The Nigerian stock exchange market recorded a total of 2.54 billion shares worth N38.64 billion (equivalent to USD 48.98 million) traded in 36,138 deals. Trading for the week recorded increases in value, volume, and number of deals for the week compared to figures recorded last week.
2.42 billion shares worth 22.67 (equivalent to USD 28.27) million were traded last week in 33,227 deals, which corresponds to a 5% and a 70% increase in volume and value of shares traded, respectively.
Stock price and volume analysis
In terms of volume of shares traded, UNIVINSURE, an insurance company, led other companies for the week with 289.32 million shares traded, followed by ACCESSCORP with 197.01 million and TRANSCORP with 174.07 million shares traded. UNIVINSURE’s lead from the previous week was extended into the week ending.
TOP 10 COMPANIES BY TRADING VOLUME
| COMPANY | VOLUME |
| UNIVINSURE | 289,320,724 |
| ACCESSCORP | 197,012,417 |
| TRANSCORP | 174,075,832 |
| UNITYBNK | 156,546,917 |
| GTCO | 145,683,325 |
| UBA | 113,403,741 |
| VERITASKAP | 110,207,169 |
| FIDELITYBK | 89,412,013 |
| JAIZBANK | 86,037,735 |
| FBNH | 75,110,364 |
Top 10 companies by trading volume (in 100,000 units)
In trading value, GTCO (a leading bank in Nigeria) led other companies with shares worth N5.63 billion (equivalent to USD 7.13 million) traded for the week. GTCO was followed by DANGCEM (Africa’s largest cement-producing company) with N5.52 billion shares (equivalent to USD 7.00) and ACCESSCORP (a leading bank in Nigeria) with N3.54 billion shares (equivalent to USD 4.49 million) traded.
TOP 10 COMPANIES BY TRADING VALUE
| COMPANY | VALUE |
| GTCO | 5,631,535,880 |
| DANGCEM | 5,528,129,295 |
| ACCESSCORP | 3,543,957,511 |
| SEPLAT | 3,045,649,834 |
| MTNN | 2,563,661,864 |
| UBA | 2,416,648,561 |
| ZENITHBANK | 2,007,019,103 |
| FBNH | 1,648,255,737 |
| AIRTELAFRI | 1,593,913,670 |
| TRANSCORP | 1,170,838,463 |
Daily price and volume analysis
Trading for the week started on a high note on Monday, as the highest volume of shares for the week was traded that day. A total of 746.67 million shares were traded on the first day of trading.
Other days couldn’t match this, as the next trading day witnessed a 28% decline in trading volume; 534.62 million shares were traded on Tuesday. On Friday, the last day of trading, 361.12 million shares were traded, which represents a 51% decline compared to the week opener.
In trading volume, N5.95 billion worth of shares were traded on Monday, the first day of trading for the week. On Tuesday, N5.62 billion worth of shares were traded. The highest value of shares for the week was traded on Thursday, when shares worth N10.24 billion were traded.
Friday ended the week on a high note, as shares worth N10.23 billion were traded on that day. Compared to the figures recorded on Monday, there was a 72% increase at closing for the week.
Top 10 stocks that appreciated during the week
| COMPANY | OPEN ( | CLOSE ( | CHANGE (%) |
| CONHALLPLC | 0.5 | 1.26 | 152.00 |
| MECURE | 9.21 | 12.99 | 41.04 |
| NNFM | 28.85 | 36 | 24.78 |
| THOMASWY | 2.08 | 2.5 | 20.19 |
| NSLTECH | 0.55 | 0.64 | 16.36 |
| SUNUASSUR | 1.13 | 1.26 | 11.50 |
| FBNH | 20 | 22.15 | 10.75 |
| SEPLAT | 2100.1 | 2310.1 | 10.00 |
| MEYER | 3.27 | 3.59 | 9.79 |
| NESTLE | 1050 | 1150 | 9.52 |
Top 10 stocks that declined during the week
| COMPANY | OPEN ( | CLOSE ( | CHANGE (%) |
| UNITYBNK | 2.00 | 1.54 | -23.00 |
| DEAPCAP | 0.80 | 0.62 | -22.50 |
| OMATEK | 0.99 | 0.78 | -21.21 |
| GUINEAINS | 0.34 | 0.27 | -20.59 |
| DAARCOMM | 0.39 | 0.31 | -20.51 |
| NEIMETH | 2.23 | 1.87 | -16.14 |
| UACN | 17.9 | 15.25 | -14.80 |
| SOVRENINS | 0.42 | 0.36 | -14.29 |
| WAPIC | 0.74 | 0.65 | -12.16 |
| CAVERTON | 1.59 | 1.41 | -11.32 |
During the course of the week, a budget proposal was presented to the National Assembly by the President. The proposal captures the direction of the nation for fiscal year 2024. It is safe to say that various sectors are dependent on the viability of the budget and how potent it will be in the long run.
The stock exchange market will also be impacted by the budget when it is passed into law. In the coming weeks, various organizations and sectors will begin to make adjustments and policies where necessary to fit into the scheme of things when the budget is passed into law and implementation begins. These will have an effect on the stock exchange market.
Commercial banks experienced an increase in the prices of their stocks this past week. This is coming after the CBN announced plans to recapitalize commercial banks to meet the president’s vision of a trillion-dollar economy by 2030.
Commercial banks like First Bank, Access Bank, and UBA experienced an increase in the price of their stocks. As this plan by the CBN goes into full effect, the stock market is set to benefit as there will be more trades in volume and value.
The market cap of the Nigerian stock exchange currently stands at N39.1 trillion. As major policies and events take place, like the dual listing with the Saudi stock exchange and the recapitalization of commercial banks, a change in the market cap is likely to take place.
The economy in Nigeria may experience a favorable boost with investors and investments increasing on the stock market.
- UNIVINSURE continues its two-week lead as the top company with the highest volume of shares traded.
- GTCO leads other companies with the highest value of shares traded.
- Friday recorded the highest value of shares traded for the week, while Monday recorded the highest volume of shares traded.
- The top 10 companies in volume account for 56% of the total volume of shares traded for the week.
- The top 10 companies in value account for 75% of the total value of shares traded for the week.
Disclaimer Notice: This article is in no way advertising or recommending any stock or company. This is purely for information. The author and www.trendswatch.co will bear no responsibility whatsoever for any decision taken by anyone or any group based on the information gleaned from this article.
Dashboard for Nov 1st to Dec 2nd, 2023
