Three bank stocks contributed 26.1 per cent to the activities.

With the contribution, the financial sector maintained its dominance in volume terms with 1.4 billion shares valued at N22.2 billion traded in 17,300 deals.

Hence, it contributed 72.9 per cent to the total equity turnover volume and value. Despite a nine-basis point decline in the all-share index (ASI) on the final trading day of the week, the local bourse closed in an upbeat last week, marking its ninth consecutive week of positive performance.

The positive outing was underpinned by increased demand in banking stocks: Access Corp (+9.63 per cent), Ecobank TransNational Incorporated (+9.4 per cent), United Bank for Africa (+7.3 per cent), and Zenith Bank (+6 per cent) alongside gains in Infinity (+59.3 per cent, SCOA (+28.9 per cent), and other major stocks such as MTNN (+2.7 per cent) and BUA Cement (+0.5 per cent). The year-to-date performance stood at 41.2 per cent.

Precisely, trading in the top three banks (measured by volume) accounted for 491.5 million shares worth N15.5 billion in 5,997 deals, contributing 26.1 per cent to the total equity turnover volume.

Following the banking sector in volume terms last week was the services industry with 97 million shares worth N616.265 million in 1,949 deals.

The third place was the consumer goods industry, with a turnover of 86.4 million shares worth N2.1 billion in 3,819 deals.

According to The Guardian, on the whole, a total turnover of 1.9 billion shares worth N31.6 billion was recorded in 33,020 deals by investors on the floor of the Exchange, in contrast to a total of 2.4 billion shares units valued at N45 billion that were exchanged in 34,704 deals on December 8, 2023.

Consequently, the index and market capitalisation appreciated by 1.2 per cent to close the week at 72,389.23 and N39.6 trillion respectively.

Similarly, all other indices finished higher except NGX Insurance, NGX ASeM, NGX Oil & Gas and NGX Growth which depreciated by 0.96 per cent, 1.04 per cent, 0.27 per cent and 5.23 per cent respectively while the NGX Sovereign Bond index closed flat. (Guardian).

Verve has partnered with eight commercial banks namely, First Bank, Zenith, Access, Ecobank, FCMB, Union, Fidelity and United Bank for Africa (UBA) to reward its loyal customers.

Since the promo started on August 22, 2022, Verve has put smiles on the faces of its cardholders by rewarding them with 10% cashback on their weekly spend, at the end of every week.

Added to that, Verve will be rewarding 20 cardholders with a whooping sum of N1 million each, monthly. Isn’t that exciting?

Two hundred (200) cardholders will also be rewarded with N20,000 monthly when they transact with their Verve cards on Automated Teller Machines (ATMs), Point of Sale (POS) terminals, online platforms, or generate Paycodes for transactions.

Wondering how you can be one of the lucky winners? It’s quite easy! To qualify for the promo, simply start transacting with your Verve card to increase your chances of winning.

And if you do not have a Verve card from any of these banks: FirstBank, Zenith, Access, Ecobank, FCMB, Union, Fidelity, and United Bank for Africa (UBA), you can request one from the branch closest to you.

Speaking on the promo, Chidike Oluaoha, Group Head Growth Marketing, Group Marketing & Corporate Communications, Interswitch, said the Verve Goodlife 3.0 promo was designed to reward cardholders for their unwavering loyalty to Verve.

He noted that beyond providing safe and seamless payment solutions that address the lifestyle needs of Verve cardholders, Verve will continue to reward cardholders for their loyalty. He also urged cardholders to take advantage of the promo to transact more and increase their chances of winning.

The Verve Goodlife National Consumer Promo 3.0 is scheduled to run from August 22till October 30, 2022.