The stock market recorded a total of 29,298 deals with 1.49 bn shares traded worth N24.28bn for the week. The figures recorded this week show no remarkable difference from the figures recorded last week; there were 29,683 deals worth N24.43 bn with 1.47bn shares traded last week.
In value, UBA led other companies with 3.34 bn shares traded followed by Geregu and GTCO with 3.29bn and 2.20 bn shares traded respectively. In volume, UBA maintained its dominance with shares worth N1.79bn traded, followed by Fidelity bank with N1.55bn and Accesscorp with N1.11bn traded for the week.
The financial sector has maintained a steady dominance over other sectors on the stock market contributing 69.99% of the total volume recorded and 52.34% of the total value this week.
| COMPANY | VOLUME |
| UBA | 179,778,794 |
| FIDELITYBK | 155,576,695 |
| ACCESSCORP | 111,770,001 |
| WEMABANK | 98,823,838 |
| FCMB | 70,011,433 |
| TRANSCORP | 65,898,688 |
| GTCO | 62,375,196 |
| ZENITHBANK | 53,790,491 |
| ETRANZACT | 45,015,939 |
| UNIVINSURE | 40,012,468 |
Top 10 companies by volume
| COMPANY | VALUE ( |
| UBA | 3,342,998,566 |
| GEREGU | 3,295,781,652 |
| GTCO | 2,207,142,435 |
| ACCESSCORP | 1,858,123,781 |
| ZENITHBANK | 1,769,545,639 |
| DANGSUGAR | 1,476,220,006 |
| FIDELITYBK | 1,287,242,370 |
| MTNN | 921,343,197 |
| SEPLAT | 902,677,487 |
| NASCON | 812,644,759 |
Top 10 companies by value
In value, the largest number of shares were traded on Friday; with shares worth N6.38bn trade, followed by Tuesday with N5.16bn worth of shares traded. The lowest daily value of shares was recorded on Monday with N3.55bnIn volume, the highest number of shares were traded on Wednesday with 3.97mn shares traded, while the lowest of shares were traded on Friday with 2.05mn shares traded.
Top Price Gainers
| COMPANY | OPEN ( | CLOSE ( | CHANGE (%) |
| THOMAS WYATT NIG | 2.80 | 3.63 | 29.64 |
| DAAR COMMUNICATIONS | 0.21 | 0.23 | 9.52 |
| JULIUS BERGER NIG | 33.00 | 36.00 | 9.09 |
| UNITED BANK FOR AFRICA | 17.55 | 19.00 | 8.26 |
| LEARN AFRICA PLC | 3.10 | 3.30 | 6.45 |
| CHAMS HOLDING COMPANY PLC | 1.40 | 1.49 | 6.43 |
| ROYAL EXCHANGE PLC | 0.47 | 0.50 | 6.38 |
| SUNU ASSURANCES NIGERIA PLC | 1.04 | 1.10 | 5.77 |
| CAP PLC | 20.15 | 21.20 | 5.21 |
| DANGOTE SUGAR REFINERY PLC | 60.70 | 63.50 | 4.61 |
Top Price Decliners
| COMPANY | OPEN ( | CLOSE ( | DECLINE (%) |
| SOVEREIGN TRUST INSURANCE PLC | 0.40 | 0.33 | -17.50 |
| CADBURY NIGERIA PLC | 15.00 | 12.60 | -16.00 |
| STANBIC IBTC HOLDINGS PLC | 80.00 | 69.55 | -13.06 |
| FLOUR MILLS NIG. PLC | 32.00 | 28.20 | -11.88 |
| OKOMU OIL PALM PLC | 263.00 | 236.80 | -9.96 |
| NIGERIAN BREW. PLC | 42.00 | 38.00 | -9.52 |
| MULTIVERSE MINING AND EXPLORATION PLC | 2.95 | 2.67 | -9.42 |
| R T BRISCOE PLC | 0.57 | 0.52 | -8.77 |
| CORNERSTONE INSURANCE PLC | 1.55 | 1.42 | -8.39 |
| ELLAH LAKES PLC | 4.35 | 4.00 | -8.05 |
The Naira’s decline has raised concern among investors, experts and the general public. The IMF has stated that the country may need to seek for a loan in order to stabilise the currency. The impact of the Naira on the Nigerian stock exchange cannot be overemphasized. A weaker Naira may mean investors may find it difficult to invest, while companies may experience financial difficulties which may affect the value of their shares on the exchange.
The rate of inflation is another factor worth mentioning. Many Nigerians have continued to face the impact of inflation which has affected the price of goods and services. In spite of the economic challenges, the IMF has expressed optimism that the policies put in place are good steps in the right directions. The removal of the ban on Forex for certain goods may also bring some much-needed improvement in the coming weeks.
