For the month of May, 2010, the United Bank For Africa (UBA) Plc, has emerged as the most active stock on the floor of the Nigerian Stock Exchange (NSE), with transactions volume of 470 million shares, followed by Fidelity Bank Plc, 442.9 million shares, while First Bank of Nigeria Plc raked third, with 421.94 million shares.
According to information obtained from the NSE on Tuesday, Zenith Bank Plc took fourth place with 419.23 million shares, while Skye Bank Plc occupied the fifth position with 398.95 million shares, followed by Guaranty Trust Bank Plc, which occupied the sixth position with 361.4 million shares.
The top three most active stocks accounted for 1.33 billion shares or 16.2 per cent of total traded stocks, while the top five most active stocks accounted for 2.15 billion or 26.1 per cent of total transactions during the month.
Also, the ten most active stocks accounted for 3.5 billion or 42 per cent of the total shares traded during the month.
NSE explained that the month of May 2010 would not be forgotten in a hurry by investors and market analysts as most market indicators recorded declines in varying proportions.
“The market recorded a turnover of 8.25 billion shares valued at N76.14 billion in 180,489 deals during May in contrast to a total of 12.6 billion shares valued at N108.31 billion exchanged during April in 206,182 deals.
“Consequently, trading volume and value depreciated by 35 per cent and 30 per cent, respectively. In April, trading volume and value rose by 17 per cent and 19 per cent, respectively.
“Trading days in May was 18 compared to 20 in April. There were no transactions through the stock market on the Federal Government Development Stocks, sub-National Bonds and Industrial Loans/Preference Stocks sectors”, said NSE.
It explained that aggregate stock market turnover between January and May 2010 were 47.72 billion shares valued at N376.24 billion exchanged in 1,001,620 deals.
“In the comparable period during 2009, the market recorded turnover of 35.11 billion shares valued at N207.41 billion in 684,855 deals. The banking sub-sector was the most active (measured by turnover volume) with traded volume of 3.9 billion shares valued at N36.31 billion exchanged in 66,231 deals, while the insurance sub-sector was second with traded volume of 1.6 billion shares valued at N2 billion, exchanged in 8,995 deals.
“The food beverages and tobacco sub-sector was third with transactions volume of 389.9 million valued at N8.34 billion traded in 17,538 deals, while the mortgage companies sub-sector was fourth with transaction volume of 317.8 million shares valued at N176.61 million traded in 1,440 deals.
“The Conglomerates sub sector was fifth with transaction volume of 131.3 million shares valued at N3.41 billion traded in 5,039 deals.
“Consequently, the five sub sectors accounted for 10.0 billion shares valued at N76.21 billion exchanged by investors in 135340