Weekly Stock Market Report: The Nigerian Stock Exchange rises by 0.98%

The All-Share Index increased by 0.89% in the week ending December 16th, 2022, leading to a bullish weekend for the Nigerian stock market. This comes after the previous week’s 1.51% gain.

This is in accordance with the data shown in the Nigerian Exchange Group’s weekly stock market report.

The benchmark index, ASI, gained 0.89% from the 48,881.93 points it had at the conclusion of the previous week to conclude the week at 49,316.29 index points. The market capitalization also increased, ending the week at N26.861 trillion.

This results in a negative 3.48% month-to-date performance and a 15.45% year-to-date gain for the Nigerian stock market.

Performance of the stock market

Over the course of the week, 15,488 transactions involving 814.089 million shares worth N12.204 billion were completed on The Exchange’s trading floor. This is more than the 19,305 transactions for 1.225 billion shares valued at N15.243 billion that took place the week prior.

The Financial Services Industry dominated the activity chart in terms of share volume traded, trading 663.799 million shares for N5.517 billion in 7,240 deals, which contributed 81.54% and 45.21%, respectively, to the overall stock turnover volume and value.

The Consumer Goods sector came in third with a turnover of 27.372 million shares worth N1.187 billion in 3,051 trades, followed by the ICT sector with 44.358 million shares worth N4.493 million in 1,136 deals.

The top three stocks by volume, STERLN, ACCESSCORP, and GTCO, had 394.878 million shares traded for N2.847 billion in 2,274 deals, making up 48.51% and 23.33%, respectively, of the total equity turnover volume and value.

Similar to this, 16 indexes ended the trading week ahead while 3 indexes declined.

Top Gainers 

• LEARNAFRCA up + 28.48% to close at N2.12
• THOMASWY up + 18.75% to close at N0.57
• CORNERSTONE up + 13.04% to close at N0.52
• WAPIC up + 10.81% to close at N0.41
• SMURFIT up + 10.00% to close at N0.22

Top Losers 

• MCNICHOLS PLC down – 11.48% to close at N0.54
• ACADEMY PRESS down – 9.70% to close at N1.21
• PRESTIGE down – 8.70% to close at N0.42
• MULTIVERSE down – 8.51% to close at N3.98
• AXAMANSARD down – 8.04% to close at N1.83

Summary

The week saw a greater increase in thirty-two (32) stocks than in thirty-one (31) the week before. Ninety-seven (97) stocks stayed steady, down from one hundred (100) stocks recorded the week before, while twenty-eight (28) stocks declined at a price greater than twenty-six (26) in the previous week.

READ MORE: Weekly Stock Market Report: The Nigerian Stock Exchange rises by 1.51%