100212: All-Share Index drops by -1.22% as unprofitable transactions dominate the week.
Category: Daily & Weekly Market Updates
Trading activities end in the negative territory for the second week running as the bears rules throughout all sessions due to continuous sell pressure while investors await corporate announcements from top performing banks which may attract more patronage to the equity market.
Furthermore, trading activities on the Nigerian bourseretraced on Tuesday to open the first trading day of the week after the Eid-El-Maoulud celebration pessimistic as the bears re-surfaced.
Equity market closed red on Wednesday due to continuous sell pressure while NSE slides on Thursday as market outlook closed depressed amid low volume turnover and Naira votes.
Subsequently, market maintained downtrend on Friday as continuous selling activities further impacted market outlook negatively while trading closed with aggregate loss for the week.
In the same light, the key benchmark indices slides by -0.41% to open the first session downbeat due to renewed selling activities. The second session maintains previous negative position while NSE Index dips further by -0.48%.
Nigerian stocks sustain southwards movement as small Cap stocks predominantly contributed to the downtrend while index plummeted by -0.30% to end the third session in the red zone.
Consequently, continuous selling activities witnessed on Friday further impacted market outlook negatively to close the session with -0.04% loss while All Share Index closed with -1.22% aggregate loss for the week.
Further analysis on acquiring banks showed that the share price of Access Bank Plc closed positive with +6.16% gain recorded in the week, ETI Plc moved southwards by -4.49% as FCMB Plc also moved in the same direction with -4.53%, Sterling Bank Plc closed positive with -1.19% gain while Union Bank Plc closed negative with -4.97% loss recorded. See the tracking table below
However, the All-Share Index in the week under review dips by -1.22% to close at 20,623.63 as against a decline by -0.07% recorded last week to close at20,877.64.
In the same vein, the market capitalization in the week depreciated by N80.05 billion (US$533.69million) to close at N6.49 trillion (US$43.31billion) as against depreciation by N4.73 billion (US$31.55million) recorded last week to close at N6.57 trillion (US$ 43.84billion).
The total volume traded in the week closed at 1.34 billion units valued at N7.00 billion (US$46.70 million) compared with 1.61 billion units valued at N15.10 billion (US$100.69 million) exchanged in 17,458 deals last week. The volume transaction in the week when compared with the previous week data moved down by -16.81% as against upwards movement by +21.91% recorded last week. Weekly value also went down by -53.62% as against positive position of +49.91% recorded last week.
The volume traded in the top ten most traded stocks for the week represented 71.40% of the entire market volume transactions and their total value accounted for 52.46% of the market value.
Financial Services sector emerged the most traded sector in the week in terms of volume. The volume traded in the sector this week alone closed at 1.12 billion units, valued at N3.98billion and exchanged in 8,371 deals compared with 1.19 billion units, valued at N4.43billion and exchanged in 9,931 deals in the preceding week. The volume traded in the sector accounted for 84.00% of the entire market compared with 74.34% of the ratio recorded last week.
UBA Plc led the market volume for the week just as it also top traded stock on the transaction volume chart last week.
The sector’s volume transaction was mainly boosted by trading in the shares of the companies in the top-ten category.
Consumer Goods sector followed with 70.37 million units valued at N2.14 billion and exchanged in 3,027 deals compared with 126.63 million units valued at N4.53 billion and exchanged in 3,427 deals recorded in the sector last week.
NSE All-Share Index opened the week on a negative note with -0.41% loss, bearishsentiments dominated the week as ASI closed negative on Friday by -0.04% loss with negative market breadth.
In the week under review, three NSE sectoral Indices closed negative as NSE Insurance recorded the highest loss by -4.59% while NSE 30 closed with the lowest loss by -1.20%.
Top 10 Gainers of the week
The numbers of gainers in the week closed at nineteen (19) compared with twenty-seven (27) appreciations recorded last week. Eterna Oil Plc topped the gainers chart for the week with +14.81% appreciations. Other gainers in the top ten appreciation class are outlined below.
Top 10 Losers of the week
Forty-two (42) stocks recorded price decline of different magnitude in the week under review compared with forty-one (41) stocks declined in the previous week. Japaul Oil Plc topped the losers chart for the week with-15.85% depreciation. Other losers in the top ten classes are outlined below.