THE NIGERIAN STOCK EXCHANGE MARKET REPORT FOR MAY 6th – 10th, 2024
Investors traded a lot more shares last week compared to previous week. They bought and sold a total of 2.19 billion shares last week, which is 12.68% more than the 1.94 billion shares traded the previous week.
The value of those shares also went up significantly. Last week, investors traded 2.187 billion shares worth N50.67 billion in 45,277 deals, which is a whopping 55.24% increase from 1.941 billion stocks valued at N32.644bn that exchanged hands in 35,807 deals in the prior week.
The Financial Services Industry, which includes banks, was the most actively traded sector this week. Investors moved 1.43 billion shares in these companies, making up over two-thirds (65.29%) of all shares traded by volume. In terms of value, the Financial Services Industry was also on top. The total value of shares traded in this sector was N28.85 billion, contributing over half (56.94%) of the total value of all shares traded last week.
Also, the consumer goods industry came in second with 385.661 million shares valued at N9.92 billion in 5,826 deals. The conglomerate’s industry came in third place with 3,271 deals totaling 133.697 million shares valued at N1.715 billion.
Top 3 Most Traded Stocks
Three particular companies were especially popular with investors last week: United Bank for Africa Plc, Nigerian Breweries Plc, and Access Holdings Plc.
Combined, these three companies made up nearly half (46.63%) of all the shares traded by volume (over 1 billion shares) and had a similar contribution (46.64%) to the total value of shares traded (amounting to N23.63 billion).
Source: Nigeria Exchange Group
