050412: Equity Market closes green in the week; inches up by +1.40%
Category: Daily & Weekly Market Updates
Nigerian Stock Market retraced to close positive after a week of negative position as investors gradually begin to engage in value investing while companies continue to hit the market with their audited financials just as Dangote Cement Plc, market leader by capitalisation rewards its shareholders with both cash and bonus dividends
In the same light, the key benchmark indices closed downtick by -0.01% to open the first trading day of the week with a marginal loss as investors’ unrelenting sell pressure which permeated market activities throughout last week continues while the second closed green by +0.96% to halt the seven trading days losing streak as the bulls re-appeared in style amid improved volume turnover.
The third session closed with a positive outlook by +0.41% to maintain the gaining streak for the second successive session as investor continue to engage in value investing.
Conversely, trading activities on Thursday closed in the positive territory to further extend market gains as sentiments remained green. Consequently, the key benchmark indices inches up marginally by +0.04% while market closed the week with aggregate gain of +1.40%.
Further analysis on acquiring banks since transaction date showed that the share price of Access Bank Plc has recorded 27.07% gain, followed by FCMB with 11.54% gain while Union Bank Plc leads the chart with 17.22% gain. However, Sterling Bank recorded -11.81% loss while ETI closed positive with +1.80% gain recorded. See the tracking table below
However, the All-Share Index in the week under review moved up by +1.40% to close at 20,941.93 as against a decline by -2.54% recorded last week to close at21,191.22.
In the same vein, the market capitalization in the week appreciated by N91.79 billion (US$611.99 million) to close at N6.64 trillion (US$44.26billion) as against depreciation by N170.86 billion (US$1.13 billion) recorded last week to close at N6.54 trillion (US$ 43.65billion).
The total volume traded in the week closed at 1.15 billion units valued at N7.81billion (US$52.06 million) compared with 1.44 billion units valued at N11.52 billion (US$76.83 million) exchanged in 18,849 deals last week. The volume transaction in the week when compared with the previous week data moved down by -19.92% as against upwards movement by +42.80% recorded last week. Weekly value also went down by -32.23% as against negative position of -14.56% recorded last week.
The volume traded in the top ten most traded stocks for the week represented 69.71% of the entire market volume transactions and their total value accounted for 55.41% 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 857.98 million units, valued at N4.94billion and exchanged in 8,856 deals compared with 1.12 billion units, valued at N7.03billion and exchanged in 10,896 deals in the preceding week. The volume traded in the sector accounted for 74.26% of the entire market compared with 78.05% of the ratio recorded last week.
Diamond Bank Plc led the market volume for the week to displace Zenith 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.
Natural Resources sector followed with 70.54 million units valued at N35.54 million and exchanged in 13 deals compared with 5.52 million units valued at N2.88 million and exchanged in 17 deals recorded in the sector last week.
NSE All-Share Index opened the week on a negative note with -0.01% loss, bullish sentiments dominated the week while ASI closed positive on Friday by +0.05% with negative market breadth.
In the week under review, three NSE sectoral Indices closed positive as NSE Banking recorded the highest gain by +3.51% while NSE Insurance closed with the lowest gain by +1.32%.
Top 10 Gainers of the week
The numbers of gainers in the week closed at twenty-nine (28) compared with twenty-five (25) appreciations recorded last week. AG Leventis Plc topped the gainers chart for the week with +19.84% appreciations. Other gainers in the top ten appreciation class are outlined below.
Top 10 Losers of the week
Thirty-five (35) stocks recorded price decline of different magnitude in the week under review compared with thirty-nine (39) stocks declined in the previous week. Japaul Oil Plc topped the losers chart for the week with-16.42% depreciation. Other losers in the top ten classes are outlined below