Trading started for the week on Monday with a total of 2.68mn shares worth N3.46bn. In total 1.47 shares worth N24.43bn were traded in 29,683 deals. Compared to last week, there was a 39% increase in the value of shares traded and a 9.4% decrease in the volume of shares traded.
The sum of 2.41bn shares worth N22.11bn were traded last week. Seplat, an oil and gas company, topped other companies in the value of shares traded with N3.99bn shares traded, followed by Accesscorp and Zenith Bank with N2.8bn and N2.69bn respectively.
In terms of volume of shares traded, AccessCorp topped other companies with 1.77bn shares traded in volume followed by Neimeth a pharmaceutical company 1.64bn, and Fidelity Bank 1.60bn. The banking sector continued with its dominance on the stock market trading 9.29mn shares worth N12.95bn in total; this represents 53% and 63% in trading value and volume respectively.
| COMPANY | VALUE |
| SEPLAT | 4,317,915,321 |
| ACCESS CORP | 2,800,221,742 |
| ZENITHBANK | 2,690,089,358 |
| UBA | 2,553,706,355 |
| GTCO | 2,391,759,652 |
| FIDELITY BANK | 1,325,533,483 |
| DANGSUGAR | 818,056,340 |
| MTN NIG | 688,426,921 |
| OKOMUOIL | 674,356,945 |
| OANDO | 535,290,797 |
Top 10 companies by trading value
| COMPANY | VOLUME |
| ACCESS CORP | 177,223,115 |
| NEIMETH | 164,734,716 |
| FIDELITY BANK | 160,885,111 |
| UBA | 147,381,472 |
| ZENITHBANK | 84,767,699 |
| GTCO | 68,585,286 |
| TRANSCORP | 64,123,529 |
| OANDO | 56,629,788 |
| UNIVINSURE | 54,746,870 |
| ABCTRANS | 30,500,032 |
Top 10 companies by trading volume
Trading for the week started on a low note, with a spike in the value of shares traded occurring on Tuesday. Trading for the week ended with the value and volume of shares traded decreased from the previous day.
It was worthy of note that on Thursday the 12th of October, 2023, the Central Bank of Nigeria announced that it had lifted the ban on Forex for 43 items which includes rice, cement, and many others. This may have prompted investors and traders to be more cautious leading to the decline in the value and volume of shares traded.
Top 10 price gainers for the week
| COMPANY | OPEN ( | CLOSE ( | CHANGE (%) |
| THOMAS WYATT NIG. PLC | 2.14 | 2.80 | 30.84 |
| ASSOCIATED BUS COMPANY PLC | 0.65 | 0.80 | 23.08 |
| CONSOLIDATED HALLMARK INSURANCE PLC | 1.02 | 1.15 | 12.75 |
| BUA CEMENT PLC | 94.00 | 105.80 | 12.55 |
| MCNICHOLS PLC | 0.60 | 0.66 | 10.00 |
| CAPITAL HOTEL PLC | 2.75 | 3.02 | 9.82 |
| UNIVERSITY PRESS PLC | 2.15 | 2.36 | 9.77 |
| ELLAH LAKES PLC | 3.97 | 4.35 | 9.57 |
| NIGERIAN BREWERIES PLC | 38.50 | 42.00 | 9.09 |
| COURTEVILLE BUSINESS SOLUTIONS PLC | 0.55 | 0.60 | 9.09 |
Top price decliners for the week
| COMPANY | OPEN ( | CLOSE ( | CHANGE (%) |
| PRESTIGE ASSURANCE PLC | 0.50 | 0.45 | -10.00 |
| ROYAL EXCHANGE PLC | 0.52 | 0.47 | -9.62 |
| PRESCO PLC | 201.20 | 182.00 | -9.54 |
| FTN COCOA PROCESSORS PLC | 1.80 | 1.64 | -8.89 |
| DAAR COMMUNICATIONS PLC | 0.23 | 0.21 | -8.70 |
| REGENCY ASSURANCE PLC | 0.37 | 0.34 | -8.11 |
| CUSTODIAN INVESTMENT PLC | 7.65 | 7.20 | -5.88 |
| ECOBANK TRANSNATIONAL INCORPORATED | 16.00 | 15.15 | -5.31 |
| STERLING FINANCIAL HOLDINGS COMPANY LTD | 3.50 | 3.32 | -5.14 |
| E-TRANZACT INTERNATIONAL PLC | 9.40 | 9.00 | -4.26 |
With the recent removal of the ban on Forex for certain items, Importers of the items affected can now purchase foreign exchange on the Nigerian Foreign Exchange Market. There could be a ripple effect on the stock market, with traders and business people trading Forex.
The Naira/Dollar rate is also worth mentioning in determining price trends on the stock market, the Naira has in recent times dropped in value, plummeting to N1040/N1050 to a dollar in recent times. The remaining days of the year will no doubt be crucial as the country tries to strengthen its economic state and ease the rising inflation.
