The Nigerian stock exchange experienced an increase of 4.4% in trading value, 11% trading in volume, and 1% in the number of deals from last week. This increase is due to factors like the presidential tribunal judgment, major banks experiencing high rates in trading values and volumes, and a general feeling of security from investors.
The Nigerian Stock Exchange market experienced a downtrend in the general run. The downtrend in the market was due to profit-taking by investors, as well as concerns over the global economic outlook. There were a total of 44,654 deals. A total of 2,932,706,367 shares, worth N47, 449,155,576 were traded this week. The stock market was majorly volatile with high and low spikes. UBA experienced both high trading value (8,230,188,163) and volume (529,595,835) this past week. UBA accounted for 18.06% and 17.4% of the total weekly volume and value respectively.
Top 10 Companies by Volume of Shares traded for the week
Top 10 Companies by value of shares traded for the week
The banking sector contributed a huge chunk to both the amount of shares traded and the value of the shares traded. Factors that contributed to this include the end of the financial quarter in Nigeria, an increase in foreign investment, and payments of dividends in the coming weeks. The banking sector accounted for 66.7% of the total shares traded and 55.61% in value of the total shares traded. Another major player was the oil and gas industry contributing 9% of the total number of shares and 11.2% of the total value of shares traded.
Daily trading value of shares (Figures have been divided by 1,000,000)
The daily trading volume of shares
TOP TEN GAINERS
| Company | Open | Close | Gain |
| OANDO PLC | 7.70 | 11.00 | 3.30 |
| CHELLARAMS PLC | 2.90 | 3.85 | 0.95 |
| CWG PLC | 5.78 | 7.50 | 1.72 |
| CORNERSTONE INSURANCE PLC | 1.24 | 1.40 | 0.16 |
| NIG FLOUR MILLS PLC | 12.05 | 13.50 | 1.45 |
| VITAFOAM NIG PLC | 22.50 | 24.70 | 2.20 |
| CAVERTON OFFSHORE SUPPORT GRP PLC | 1.29 | 1.41 | 0.12 |
| JOHN HOLT PLC | 1.31 | 1.43 | 0.12 |
| UNITED CAPITAL PLC | 15.90 | 17.30 | 1.40 |
| TRANSCORP HOTELS PLC | 41.50 | 44.90 | 3.40 |
TOP TEN LOSERS
| Company | Open | Close | Loss |
| ASSOCIATED BUS COMPANY PLC | 1.13 | 0.75 | -0.38 |
| OMATEK VENTURES PLC | 0.58 | 0.40 | -0.18 |
| E-TRANZACT INTERNATIONAL PLC | 10.00 | 7.35 | -2.65 |
| GUINEA INSURANCE PLC | 0.36 | 0.29 | -0.07 |
| TANTALIZERS PLC | 0.46 | 0.38 | -0.08 |
| ACADEMY PRESS PLC | 2.24 | 1.88 | -0.36 |
| LEARN AFRICA PLC | 3.90 | 3.31 | -0.59 |
| REGENCY ASSURANCE PLC | 0.40 | 0.35 | -0.05 |
| LASACO ASSURANCE PLC | 2.16 | 1.92 | -0.24 |
| DANGOTE SUGAR REFINERY PLC | 64.15 | 57.20 | -6.95 |
The following factors could influence the Nigerian Stock exchange market in the near future:
- The economic policies and strategies of the government.
- The general performance of global stock markets
- The price of crude oil
- Number of foreign investors and trade.
Investors are watching out for significant effects of government policies on the general economic landscape. The expectations are mixed, ranging from high optimism to negative predictions as to how the economy will pick up and stabilises. The high rate of inflation has also served to dampen expectations of bliss from some quarters. The coming weeks will no doubt have significant effects on the market. The presidential election tribunals at the Supreme Court, foreign exchange, rate of inflation, the Naira exchange rate, and foreign exchange are some factors to watch out for in the coming weeks.
Trading value and volume for September 4th to September 15th, 2023
