230312: NSE Index inches up by +1.76% in the week; JBerger Plc rewards investors with N2.40k div.
Category: Daily & Weekly Market Updates
Nigerian Stock Market closed positive in the week after recording a negative outlook in the previous week as market witnessed renewed bargain activities in most trading days while Nigeria's central bank kept its base interest rate on hold at 12% for the third time in a row after its Tuesday Monetary Policy Committee meeting.
In the same light, the key benchmark indices maintained uptrend by 1.13% to open the first trading day of the week positive due to intense bargain activities while the second closed with the bears as the twin market indicators, NSE ASI & CAP, moved in opposite directions with Index shedding -53.91 basis points while market CAP garnered N15.65bn.
The third session erased previous loss after a day of negative position due to renewed bargain activities with ASI recording +0.29% gain while the fourth session maintained uptrend by +0.92% as market witnessed continuous bargain activities.
Conversely, trading activities on Friday closed southwards as the bears re-surfaced. Consequently, the key benchmark indices dipped by -0.33% while market closed the week with aggregate gain of +1.76%.
Further analysis on acquiring banks since transaction date showed that the share price of Access Bank Plc has recorded 33.54% gain, followed by FCMB recorded 12.82% while Union Bank Plc leads the chart with 66.51% gain which was significantly impacted by the recent share reconstruction. However, Sterling Bank and ETI recorded -10.24% and -5.74% loss respectively. See the tracking table below
However, the All-Share Index in the week under review moved up by +1.76% to close at 21,191.22 as against a decline by -0.60% recorded last week to close at20,824.25.
In the same vein, the market capitalization in the week appreciated by N148.76 billion (US$991.78 million) to close at N6.72 trillion (US$44.78billion) as against depreciation by N39.69 billion (US$264.60 million) recorded last week to close at N6.57 trillion (US$ 43.79billion).
The total volume traded in the week closed at 1.01 billion units valued at N13.49billion (US$89.91 million) compared with 1.97 billion units valued at N18.94 billion (US$126.27 million) exchanged in 18,651 deals last week. The volume transaction in the week when compared with the previous week data moved down by -48.83% as against upwards movement by +2.64% recorded last week. Weekly value also went down by -28.79% as against positive position of +13.59% recorded last week.
The volume traded in the top ten most traded stocks for the week represented 68.40% of the entire market volume transactions and their total value accounted for 78.85% 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 758.09 million units, valued at N5.08billion and exchanged in 8,994 deals compared with 1.57 billion units, valued at N7.52billion and exchanged in 11,244 deals in the preceding week. The volume traded in the sector accounted for 75.03% of the entire market compared with 79.95% of the ratio recorded last week.
Zenith Bank Plc led the market volume for the week to displace Sterling Bank Plc as 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 118.63 million units valued at N7.29 billion and exchanged in 2,836 deals compared with 139.68 million units valued at N10.18 billion and exchanged in 3,576 deals recorded in the sector last week.
NSE All-Share Index opened the week on a positive note with +1.13% gain, bullish sentiments dominated the week while ASI closed negative on Friday by -0.33% loss with positive market breadth.
In the week under review, four NSE sectoral Indices closed positive as NSE banking recorded the highest gain by +4.08% while NSE Oil closed with the lowest gain by +0.86%.
Top 10 Gainers of the week
The numbers of gainers in the week closed at thirty-seven (37) compared with twenty-one (21) appreciations recorded last week. Paints & Coating Manufactures Plc topped the gainers chart for the week with +23.19% appreciations. Other gainers in the top ten appreciation class are outlined below.
Top 10 Losers of the week
Twenty-four (24) stocks recorded price decline of different magnitude in the week under review compared with forty-three (43) stocks declined in the previous week. Union Bank Plc topped the losers chart for the week with-22.32% depreciation. Other losers in the top ten classes are outlined below.