110512: Equity Market dips by -0.19% in the week amidst profit taking
Category: Daily & Weekly Market Updates
Trading activities on the Nigerian bourse closed southwards in the week after recording three consecutive weeks of positive stance while the negative market transactions witnessed in three of the trading days under review pulled market back to the red zone as envisaged in our Sentiments Analysis Report.
Furthermore, market activities closed downbeat by -0.42% after three days rally to open the first trading day of the week negative while market resumed uptrend in the second session to close optimistic by +0.38% as bargain hunting permeate market activities across the main board.
The bears return to the bourse as trading activities closed negative to erase previous day gain by -0.54% in the third session while similar posture was recorded in the fourth session as market maintained southwards movement by -0.10% due to continuous profit taking amid low volume turnover and Naira Votes.
Conversely, trading activities on Friday closed northwards as sentiments turned green. Consequently, the key benchmark indices inches up by +0.49% while market closed the week with aggregate loss of -0.19%.
Further analysis on acquiring banks since transaction date showed that the share price of Access Bank Plc has recorded 35.35% gain, followed by FCMB with 34.62% gain while Union Bank Plc leads the chart with 138.67% gain. However, Sterling Bank recorded -3.15% gain while ETI closed negative with -1.46% loss recorded. See the tracking table below
However, the All-Share Index in the week under review moved down by -0.19% to close at 22,622.44 as against an upbeat by +2.52% recorded last week to close at22,665.99.
In the same vein, the market capitalization in the week depreciated by N13.88 billion (US$92.59 million) to close at N7.21 trillion (US$48.08 billion) as against appreciation by N177.49 billion (US$1.18 billion) recorded last week to close at N7.22 trillion (US$ 48.17billion).
The total volume traded in the week closed at 2.24 billion units valued at N19.35billion (US$129.01 million) compared with 2.44 billion units valued at N20.74 billion (US$138.23 million) exchanged in 16,961 deals last week. The volume transaction in the week when compared with the previous week data moved down by -8.41% as against upwards movement by +24.79% recorded last week. Weekly value also went down by -6.66% as against positive position of +20.33% recorded last week.
The volume traded in the top ten most traded stocks for the week represented 82.08% of the entire market volume transactions and their total value accounted for 80.75% 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 1.90 billion units, valued at N16.05billion and exchanged in 14,592 deals compared with 2.02 billion units, valued at N14.70billion and exchanged in 9,644 deals in the preceding week. The volume traded in the sector accounted for 85.02% of the entire market compared with 82.61% of the ratio recorded last week.
UBA Plc led the market volume for the week to displace FCMB 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 136.89 million units valued at N2.20 million and exchanged in 3,547 deals compared with 128.02 million units, valued at N4.65 billion and exchanged in 3,278 recorded in the sector last week.
NSE All-Share Index opened the week on a negative note with -0.42% loss, bearish sentiments dominated the week while ASI closedpositive on Friday by +0.49% with negative market breadth.
In the week under review, two NSE sectoral Indices closed negative as NSE banking recorded the highest gain by -3.81% while NSE 30 closed with the lowest loss by -1.00%.
Top 10 Gainers of the week
The numbers of gainers in the week closed at forty-three (43) compared with forty-two (42) appreciations recorded last week. Dangote Flour Mills Plc topped the gainers chart for the week with +26.79% 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 twenty-six (26) stocks declined in the previous week. Skye Bank Plc topped the losers chart for the week with-16.25% depreciation. Other losers in the top ten classes are outlined below.