By Omodele Adigun
THE Nigerian Stock Exchange(NSE) has delisted about 914 million units of Wema Bank shares just as 1.5billion units of Intercontinental Bank Plc Preference shares have also been taken off the daily official list.
According to the Exchange, a total of 913,907,131 ordinary shares of 50 kobo each belonging to Wema Bank , representing the unpaid portion allotted to SW8 Investment Limited in May 2009, now reversed in compliance with the directive of the Central Bank of Nigeria(CBN), were removed from the outstanding shares of the bank. Its total shares now stand at about 38.6billion units.
Meanwhile, a turnover of 1.476 billion shares worth N7.992 billion were traded last week in 15,743 deals by investors.This was in contrast to the 4.476 billion shares valued at N11.742 billion that changed hands in 14,124 deals during the previous week.
The Financial Services Industry led the activity chart with 1.319 billion shares valuing N5.590 billion and traded in 9,955 deals to accont for 89.36 per cent and 69.94 per cent of the equity turnover for the week and value respectively. The Conglomerates Industry followed with 50.809 million shares worth N108.297 million in 557 deals. The third place was occupied by the Consumer Goods Industry with a turnover of 49.655 million shares worth N1.376 million in 2,434 deals.
Trading in the top three equities namely – Wapic Insurance Plc, FCMB Holding Plc and Access Bank Plc- accounted for 578.238 million shares worth N933.534 million in 1,424 deals, contributing 39.18 per cent and 11.68 per cent to the total equity turnover volume and value respectively.
The NSE All-Share Index and Market Capitalization appreciated by 6.57 per cent and 6.55 per cent to close the week at 25,820.10 and N8.882 trillion respectively.
Similarly, all other Indices finished higher during the week, with the exception of the NSE-Main Board Index, NSE Consumer Goods Index and NSE Oil/Gas Index that depreciated by 0.54 per cent, 1.36 per cent and 6.10 per cent respectively, while the NSE ASeM Index closed flat. Thirty-five equities appreciated in price during the week, higher than the 21 of the previous week.
On the other hand, 24 equities depreciated in price, lower than 35 equities of the previous week, while 130 equities remained unchanged, lower than the 134 equities recorded in the previous week.