130412: Bearish sentiments dominate the week; ASI dips by -0.95%
Category: Daily & Weekly Market Updates
Trading activities on the Nigerian bourse closed downbeat after a week of positive outlook as unprofitable transactions dominates market activities in most trading days of the week while the CBN plans monetary easing measures with the hope that it could help moderate the cautious approach to lending by banks and thus further ease credit expansion to the productive sectors of the economy.
Furthermore, the key benchmark indices closed pessimistic by -0.46% to open the first trading day of the week negative as investors return from the Easter break while the second also closed red by -0.15% to maintain negative position for the second successive session as the twin market indicators, NSE ASI & CAP, moved in opposite directions.
The third session closed with a negative outlook by -0.35% as the bears continue to exert their grip on the market with two losers for every gainer recorded
Conversely, trading activities on Friday closed in the positive territory as sentiments turned green. Consequently, the key benchmark indices inches up marginally by +0.01% while market closed the week with aggregate loss of -0.95%.
Further analysis on acquiring banks since transaction date showed that the share price of Access Bank Plc has recorded 11.11% gain, followed by FCMB with 15.38% gain while Union Bank Plc leads the chart with 41.63% gain. However, Sterling Bank recorded -0.79% loss while ETI closed positive with +0.17% gain recorded. See the tracking table below
However, the All-Share Index in the week under review moved down by -0.95% to close at 20,743.16 as against an upbeat by +1.40% recorded last week to close at20,941.93.
In the same vein, the market capitalization in the week depreciated by N26.20 billion (US$174.67 million) to close at N6.61 trillion (US$44.08billion) as against appreciation by N91.79 billion (US$611.99 million) recorded last week to close at N6.64 trillion (US$ 44.26billion).
The total volume traded in the week closed at 1.60 billion units valued at N9.26billion (US$61.76 million) compared with 1.15 billion units valued at N7.81 billion (US$52.06 million) exchanged in 15,156 deals last week. The volume transaction in the week when compared with the previous week data moved down by +38.80% as against downwards movement by -19.92% recorded last week. Weekly value also went up by +18.61% as against negative position of -32.23% recorded last week.
The volume traded in the top ten most traded stocks for the week represented 79.83% of the entire market volume transactions and their total value accounted for 50.87% of the market value.
Conglomerates sector emerged the most traded sector in the week in terms of volume. The volume traded in the sector this week alone closed at 636.76 million units, valued at N396.84million and exchanged in 398 deals compared with 68.79 million units, valued at N83.99million and exchanged in 411 deals in the preceding week. The volume traded in the sector accounted for 39.71% of the entire market compared with 5.95% of the ratio recorded last week.
Transcorp Plc led the market volume for the week to displace Diamond 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.
Financial Services sector followed with 631.56 million units valued at N4.27 billion and exchanged in 8,266 deals compared with 857.98 million units, valued at N4.94billion and exchanged in 8,856 recorded in the sector last week.
NSE All-Share Index opened the week on a negative note with -0.46% loss, bearish sentiments dominated the week while ASI closed positive on Friday by +0.01% with negative market breadth.
In the week under review, four NSE sectoral Indices closed negative as NSE Oil & Gas recorded the highest loss by -5.24% while NSE Food closed with the lowest loss by -0.81%.
Top 10 Gainers of the week
The numbers of gainers in the week closed at twenty-one (21) compared with twenty-eight (28) appreciations recorded last week. Union Bank Plc topped the gainers chart for the week with +20.82% appreciations. Other gainers in the top ten appreciation class are outlined below.
Top 10 Losers of the week
Thirty-three (33) stocks recorded price decline of different magnitude in the week under review compared with thirty-five (35) stocks declined in the previous week. Livestock Feeds Plc topped the losers chart for the week with-12.63% depreciation. Other losers in the top ten classes are outlined below.