Stock Market Report: Nigerian Stock Exchange Rises By 0.98%

The All-Share Index rose by 0.89% in the week ending December 16th, 2022, causing the Nigerian stock market to have a positive weekend. This follows a gain of 1.51% the previous week.

This is consistent with the information presented in the weekly stock market report from the Nigerian Exchange Group.

The benchmark index, ASI, increased by 0.89% from the 48,881.93 points it had at the end of the previous week to 49,316.29 index points at the end of the week. The market cap climbed as well, reaching N26.861 trillion by the conclusion of the week.

The Nigerian stock market experiences a loss of 3.48% month-to-date and a gain of 15.45% year-to-date as a result.

Stock market’s performance

The trading floor of The Exchange saw 15,488 transactions involving 814.089 million shares worth N12.204 billion during the course of the week. In comparison, the previous week had 19,305 trades totaling 1.225 billion shares for N15.243 billion.

In terms of share volume traded, the Financial Services Industry dominated the activity chart. In 7,240 transactions, 663.799 million shares were traded for N5.517 billion, contributing 81.54% and 45.21%, respectively, to the total volume and value of stock turnover.

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

With 394.878 million shares changing hands for N2.847 billion in 2,274 transactions, the top three stocks by volume—STERLN, ACCESSCORP, and GTCO—accounted for 48.51% and 23.33%, respectively, of the total equity turnover volume and value.

Similar to this, 3 indexes sank while 16 indexes advanced at the end of the trading week.

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