Zenith & GT Banks lead the most traded equities for November

Zenith & Guaranty Trust Bank leads the premium board of the most traded equities quoted on the Nigeria Stock Exchange for the month of November. Figures show that for:

Zenith Bank Plc

  • 3,860,645,425.82 trillion naira was traded
  • 154,765,353 million shares exchanged in
  • 1312 deals with a closing price of
  • 24.93 naira per share

Guaranty Trust Bank Plc

  • 1,542,395,559.13 trillion naira was traded
  • 36,337,857 million shares exchanged in
  • 846 deals with a closing price of
  • 43 naira per share

First Bank Holdings Plc

  • 1,152,831,182.06 trillion naira was traded
  • 164,555,503 million shares exchanged in
  • 1,548 deals with a closing price of
  • 7.14 naira per share

Dangote Cement Plc

  • 1,498,871,002.32 trillion naira was traded
  • 6,227,594 million shares exchanged in
  • 125 deals with a closing price of
  • 245 naira per share

For the week closing the 30th November, Fidelity Bank led the list of top gainers with a 21.18% change that translates to 0.36 kobo with a closing price of 2.06 naira per share from an opening price of 1.70 naira per share, while 11Plc led the list of top losers -6.09% loss that translates to -10.35 naira closing at 159.65 naira from an opening price of 170.00 per share.

Sim Capital Alliance Value Fund released their full year audited statement ending June 2017, Universal Insurance Company Plc released their full year audited statement ending December 2016. UPDC Real Estate Investment Trust released their third quarter unaudited statement ending September 2017 while Cutix Plc released their 2nd quarter unaudited statement ending October 2017.

Kelvin Emmanuel

About Kelvin Emmanuel

The Oil producing Angola in the Southern part of Africa faces what Nigeria faced 12months ago; a distortion in its exchange rate with a difference between the official markets and the parallel black markets. One dollar through the official window buys you 166 kwanza, while one dollar through the black market buys you 400 kwanza. Nigeria faced the same challenge 12months ago, when the distortion between the official and black markets was as much as the official markets trading at 306 with the parallel market ranging from 450 through to 510. The Central Bank Governor of Angola, Jose de Massano Junior announced in Luanda “We will stop having a fixed foreign exchange, we will adopt a floating regime of foreign exchange”. Angola faces exactly the same challenges and has been applying the exact same responses to an exchange rate crisis like using its foreign reserves that was sitting at $26bn to defend the currency kwanza, with no success so far, even though the external reserves has dropped to $14bn. Angola relies on Oil receipts for 80% of its government revenue, 90% of its inflow and 50% of its GDP. Angola is a $194bn economy that has been growing at an average of 10% on the back of rising oil prices since 2002 when its 27 year old civil war that started in 1975 ended. The state national oil company Sonangol reports that it produces up to 1.8m barrels of crude oil daily, however the government that until now has being led by the family dynasty Jose Eduardo dos Santos until recently when succession saw power transferred to Joao Lourenco, reports that the oil price rout in 2015/2016 that saw prices drop to as low as $28 per barrel caused ripples across the economic structures of the government, upsetting government revenues, its ability to fund its budget, capital project funding, foreign direct investments into the economy as a result of a currency crisis that was driven by the widening of gap between the official and street window of the kwanza, that until now has been pegged in a fixed exchange rate regime to the US Dollar.