The Nigerian stock exchange traded a total of 2.02 billion shares worth 27.69 billion naira (equivalent to USD 33.23 million) in 32,761 deals. Compared to the figures recorded from last week, there was a 39% decrease in the value of shares traded with 45.30 billion naira (equivalent to USD 54.36 million) recorded and a 20% decrease in the volume of shares with 2.52 billion shares traded in 32838 deals.
Stock price and volume analysis
In trading volume, Japaul Gold, an oil and gas company, extended its two-week dominance over other companies into this week. It traded 1.85 million of its shares worth 3.38 million naira (equivalent to USD 406 Thousand) this week. It was followed by Fidelity Bank and Jaiz Bank, with 1.53 and 1.50 shares traded, respectively.
| COMPANY | VOLUME |
| JAPAULGOLD | 185,087,920 |
| FIDELITYBK | 153,122,343 |
| JAIZBANK | 149,970,489 |
| OANDO | 138,018,766 |
| UBA | 134,987,298 |
| REGALINS | 115,634,763 |
| GTCO | 78,666,644 |
| TRANSCORP | 73,797,060 |
| UNIVINSURE | 70,080,663 |
| ACCESSCORP | 55,428,695 |
In trading value, MTN Nigeria led other companies with shares worth 3.91 billion naira (equivalent to USD 4.70 million) traded; it was followed by GTCO and UBA with 2.89 billion naira (equivalent to USD 3.47 million ) and 2.80 billion naira (equivalent to USD 3.36 million), respectively.
It’s the first time in weeks that a non-banking company would top other companies; it is also the first time in weeks that FUGAZ won’t be fully represented on the list of the top 10 companies for both trading volume and value.
| COMPANY | VALUE |
| MTNN | 3,913,736,131 |
| GTCO | 2,893,280,468 |
| UBA | 2,801,274,267 |
| NESTLE | 2,404,526,636 |
| OANDO | 1,580,255,193 |
| FIDELITYBK | 1,386,131,143 |
| ZENITHBANK | 1,226,858,463 |
| SEPLAT | 1,134,275,066 |
| AIRTELAFRI | 961,032,222 |
| ACCESSCORP | 957,501,622 |
Daily price and volume analysis
Thursday recorded the highest volume of shares traded for the week with 4.83 million shares traded; it was followed by Monday with 4.74 million shares traded. The lowest volume of shares traded for the week was recorded on Wednesday, with 2.97 million shares traded.
In trading value, Monday recorded the highest value traded, with shares worth 7.75 billion naira (equivalent to USD 9.30 million) traded. Wednesday and Friday recorded the second and third highest values, with 6.16 billion naira (equivalent to USD 7.39 million) and 6.03 billion naira (equivalent to USD 7.24 million), respectively.
Top 10 stocks that appreciated during the week
| COMPANY | OPEN ( | CLOSE ( | CHANGE (%) |
| DEAP CAPITAL MANAGEMENT & TRUST PLC | 0.31 | 0.48 | 54.84 |
| C & I LEASING PLC | 3.33 | 4.98 | 49.55 |
| MECURE INDUSTRIES PLC | 3.92 | 5.73 | 46.17 |
| OMATEK VENTURES PLC | 0.64 | 0.87 | 35.94 |
| N NIG. FLOUR MILLS PLC. | 18.00 | 23.90 | 32.78 |
| SECURE ELECTRONIC TECHNOLOGY PLC | 0.28 | 0.36 | 28.57 |
| MULTIVERSE MINING AND EXPLORATION PLC | 2.90 | 3.63 | 25.17 |
| MCNICHOLS PLC | 0.61 | 0.75 | 22.95 |
| PRESTIGE ASSURANCE PLC | 0.45 | 0.55 | 22.22 |
| OANDO PLC | 9.60 | 11.70 | 21.88 |
Top 10 stocks that declined during the week
| COMPANY | OPEN ( | CLOSE ( | CHANGE (%) |
| JAPAUL GOLD & VENTURES PLC | 1.98 | 1.70 | -14.14 |
| BETA GLASS PLC | 59.95 | 54.00 | -9.92 |
| THE INITIATES PLC | 1.02 | 0.92 | -9.80 |
| RED STAR EXPRESS PLC | 3.28 | 3.00 | -8.54 |
| MUTUAL BENEFITS ASSURANCE PLC. | 0.52 | 0.48 | -7.69 |
| CORNERSTONE INSURANCE PLC | 1.50 | 1.40 | -6.67 |
| FTN COCOA PROCESSORS PLC | 1.83 | 1.71 | -6.56 |
| LEARN AFRICA PLC | 2.98 | 2.80 | -6.04 |
| E-TRANZACT INTERNATIONAL PLC | 7.55 | 7.10 | -5.96 |
| CADBURY NIGERIA PLC. | 14.40 | 13.80 | -4.17 |
The stock exchange market Is set to lose 193 billion naira (equivalent to USD 231 million) as Union Bank of Nigeria is set to be delisted on the stock exchange. This is coming as a result of its acquisition by Titan Trust Bank. How this impacts the stock market will surely be seen in the coming days.
The government of Nigeria is currently considering a dual listing of the Nigerian stock exchange with its Saudi counterpart, the Saudi Exchange. Experts believe this will have a positive impact on the Nigerian stock exchange; it will also attract investors and bring about the growth of the stock exchange. This is dependent on whether the dual listing takes place and the objectives are realized.
As the year comes to an end, it remains to be seen how the current economic realities can be surmounted. The federal government has been consistent with its reassurance of a positive impact and change. Issues like the naira-dollar exchange rate and the rate of inflation still stare us in the face. When resolved, these issues will no doubt rebound on the stock market, bringing about more profits and excellent trades.
- Japaulgold maintains the top spot with the highest volume of shares traded in three weeks.
- UBA has the highest value of shares traded for three weeks.
- FUGAZ (Nigeria’s five top-tier banks) is displaced on both trading volume and value.
- Thursday records the highest volume and value of shares traded.
- The Financial sector remains the dominant sector.
- In terms of value, the top 10 companies traded shares worth 80.98 billion naira (97.19 million USD) which represents 71% of the total value of shares traded.
- In terms of volume, the top 10 companies traded 4.16 billion shares which accounts for 59% of the total volume of shares traded.
Disclaimer Notice: This article is in no way advertising or recommending any stock or company. This is purely for information. The author and trendswatch.co will bear no responsibility whatsoever for any decision taken by anyone or any group based on the information gleaned from this article.
