220710: Julius Berger, RT Briscoe, others declare results: PZ tops gainers as ASI gains 0.37%
Category: Daily & Weekly Market Updates
Equity market at the close of trading session sustained its uptrend as positive outlook which resumed on Tuesday entered three trading days in a row. market capitalisation which measures the market value of quoted stocks on the Nigerian Stock Exchange (NSE) appreciated by N70.563 billion (US$471.364 million) in the three days.
In the same vein, the NSE All-Share Index which is used to gauge market performance recorded aggregate growth of +1.17% to close at 25,056.07, after appreciating by +0.37% at the close of trading session.
The upbeat recorded in the market today was boosted mainly by transactions in the banking and Conglomerate sectors, as other NSE sectoral indexes recorded depreciations of different magnitude.
Declines in these sectors could be as a result of profit takings by the investors from the previous rallies. This further confirms our view in our previous day’s market report that as market continues to post different growth rates, there would be in between sell pressures as investors take profit. (http://www.proshareng.com/news/singleNews.php?id=11461)
Transactions volume on the Nigerian Stock Exchange closed higher of the previous day’s figures, driving mainly by transactions in the shares of banking stocks. In the same vein, market value rose very significantly above the figures recorded at the close of trading session yesterday.
As usual, banking sector led the market transaction volume today with 379.609 million units valued at N2.565 billion (US$17.134 million) exchanged in 3,284 deals. Transactions in the shares of Diamond Bank Plc, FinbanK Plc, Zenith Bank Plc and First Bank Nigeria Plc boosted the volume traded in the sector. The total volume of 272.168 million units valued at N1.851 billion traded in the shares of the four banks accounted for 71.70% of the entire sector volume and their value represented 72.16% of the sector’s value.
The number of gainers at the close of trading session closed at thirty four (34) compared with forty two (42) gainers recorded on Wednesday, while decliners closed at thirty two (32) compared with twenty (20) losers recorded in the last trading day. Market closed with 1.06:1 advancers to decliners’ ratio.
At the close of trading session, the All-Share Index inched up by +0.37% to close at 25,056.07 compared with appreciation by +0.72% recorded yesterday to close at 24,963.99. Market capitalisation also appreciated by N22.521 billion (US$150.439 million) to close at N6.127 trillion (US$40.934 billion) compared with appreciation by N43.467 billion (US$290.363 million) recorded yesterday to close at N6.105 trillion (US$40.784 billion
Bears gained upper hand in the Agriculture sector at the close of trading session as the transactions in the sector closed with three losers to a gainer compared with one gainer to a loser recorded yesterday.
A transaction in the Air Service sector was at low ebb at the close of trading session as all the stocks traded in the sector closed at their previous closed prices.
Positive outlook is sustained in the banking sector for the third trading day in a row as bears’ hold in the sector remained insignificant. Transactions in the sector closed with thirteen gainers to five losers compared with fifteen gainers to four losers recorded yesterday.
The bulls influence in the Breweries sector was over powered by the bearish trend as the only price change recorded was on the negative note, a repeat of yesterday’s trend.
The bulls and bears were at loggerheads for control in the in the building materials sector as transactions in the sector closed with two gainers to two losers compared with one gainer to one loser recorded yesterday.
Performance of stocks in the Conglomerate sector at the close of trading session recorded improvement over the previous day’s trend as transactions closed in the sector with all the price changes recorded being in the positive compared with a loser recorded yesterday.
The performance of shares in the Construction sector improved relatively today as transactions in the sector closed with a gainer compared with a massive loser recorded yesterday.
The number of gainers in the Food & Beverages sector declined to four compared with seven gainers recorded yesterday while the number of losers closed at three, a repeat of the previous day’s losers figures. Stocks in the sector also present buy opportunities for discerning investors.
The rate of volatility remains in the insurance sector; transactions in the sector closed with five losers to three gainers compared with six gainers to four losers recorded yesterday.
The outlook of Petroleum marketing sector closed on a bearish note as transactions in the sector closed with three massive decliners to a marginal gainer compared with one loser recorded yesterday.
The total transaction volume at the close of market session today inched up by +37.76% to close at 475.789 million units exchanged in 6,266 deals compared with volume growth by +29.61% recorded on Wednesday to close at 347.897 million units exchanged in 6,594 deals.
In the same vein, market value inched up by +60.14% to close at N3.530 billion (US$23.582 million) as against valued decline by -6.26% recorded yesterday to close at N2.204 billion (US$14.725 billion). PZ Nigeria Plc topped the gainers chart for the day with price appreciation by +4.99%. However, Mobil Nigeria Plc topped the losers chart for the day with –5% price depreciations.
The total volume traded in the shares of top five trades at the close of trading session stood at 292.634 million units valued at N1.862 billion (US$12.435 million) exchanged in 1,508 deals. The volume and value of the top five trades for the day accounted for 61.50% and 53.73% of the market volume and value in that other.