The stock market this past week experienced a 34% increase in trading volume and a 36% decrease in trading volume from the previous. A total of 3.9bn shares valued at N30.4bn in 38,536 deals were traded this week, compared to 2.9bn shares worth N47.5bn traded last week. Universal Insurance Plc. (UNIVINSURE) recorded the highest trading volume accounting for 42% of the total volume of shares traded. This may be due to the fact that the company recently released its half-year 2023 financial results, attracting investors and leading to the high volume of shares recorded. Oando recorded the second highest volume of shares traded, followed by United Bank for Africa – UBA.
Top 10 Companies by volume of shares traded
| Company | Volume Traded |
| UNIVINSURE | 1,659,404,133 |
| OANDO | 298,105,023 |
| UBA | 254,345,239 |
| ACCESSCORP | 169,486,549 |
| CHAMS | 157,205,327 |
| TRANSCORP | 135,474,948 |
| JAPAULGOLD | 125,924,934 |
| STERLINGNG | 91,218,669 |
| COURTVILLE | 69,626,941 |
| ZENITHBANK | 59,444,561 |
Top 10 Companies by volume of shares traded
Top 10 Companies by Value of shares traded
| Company | Value |
| UBA | 4,457,191,061 |
| OANDO | 4,114,675,033 |
| AIRTELAFRI | 2,992,798,517 |
| ACCESSCORP | 2,921,192,182 |
| ZENITHBANK | 1,968,368,525 |
| GTCO | 1,606,082,455 |
| MTNN | 1,116,588,460 |
| DANGSUGAR | 936,318,284 |
| TRANSCORP | 865,262,254 |
| UCAP | 858,314,873 |
Top 10 Companies by Value of shares traded
The Banking sector was the dominant sector on the stock market by volume of shares traded, contributing 71% of trading volume. They were followed by the Energy sector (oil and gas), and the ICT sector contributing 11% and 8% of trading volume respectively. Trading on Monday (18th) with 515,280,396 shares worth 8,925,828,720 traded and ended with 1,028,442,215 shares worth 4,354,908,478 on Friday (22nd).
Daily Value of Shares Traded
Daily Volume of Shares Traded
Top 10 Price Gainers
| Company | Open | Close | Change (%) |
| SUNU ASSURANCES NIGERIA PLC | 0.79 | 1.05 | 32.91 |
| ELLAH LAKES PLC | 3.30 | 4.25 | 28.79 |
| E-TRANZACT INTERNATIONAL PLC | 7.35 | 9.45 | 28.57 |
| CHAMS HOLDING COMPANY PLC | 1.10 | 1.31 | 19.09 |
| ABBEY MORTGAGE BANK PLC | 1.70 | 2.00 | 17.65 |
| JAPAUL GOLD AND VENTURES PLC | 0.85 | 1.00 | 17.65 |
| OMATEK VENTURES PLC | 0.40 | 0.47 | 17.50 |
| BERGER PAINTS PLC | 11.00 | 12.75 | 15.91 |
| JOHN HOLT PLC | 1.43 | 1.65 | 15.38 |
| CONSOLIDATED HALLMARK INSURANCE PLC | 0.92 | 1.05 | 14.13 |
Top 10 Price Declines
| Company | Open | Close | Change (%) |
| TANTALIZERS | 0.38 | 0.30 | -21.05 |
| GUINEA INSURANCE | 0.29 | 0.23 | -20.69 |
| MCNICHOLAS PLC | 0.75 | 0.65 | -12.33 |
| UNITY BANK PLC | 1.24 | 1.10 | -11.29 |
| SECURE ELECTRONIC TECHNOLOGY | 0.29 | 0.26 | -10.34 |
| S C O A NIG PLC | 1.40 | 1.26 | -10.00 |
| SKYWAY AVIATION HANDLING COMPANY PLC | 28.15 | 25.35 | -9.95 |
| MULTIVERSE MINING AND EXPLORATION PLC | 3.02 | 2.72 | -9.93 |
| BETA GLASS PLC | 51.85 | 46.70 | -9.93 |
| GLAXO SMITHKLINE CONSUMER NIG. PLC | 12.20 | 11.00 | -9.84 |
The Nigerian Stock market is still volatile with investor’s cautious and taking profit whenever they can. Projections for the new week are mixed with certain factors and conditions in play to determine the direction/trend the market will take. These factors include:
- Rise in crude oil price
- The policies of the Nigerian government
- Policies of the New Acting CBN governor
- Rising Inflation
- The Naira/Dollar exchange rate
- Global economic outlook
Trading Dashboard from Sept 4th to Sept 22nd, 2023
This analysis was done by Martins Andrew. Martins is a graduate of Statistics from University of Jos, Nigeria. He is passionate about using data to improve business decisions.
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