In the dynamic realm of the Nigerian stock market, the week culminating on December 8th showcased a compelling narrative of financial activity. A staggering total of 2.42 billion shares, commanding a value of N45.07 billion (equivalent to a robust USD 56.09 million), exchanged hands in 34,702 deals. This week’s trading volume witnessed a nuanced ebb, while the value of traded shares experienced a notable surge.
Contrasting with the previous week’s performance, which saw the exchange of 2.54 billion shares valued at N38.64 billion (equivalent to USD 48.98 million) in 36,138 deals, the current week presents a 5% decline in trading volume.
However, a striking 14% upswing graces the value of shares traded, marking a captivating divergence in market dynamics. The intricacies of this week’s fluctuations beckon an exploration into the market forces shaping this captivating financial landscape.
Stock price and volume analysis
UNIVINSURE led other companies in the volume of shares traded for this week, in a three-week leading streak. They traded 193 million shares during the trading week. They were followed by UBA and GTCO with 186 million and 163 million shares traded respectively for the week.
TOP TEN COMPANIES BY TRADING VOLUME
| COMPANY | VOLUME |
| UNIVINSURE | 193,300,358.0 |
| UBA | 186,059,164.0 |
| GTCO | 163,955,943.0 |
| VERITASKAP | 142,232,612.0 |
| ACCESSCORP | 140,664,042.0 |
| FIDELITYBK | 126,687,159.0 |
| ZENITHBANK | 120,864,196.0 |
| UACN | 114,172,837.0 |
| TRANSCORP | 84,825,322.0 |
| REGALINS | 81,613,407.0 |
In trading value, Airtel led other companies for the week with a total of N7.41 billion (equivalent to USD 9.2 million) worth of shares traded. GTCO and Zenith Bank come next with N6.5 billion (equivalent to USD 8.05 million) and N4.3 billion (USD 5.30 million) respectively. GTCO was displaced from the top spot to second, as the company with the largest value of shares sold from last week.
TOP 10 COMPANIES BY TRADING VALUE
| COMPANY | VALUE |
| AIRTELAFRI | 7,409,302,041.70 |
| GTCO | 6,467,816,257.85 |
| ZENITHBANK | 4,260,145,138.80 |
| UBA | 4,056,831,235.35 |
| ACCESSCORP | 2,843,095,242.35 |
| NIDF | 2,657,795,747.90 |
| MTNN | 2,564,256,804.70 |
| NB | 2,495,116,452.15 |
| FBNH | 1,784,905,739.55 |
| UACN | 1,752,621,183.10 |
Daily price and volume analysis
In trading volume, the highest volume of shares was traded on Wednesday, with 690 million shares traded on that day. Friday the last day of the trading week recorded the second-highest volume of shares traded daily for the week; 503 million shares were traded. Thursday and Tuesday come next with 436 million and 433 million respectively.
In trading value, Wednesday recorded the highest value of shares traded for the week (Wednesday recorded the highest volume and value of shares traded for the week). N12.10 billion (equivalent to USD 15.06 million) worth of shares were traded on Wednesday.
Tuesday recorded the second highest value of shares traded for the week with N11.11 billion (equivalent to USD 13.82 million) shares traded. Thursday and Friday come next with N7.55 billion (USD 9.39 million) and N7.21 billion (USD 8.97 million).
Daily value of shares traded (in 1,000,000 units)
Daily volume and value trend
| COMPANY | OPEN ( | CLOSE ( | CHANGE (%) |
| MULTIVERSE MINING AND EXPLORATION PLC | 5.98 | 9.39 | 57.02 |
| THOMAS WYATT NIG. PLC. | 2.50 | 3.32 | 32.80 |
| INFINITY TRUST MORTGAGE BANK PLC | 1.34 | 1.77 | 32.09 |
| ECOBANK TRANSNATIONAL INCORPORATED | 17.10 | 20.75 | 21.35 |
| SECURE ELECTRONIC TECHNOLOGY PLC | 0.64 | 0.75 | 17.19 |
| DAAR COMMUNICATIONS PLC | 0.31 | 0.36 | 16.13 |
| CAVERTON OFFSHORE SUPPORT GRP PLC | 1.41 | 1.60 | 13.48 |
| UPDC REAL ESTATE INVESTMENT TRUST | 4.45 | 5.00 | 12.36 |
| ACCESS HOLDINGS PLC | 18.05 | 20.25 | 12.19 |
| P Z CUSSONS NIGERIA PLC. | 22.90 | 25.60 | 11.79 |
| COMPANY | OPEN ( | CLOSE ( | CHANGE (%) |
| CONSOLIDATED HALLMARK HOLDINGS PLC | 1.26 | 1.10 | -12.70 |
| OANDO PLC | 11.80 | 10.35 | -12.29 |
| ABBEY MORTGAGE BANK PLC | 1.72 | 1.54 | -10.47 |
| MRS OIL NIGERIA PLC. | 109.95 | 99.00 | -9.96 |
| TANTALIZERS PLC | 0.52 | 0.47 | -9.62 |
| UNITY BANK PLC | 1.54 | 1.40 | -9.09 |
| JULI PLC. | 0.79 | 0.72 | -8.86 |
| E-TRANZACT INTERNATIONAL PLC | 7.10 | 6.50 | -8.45 |
| MCNICHOLS PLC | 0.75 | 0.69 | -8.00 |
| BUA CEMENT PLC | 104.00 | 96.50 | -7.21 |
Recently Proctor and Gamble a manufacturing company announced plans to cease operations in Nigeria. The P & G company joined the list of companies that have announced intentions to cease operations. Notable among them is GSK, a pharmaceutical company listed on the Nigerian stock exchange.
The withdrawal of on-ground operations by these companies in Nigeria will cause a reduction in available liquidity on the stock exchange; further impact on the exchange may occur. The availability of FOREX has been touted as one of the reasons for their withdrawal.
The value of the Naira against the dollar continues to plummet amidst the increasing inflation rate and rise in the price of consumer goods and commodities. The naira/dollar situation will in the long run impact on the stock exchange market as evidenced by multinationals exiting the Nigerian landscape.
With events like the recapitalization of banks and the signing into law of the budget on the horizon, there is hope that the stock exchange market will receive some required boost as investors seek to do business in a healthy economy and stock market.
- UNIVINSURE continues its three-week lead as the top company with the highest volume of shares traded.
- AIRTEL leads other companies with the highest value of shares traded.
- Wednesday recorded the highest volume and value of shares traded for the week.
- The top 10 companies in volume account for 60% of the total volume of shares traded for the week.
- The top 10 companies in value account for 81% of the total value of shares traded for the week.
Disclaimer Notice: This article does not advertise or recommend 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.
