Weekly Stock Market Report: The Nigerian Stock Exchange rises by 1.22%

As of the end of trading on November 18, 2022, the All-Share Index had increased by 1.22%, which led to a bullish weekend for the Nigerian stock market. This comes after the 0.68% growth saw the week before.

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

The benchmark ASI index rose 1.22% from the 43,956.76 points it had at the conclusion of the previous week to close the week at 44,492.73 index points. The market capitalization also increased, ending the week at N23.234 trillion.
This brings the Nigerian stock market’s month-to-date performance to 1.49% and its year-to-date gain to 4.16%.

Performance of the stock market

On The Exchange’s floor, 15,418 transactions totaling 694.376 million shares worth N8.667 billion were made during the course of the week. This is more than the 1,101 billion shares worth N11.714 billion that were traded in 15,697 transactions the week prior.

READ MORE: Weekly Stock Market Report: The Nigerian Exchange falls by 1.09%

Similar to the previous week, the Financial Services Industry topped the activity chart in terms of share volume traded, with 487.150 million shares worth N4.229 billion traded in 7,527 deals, accounting for 70.16% and 48.80%, respectively, of the total stock turnover volume and value.

The Consumer Goods Industry came in third with a turnover of 40.042 million shares worth N1.243 billion in 2,713 trades, while the Conglomerates Industry came in second with 61.896 million shares worth N77.471 million in 396 deals.

The top three stocks by volume, ACCESS CORP, TRANS CORP, and FIDELITYBK, saw a trading volume of 232.923 million shares valued at N1.237 billion in 1,316 deals, contributing 33.54% and 14.27%, respectively, to the total equity turnover volume and value.

With the exception of the NGX ASeM Index, NGX Growth Index, and NGX Sovereign Bond, which remained constant, 5 indexes closed worse overall while 11 indexes rose.

Top Gainers

• AXAMANSARD up + 15.69% to close at N1.77
• UBN is up + 13.04% to close at N6.50
• GTCO is up + 10.83% to close at N19.45
• NB is up + 10.29% to close at N41.25
• UNILEVER up + 10.00% to close at N11.00

Top Losers

• SCOA down – 26.29% to close at N1.29
• GUINNESS NIG down – 18.96% to close at N60.50
• REGALINS down – 14.81% to close at N0.23
• UNITY BANK down – 12.28% to close at N0.50
• ROYALEX is down – 11.36% to close at N0.88

Summary

Thirty-one (31) stocks saw gains during the week, compared to twenty-seven (27) stocks the week before. Thirty-three (33) stocks declined less than the thirty-six (36) stocks that were recorded the week before, while ninety-three (93) stocks stayed unchanged, which was less than the ninety-four (94) stocks that were reported the week before.