, Canada's leading early-stage venture capital fund, alongside Kora, a pan-African payment gateway, has sensitised African tech leaders on venture capital in a concerted effort to catalyse technological innovation and investment opportunities in Africa. Axxela Limited has announced the recertification of its Integrated Management System comprising ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018 from the Standards Organisation of Nigeria for portfolio development of gas and power projects.

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IMF Report Reveals Financial Industry as Frequent Target of Cyber IncidentsThe International Monetary Fund (IMF) has disclosed in its latest report that about one-fifth of recorded cyber incidents in the past two decades have affected the financial industry. The report highlights that banks are the most frequent targets, followed by insurers and asset managers. Financial firms have reported significant direct losses, totaling almost $12 billion since 2004 and $2.5 billion since 2020. The report also mentions that firms in advanced economies have been more exposed to cyber incidents compared to those in emerging market and developing economies.
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Financial stocks dominate market activities, contribute 64.04% to turnoverThe financial services industry (measured by volume) led the activity chart with 1.1 billion shares valued at N23.2 billion traded in 19,896
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