Weekly Stock Market Report: The Nigerian Stock Exchange rises by 6.88%

• The Nigerian Stock Exchange rises by 6.88%
• Performance of the stock market

The All-Share Index increased by 6.88% as of Friday, November 25, 2022, causing the Nigerian stock market to end the week in a positive position.

According to the Nigerian Exchange Group’s weekly stock market report, which RNN has access to. The growth this week follows the 1.22% growth seen the week before.

The main ASI index rose 6.88% from 44,492 points last week to 47,554.34 points this week’s end. The market capitalization, meanwhile, followed suit and ended the day at N25.902 trillion.

The Nigerian stock market has experienced positive month-to-date performance of 8.47%, and positive year-to-date performance of 11.33%.

Performance of the stock market

Over the course of the week, 16,662 deals totaling 711.618 million shares worth N15.338 billion were completed. This is more than the 694.376 million shares worth N8.667 billion that were traded in 15,418 deals over the previous week.

With 461.230 million shares valued at N3.697 billion moved in 7,653 deals, the Financial Services Industry again topped the activity list in terms of volume. The overall volume and value of equity turnover were respectively boosted by 64.81% and 24.10% by this.

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

With a turnover of 99.881 million shares worth N139.213 million in 582 deals, the Conglomerates Industry came in second, while the ICT Industry came in third with a turnover of 37.953 million shares worth N7.577 billion in 1,050 deals.

Trading activity in the top three stocks by volume, TRANSCORP, AIICO, and ZENITHBANK, totaled 194.600 million shares worth N1.191 billion in 1,974 deals, contributing 27.35% and 7.76%, respectively, to the overall equity turnover volume and value. In a similar vein, 15 indexes ended the day higher, while only two indexes—NGX ASeM and Growth Indexes—saw gains.

TOP GAINERS 

• NB up + 18.67% to close at N48.95
• SOVRENINS up + 16.67% to close at N0.28
• PRESTIGE up + 16.22% to close at N0.43
• CORNERST up + 15.91% to close at N0.51
• AIRTELAFRICA up + 14.17to close at N1,450.00

TOP LOSERS 

• NESTLE down – 20.67% to close at N251.10
• CAPHOTEL down – 10.00% to close at N0.34
• S C O A down – 9.30% to close at N0.12
• CWG down – 9.09% to close at N0.08
• ROYALEX down – 8.97% to close at N0.07

Summary

The number of stocks that increased throughout the week was 49, up from 31 stocks the week before. Nineteen (19) stocks declined less than thirty-three (33) in the week before, while eighty-nine (89) stocks stayed steady, which was less than the ninety-three (93) stocks that were recorded in the week before.