010612: Market CAP sheds N85.62bn in four trading days
Category: Daily & Weekly Market Updates
The bears continued to dominate market activities for the fourth week in a row as unprofitable transactions permeated the bourse in all trading days of the week while NSE key market indicator, ASI, closed below 22,000 psychological lines as envisaged in our previous report .
Furthermore, Equity Market resumed southwards movement by -0.24% to open the first trading day of the week negative after recording a marginal gain in the previous session as selling activities outweighed bargain hunting amid negative while the bears continue to dominate market activities for the second consecutive session amid positive market breadth as ASI slide further by -0.04% after the second session.
In the third session, unprofitable transactions continued to permeate the Nigerian bourse as the bears further exerted their grip on the market for the third session in a row due to unrelenting sell pressure witnessed across the main board with NSE Index shedding -0.47%.
Conversely, trading activities on Friday closed southwards as sentiments remained negative. Consequently, the key benchmark indices dips by -0.46% while market closed the week with aggregate loss of -1.21%.
Further analysis on acquiring banks since transaction date showed that the share price of Access Bank Plc has recorded 39.19% gain with FCMB recording -7.69% losswhile Union Bank Plc leads the chart with 79.43% gain. However, Sterling Bank Plc recorded -10.24% losses while ETI also closed negative with -3.60% loss recorded. See the tracking table below
However, the All-Share Index in the week under review moved down by -1.21% to close at 21,963.87 as against a decline by -0.66% recorded last week to close at22,232.36.
In the same vein, the market capitalization in the week depreciated by N85.62 billion (US$570.83 million) to close at N7.00 trillion (US$46.68 billion) as against depreciation by N47.43 billion (US$316.25 million) recorded last week to close at N7.09 trillion (US$ 47.25billion).
The total volume traded in the week closed at 1.30 billion units valued at N9.45 billion (US$63.04 million) compared with 1.73 billion units valued at N15.10 billion (US$100.68 million) exchanged in 19,754 deals last week. The volume transaction in the week when compared with the previous week data moved down by -25.23% as against downwards movement by -5.85% recorded last week. Weekly value also went down by -37.38% as against positive position of +8.98% recorded last week.
The volume traded in the top ten most traded stocks for the week represented 69.45% of the entire market volume transactions and their total value accounted for 61.74% 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 737.80 million units, valued at N5.89billion and exchanged in 8,550 deals compared with 1.29 billion units, valued at N8.88billion and exchanged in 11,342 deals in the preceding week. The volume traded in the sector accounted for 56.72% of the entire market compared with 74.71% of the ratio recorded last week.
Transcorp Plc led the market volume for the week to displace Goldlink Insurance 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.
Conglomerates sector followed with 269.16 million units valued at N314.29 million and exchanged in 692 deals compared with 197.47 million units, valued at N505.04 million and exchanged in 767 recorded in the sector last week.
NSE All-Share Index opened the week on a negative note with -0.24% loss, bearish sentiments dominated the week while ASI closed negative on Friday by -0.46% with negative market breadth.
In the week under review, all NSE sectoral Indices closed negative as NSE Banking recorded the highest loss by -3.27% while NSE Insurance closed with the lowest loss by -0.62%.
Top 10 Gainers of the week
The numbers of gainers in the week closed at twenty-three (23) compared with fifteen (15) appreciations recorded last week. May & Baker Plc topped the gainers chart for the week with +14.63% appreciations. Other gainers in the top ten appreciation class are outlined below.
Top 10 Losers of the week
Thirty-six (36) stocks recorded price decline of different magnitude in the week under review compared with thirty-four (34) stocks declined in the previous week. FCMB Plc topped the losers chart for the week with-15.29% depreciation. Other losers in the top ten classes are outlined below.