The volume of shares traded on the floor of the Nigerian Stock Exchange (NSE) for the week that ended on 10th November was about 2.52 billion. This had a total value of about N45.3 billion (equivalent to about USD 50 Million) in 32838 deals.
This represents a 7% increase in the volume of shares traded compared to 2.45 billion shares worth 40.6 billion in 37959 deals traded in the week that ended 3rd November 2023.
Stock Price and Volume Analysis
JapaulGold, an oil and gas company, continued its dominance over other companies from last week. This may be connected to the fact that their financial reports for Q3 2023 were released two weeks ago.
It recorded a total of 350 million shares traded, while First Bank of Nigeria [FBN] and United Bank for Africa [UBA] with 3.41 million and 3.37 million shares were second and third respectively.
In terms of the total value of shares traded, Stanbic topped other companies with shares worth N7.27 billion (equivalent to USD 8.33 million). This was followed by First Bank and UBA with N6.90 billion (equivalent to USD 7.66 million) and N6.60 billion (equivalent to USD 7.33 million) second and third respectively.
The financial sector has remained dominant for some time; it topped other sectors and pulled 63.5% and 66.4% of trading value and volume, respectively, which corresponds to N28.78 billion and 1.68 billion in trading value and volume.
| COMPANY | VOLUME |
| JAPAULGOLD | 350,757,248 |
| FBNH | 341,571,706 |
| UBA | 337,581,077 |
| UNIVINSURE | 178,600,458 |
| FIDELITYBK | 144,289,312 |
| STANBIC | 104,049,384 |
| GTCO | 72,277,584 |
| CHAMS | 68,751,796 |
| FCMB | 61,969,862 |
| CHIPLC | 61,317,466 |
| COMPANY | VALUE |
| STANBIC | 7,271,125,118 |
| UBA | 6,907,861,124 |
| FBNH | 6,596,057,449 |
| AIRTELAFRI | 6,412,349,264 |
| GTCO | 2,574,490,914 |
| ZENITHBANK | 1,939,515,427 |
| FIDELITYBK | 1,310,373,754 |
| GEREGU | 1,277,236,738 |
| NESTLE | 1,181,749,578 |
| ACCESSCORP | 889,314,626 |
Daily Trading Performance of the Exchange
The week started with 3.91 billion shares traded worth N7.70 billion (equivalent to USD 8.33 million). There was a surge in the value of shares traded on Thursday, with 5.69 billion shares traded worth N16.79 billion (equivalent to USD 17.77 million).
Thursday recorded the highest trading volume and value for the week. The week ended with 5.57 billion shares traded worth N5.56 billion (equivalent to USD 17.77 million).
Top 10 Stocks that Appreciated during the week
| COMPANY | OPEN ( | CLOSE ( | CHANGE (%) |
| JAPAUL GOLD & VENTURES PLC. | 1.27 | 1.98 | 55.91 |
| R T BRISCOE PLC. | 0.43 | 0.60 | 39.53 |
| GLAXO SMITHKLINE CONSUMER NIG. PLC. | 12.40 | 16.05 | 29.44 |
| P Z CUSSONS NIGERIA PLC. | 20.00 | 23.00 | 15.00 |
| DEAP CAPITAL MANAGEMENT & TRUST PLC. | 0.27 | 0.31 | 14.81 |
| OMATEK VENTURES PLC | 0.56 | 0.64 | 14.29 |
| FBN HOLDINGS PLC. | 17.80 | 20.00 | 12.36 |
| FCMB GROUP PLC. | 6.30 | 7.00 | 11.11 |
| PRESTIGE ASSURANCE PLC. | 0.41 | 0.45 | 9.76 |
| OANDO PLC. | 8.80 | 9.60 | 9.09 |
Top 10 Stocks that Declined in Price
| COMPANY | OPEN ( | CLOSE ( | CHANGE (%) |
| CAVERTON OFFSHORE SUPPORT GRP PLC | 1.54 | 1.33 | -13.64 |
| THE INITIATES PLC | 1.14 | 1.02 | -10.53 |
| N NIG. FLOUR MILLS PLC. | 20.00 | 18.00 | -10.00 |
| MULTIVERSE MINING AND EXPLORATION PLC | 3.20 | 2.90 | -9.38 |
| CADBURY NIGERIA PLC. | 15.75 | 14.40 | -8.57 |
| CONSOLIDATED HALLMARK INSURANCE PLC | 1.09 | 1.01 | -7.34 |
| TANTALIZERS PLC | 0.41 | 0.38 | -7.32 |
| ACADEMY PRESS PLC. | 1.90 | 1.77 | -6.84 |
| UPDC PLC | 1.32 | 1.23 | -6.82 |
| E-TRANZACT INTERNATIONAL PLC | 8.10 | 7.55 | -6.79 |
The effect of the All-Share Index experiencing an all-time high from last week appears to have lingered into this week, as suggested by financial analysts and experts. The stock market experienced an increase in the volume and value of shares traded.
It remains to be seen how soon the effects of this feat will wear off on the stock market. Investors will likely latch on to this wave for maximum gains.
The signing into law of the supplementary budget may also cause an inflow of liquidity as funds are disbursed for various purposes; a higher flow of liquidity into different sectors will also have some effect on the stock market in the coming weeks.
The exchange rate and the rate of inflation still remain factors to watch out for. Recently, the Federal Government of Nigeria hinted at plans to take measures that will support and strengthen the value of the naira against the dollar.
The feasibility of this laudable plan remains a topic of debate amongst experts; no doubt, if achieved, this will have ripples on the stock market and the economy as a whole.
This analysis is written for information only. It is by no means a recommendation to any stocks for purchase by any person or group of persons. The author and trendswatch.co bear no responsibility for any decisions taken by any person or groups of persons based on this article
Dashboard for weeks ending 3rd and 10th November, 2023
Dashboard for weeks ending 3rd and 10th November, 2023 (1)
- FUGAZ (Nigeria’s five top tier banks) are all among top 10 companies for volume and value of shares traded.
- Japaulgold dominates in volume of shares traded for the two weeks analyzed.
- The highest volume of shares was traded on Wednesdays and the highest value of shares was traded on Thursdays.
- The financial sector is the dominant sector as seen by the charts.
Dashboard for weeks ending 3rd and 10th November, 2023 (2)
- In volume, the top 10 companies recorded 3.27 billion shares traded which accounts for 65.7% of the total volume of shares traded.
- In value, the top 10 companies recorded
N65.5 billion worth of shares traded, this accounts for 76.3% of the total value of shares traded.
