Trading activities at the floor of the Nigerian Stock Exchange in Week 2, 2018 ended with a total turnover of 5.021 billion shares worth N68.974 billion in 41,542 deals in contrast to a total of 2.417 billion shares valued at N18.813 billion that exchanged hands in the previous week in 20,874 deals.

The Exchange’s weekly report accessed by Enterprations indicates that “The Financial Services Industry (measured by volume) led the activity chart with 3.417 billion shares valued at N31.649 billion traded in 24,375 deals; thus contributing 68.06% and 45.89% to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 894.357 million shares worth N2.180 billion in 3,032 deals. The third place was occupied by Consumer Goods Industry with a turnover of 380.493 million shares worth N26.243 billion in 7,408 deals.”

The report stressed that Transnational Corporation of Nigeria, Diamond Bank and FBN Holdings significantly contributed to the equities, when measured by volume during the week, accounted for 1.975 billion shares worth N7.473 billion in 8,549 deals, contributing 39.33% and 10.83% to the total equity turnover volume and value respectively.

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Enterprations’ further analysis on the week’s activities shows that gains recorded in the first week of the year by the top gainers helped in gaining significantly during the week under review. Over 94% of the previous gains contributed to the new gains attained by the 7 companies that made the top gainers list in Week 1 and current week –Honeywell Flour Mill, Sterling Bank, Diamond Bank, Eterna, FCMB Group and Unity Bank. Diamond Bank’s N0.39 gain in Week 1 increased to N0.65, attaining an increase of N0.26. Eterna Plc recorded N0.86 in the previous week and attained N1.68 in Week 2, increasing by N0.82. However, for the incoming week, the top gainers for this week can only retain the gains by 17.9%, according to our analysis.

On the negative floor, Nestle Plc lost N10 during the week and made it to be the only decliner from the previous week that finished as one of the decliners in the Week 2. Champion Brewery, Conoil and Cement Company of Northern Nigeria also came from behind and made the top gainers’ list. The new entrants into the decliners’ lists were Meyer, GlaxoSmithKline Consumer, Dangote Sugar Refinery, UACN Property Development, Flour Mills and Nigerian Aviation Handling Company.