STOCK MARKET REPORT FOR THE WEEK ENDING FRIDAY, 30TH JULY 2010

A turnover of 2.11 billion shares worth N17.7 billion in 33,067 deals was recorded this week, in contrast to a total of 2 billion shares valued at N14.1 billion exchanged last week in 30,906 deals. There were no transactions in the Federal Government Development Stocks, State Government Bonds and Industrial Loans/Preference Stocks sectors.

The Banking sub-sector was the most active during the week (measured by turnover volume), with 1.1 billion shares worth N9 billion exchanged by investors in 19,170 deals. Volume in the Banking sub-sector was largely driven by activity in the shares of Diamond Bank Plc, UBA Plc, First Bank of Nigeria Plc, Zenith Bank Plc and Access Bank Plc. Trading in the shares of the five Banks accounted for 560.8 million shares, representing 51.2% and 26.6% of the sub-sector’s turnover and total volume traded during the week, respectively.

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