Unprofitable transaction dominated trading activities on the Nigerian bourse in most trading days of the week as profits taking keep on to permeate across the main board to further extend market loss to the second week in a row while the CBN Monetary Policy Committee is scheduled to hold from Monday 21^st May 2012 as financial analyst expect a reduction in the key benchmark rate.

Furthermore, the bears re-surfaced on the Nigerian bourse to open the first trading day of week negative as profit taking dragged market indicator back by -0.31% to the negative territory while market slid further in the second session to close red by -0.58% due to intense selling activities witnessed across the main
 

Market retracted in the third session to close positive after two sessions of negative outlook with NSE Index recording +0.46% gain while profit taking resumes in the fourth session as key market indicators closed marginally in the negative territory by -0.03%.
 

Conversely, trading activities on Friday closed southwards as sentiments remained negative. Consequently, the key benchmark indices dips by -0.61% while market closed the week with aggregate loss of -1.07%.
 

Further analysis on acquiring banks since transaction date showed that the share price of Access Bank Plc has recorded 38.38% gain, followed by FCMB with 15.90% gain while Union Bank Plc leads the chart with 95.69% gain. However, Sterling Bank recorded -0.79% gain while ETI closed negative with -5.06% loss recorded. See the tracking table below

However, the All-Share Index in the week under review moved down by -1.07% to close at 22,381.11 as against a decline by -0.19% recorded last week to close at 22,622.44.



 

In the same vein, the market capitalization in the week depreciated by N76.96 billion (US$513.08 million) to close at N7.13 trillion (US$47.56 billion) as against depreciation by N13.88 billion (US$92.59 million) recorded last week to close at N7.21 trillion (US$ 48.08billion).

The total volume traded in the week closed at 1.84 billion units valued at N13.86billion (US$92.38 million) compared with 2.24 billion units valued at N19.35 billion (US$129.01 million) exchanged in 23,053 deals last week. The volume transaction in the week when compared with the previous week data moved down by -17.63% as against downwards movement by -8.41% recorded last week. Weekly value also went down by -28.39% as against negative position of -6.66% recorded last week.

The volume traded in the top ten most traded stocks for the week represented 76.57% of the entire market volume transactions and their total value accounted for 69.94% 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 1.11 billion units, valued at N8.86billion and exchanged in 11,484 deals compared with 1.90 billion units, valued at N16.05billion and exchanged in 14,592 deals in the preceding week. The volume traded in the sector accounted for 60.27% of the entire market compared with 85.02% of the ratio recorded last week.

IHS 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.

ICT sector followed with 358.11 million units valued at N818.17 million and exchanged in 42 deals compared with 3.45 million units, valued at N7.06 billion and exchanged in 51 recorded in the sector last week.

INDEX MOVEMENTS 

NSE All-Share Index opened the week on a negative note with -0.31% loss, bearish sentiments dominated the week while ASI closed negative on Friday by -0.61% with negative market breadth.

In the week under review, all NSE sectoral Indices closed negative as NSE banking recorded the highest gain by -2.87% while NSE Oil & Gas closed with the lowest loss by -0.79%. 

Top 10 Gainers of the week

The numbers of gainers in the week closed at twenty-four (24) compared with forty-three (43) appreciations recorded last week. Transcorp Plc topped the gainers chart for the week with +23.73% appreciations. Other gainers in the top ten appreciation class are outlined below. 

Top 10 Losers of the week

Thirty-nine (39) stocks recorded price decline of different magnitude in the week under review compared with thirty-three (33) stocks declined in the previous week. NAHCO Plc topped the losers chart for the week with-27.70% depreciation. Other losers in the top ten classes are outlined below.

Banking Earnings Report 

Acquiring Banks 

Corporate Declarations for the Week 

analyst@proshareng.com , 00234-1-7624131, May 18^th 2012; 17.00hrs