Heavy transactions in the shares of some banks and financial stocks, especially Sovereign Trust, and FBN Holdings, last week, lifted the volume of shares traded, as a turnover of 2.804 billion shares worth N54.776billion were recorded in17,792 deals by investors on the floor of the Nigerian Stock Exchange (NSE).

This volume of shares traded, was, however, higher than a total of 1.316 billion units valued at N13.784 billion that changed hands in 19,169 deals during the preceding week.

Specifically, at the close of transactions last week, the financial services industry (measured by volume) led the activity chart with 2.352 billion shares valued at N8.995 billion traded in 9,364 deals; thus contributing 83.88 per cent to the total equity turnover volume.

The consumer goods industry followed with 178.982 million shares worth N16.849 billion in 4,297 deals.

The industrial goods industry ranked third with a turnover of 140.570 million shares worth N27.848 billion in 794 deals.

Trading in the top three equities namely – Sovereign Trust Insurance Plc, FBN Holdings Plc, and Dangote Cement Plc accounted for 1.917 billion shares worth N29.875billion in 2,130 deals, contributing 68.37 per cent to the total equity turnover volume.

There were no trades recorded in Exchange Traded Products (ETPs) during the week compared with a total of 1,210 units valued at N13,467.70 transacted last week in two deals.

Also, a total of 5,950 units of Federal government bonds valued at N6.247million were traded this week in two deals, compared with a total of 2,806 units valued at N2.623million transacted last week in 16 deals.

The NSE All-share index, and market capitalisation depreciated by 1.12 per cent and 0.57 per cent to close the week at 36,703.58 and N12.774trillion respectively.

Similarly, all other indices finished lower during the week with the exception of the NSE Oil/Gas Index that appreciated by 0.85 per cent.

About 20 equities appreciated in price during the week, lower than 30 of the previous week. Also, 43 equities depreciated in price, higher than 29 equities of the previous week, while 108 equities remained unchanged lower than 112 equities recorded in the preceding week.