040512: All-Share Index inches up by +2.52% in the week; sentiments remain unchanged.
Category: Daily & Weekly Market Updates
Nigerian Stock Market sustained uptrend for the third week in a row just as profitable transactions continued to permeate the Nigerian bourse amid unrelenting bargain activities while the Exchangenotified all quoted companies that the 1st Quarter Financial Statements for 2012 is expected to be IFRS Compliant as Statements that do not meet with statutory requirement will not be recognized as appropriately filed and will not be presented to the market.
Furthermore, the key benchmark indices maintained downtrend by -0.29% to open the first trading day of the week negative as sell pressure outweighed bargain hunting in some sectors across the main board while market retraced in the second session to close in the positive territory by +1.39% as market breadth closed very impressive.
The bulls continue to dominate market activities as bargain hunting continued to outweigh sell pressure in the third session just as NSE ASI firms up by +0.84% to maintain northwards movement as market YTD performance stands at +8.72%.
Conversely, trading activities on Friday closed northwards as sentiments remained positive. Consequently, the key benchmark indices inches up by +0.57% while market closed the week with aggregate gain of +2.52%.
Further analysis on acquiring banks since transaction date showed that the share price of Access Bank Plc has recorded 36.97% gain, followed by FCMB with 43.08% gain while Union Bank Plc leads the chart with 108.61% gain. However, Sterling Bank recorded -2.36% loss while ETI closed positive with +0.26% gain recorded. See the tracking table below
However, the All-Share Index in the week under review moved up by +2.52% to close at 22,665.99 as against an upbeat by +1.62% recorded last week to close at22,109.44.
In the same vein, the market capitalization in the week appreciated by N177.49 billion (US$1.18 billion) to close at N7.22 trillion (US$48.17billion) as against appreciation by N112.55 billion (US$750.37 million) recorded last week to close at N7.05 trillion (US$ 46.99billion).
The total volume traded in the week closed at 2.44 billion units valued at N20.74billion (US$138.23 million) compared with 1.96 billion units valued at N17.23 billion (US$114.87 million) exchanged in 23,547 deals last week. The volume transaction in the week when compared with the previous week data moved up by +24.79% as against downwards movement by -4.24% recorded last week. Weekly value also went up by +20.33% as against positive position of +9.54% recorded last week.
The volume traded in the top ten most traded stocks for the week represented 73.80% of the entire market volume transactions and their total value accounted for 68.16% 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 2.02 billion units, valued at N14.70billion and exchanged in 9,644 deals compared with 1.70 billion units, valued at N12.58billion and exchanged in 14,914 deals in the preceding week. The volume traded in the sector accounted for 82.61% of the entire market compared with 86.63% of the ratio recorded last week.
FCMB Plc led the market volume for the week to displace UBA 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.
Services sector followed with 144.55 million units valued at N135.47 million and exchanged in 792 deals compared with 21.17 million units, valued at N48.98 million and exchanged in 535 recorded in the sector last week.
NSE All-Share Index opened the week on a negative note with -0.29% loss, bullish sentiments dominated the week while ASI closed positive on Friday by +0.57% with positive market breadth.
In the week under review, all NSE sectoral Indices closed positive as NSE banking recorded the highest gain by +7.95% while NSE Oil & Gas closed with the lowest gain by +0.93%.
Top 10 Gainers of the week
The numbers of gainers in the week closed at forty-two (42) compared with thirty-four (34) appreciations recorded last week. Access Bank Plc topped the gainers chart for the week with +16.30% appreciations. Other gainers in the top ten appreciation class are outlined below.
Top 10 Losers of the week
Twenty-six (26) stocks recorded price decline of different magnitude in the week under review compared with twenty-six (26) stocks declined in the previous week. NCR Nigeria Plc topped the losers chart for the week with-16.41% depreciation. Other losers in the top ten classes are outlined below.