Banking Boosts Market Turnover By 85.59%
By Michael Eboh & Loveta Nnedu
 8th NOV 2006

Trading on the Nigerian Stock Exchange (NSE) was boosted last week by the Banking sub-sector accounting for 85.59 per cent of the market turnover. The banking sub-sector recorded a turnover of 1.13 billion shares valued at N12.57 billion in 18,892 deals.

Afribank Nigeria Plc was the most active stock in the sub-sector with the trading of 542.598 million shares valued at N6.25 billion in 1,038 deals, followed by Intercontinental Bank Plc with the exchange of 127.42 million shares valued at N2.06 billion in 329 deals and Fidelity Bank Plc recording 81.78 million shares valued at N171.53 million traded in 945 deals.

Following on the sectorial analysis was the building materials sub-sector with the trading of 31.02 million shares valued at N1.61 billion in 2,947 deals. West African Portland Cement Company Plc led trading activity in the sub-sector recording 15.85 million shares valued at N966.14 million in 1,213 deals, followed by Benue Cement Company Plc with 7.77 million shares valued at N302.84 million traded in 774 deals and Ashaka Cement Plc posted 5.35 million shares valued at N293.60 million in 636 deals.

Market turnover stood at 1.29 billion shares valued at N17.44 billion

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