Law Union drives NSE volume

Law Union and Rock Insurance Plc drove the market volume on the floor of the Nigerian Stock Exchange last Friday by recording a transaction volume of 252.815 million shares valued at N1.206 billion in only 23 transactions inching by 3 kobo to close at N4.93 per share.

Aso Savings and Loans Plc emerged the second volume driver having pulled a transaction volume of 154.034 million shares worth N574.918 million executed in 89 deals dropping 19 kobo to close lower at N3.61 per share.

Investment and Allied Assurance Plc occupied the third position with 126.388 million shares exchanged by investors in 432 deals at N137.763 million easing 5 kobo to close at N1.09 per share.

Goldlink Insurance Plc followed from a distance with 78.407 million shares equivalent to N164.006 million exchanging hands in 81 trades while Platimum Habib Bank Plc trailed with 67.691 million shares valued at N1.895 billion in 698 deals adding 5 kobo to close at N28.50 per share.

Other volume drivers in the market last Friday include Fidelity Bank Plc 46.161 million shares, Sterling Bank Plc 37.767 million shares, First Inland Bank Plc 35.013 million shares, Intercontinental Bank Plc 32.951 million shares and United Bank for Africa Plc 29.610 million shares.

In all, investors staked N12.740 billion on 1.237 billion shares in 13,658 deals as against 983.537 million shares worth N17.294 billion in 17,112 trades recorded the previous day.

Analysis of the two days’ record showed that though the transaction rose when compared to the previous day’s, the market value, and number of deals which measures investors’ interest in shares dropped, an indication that investors are still treading cautiously.—The Tide