Investors stake N273.3bn in FGN bonds in one week

THE Over-The-Counter (OTC) market for FGN bonds, last week recorded a turnover of 239.266 million units valued at N273.295 billion in 1,076 deals, in contrast to 157.881 million units worth N174.329 billion in 859 deals recorded during the week ended May 31, 2013.
Similarly, a turnover of 1.917 billion shares worth of N25.133 billion in 32,368 deals were traded this week by investors on the floor of The Exchange in contrast to a total of 1.503 billion shares valued at N14.109 billion that exchanged hands in 24,007 deals during the preceding week.
Specifically, the financial services sector (measured by volume) led the activity chart with a turnover of 1.302 billion shares valued at N13.510 billion traded in 17,126 deals.
The sector represented 67.93 per cent and 53.76 per cent of the total traded volume and value respectively. The banking sub-sector, boosted by activity in the shares of Zenith Bank Plc, Unity Bank Plc and Skye Bank Plc was the most active subsector on the week’s activity chart with a subsector turnover of 1.013 billion shares valued at N11.376 billion exchanged hands by investors in 11,873 deals, as the sector accounted for 52.87 per cent and 45.27 per cent of the total subsector traded volume and value respectively. Also traded during the week were 234 units of NewGold Exchange Traded Funds (ETFs) valued at N504, 991 executed in five deals compared with a total of 52 units valued at N111, 579 transacted last week in three deals.
One thousand one hundred units of FGN bonds valued at N123, 765 were traded during the week in seven deals in contrast to 300 units valued at N33, 242 transacted last week in three deals.
Fifty-eight equities appreciated in prices during the week higher than 40 equities of the preceding week. Twenty-six equities depreciated in prices lower than 36 equities of the preceding week, while 109 equities remained constant lower than 119 equities of the preceding week. A total of 761,642,721 ordinary shares were added to the share outstanding of First City Monument Bank Plc arising from a bonus issue of one for 25 on June 5th, 2013.