Unrelenting sell pressure continued to permeate trading activities on the Nigerian bourse as market closed the week southwards for the fifth consecutive session due to negative outlook witnessed in all trading days of the week while International Energy Insurance Plc announced its share reconstruction exercise with 1 for 5 reverse split.

More so, NSE ASI closed below 21,000 psychological lines on the last trading day of the week while market YTD performance currently stands at +0.83%.

Furthermore, trading activities sustained southwards movement by -0.81% to open the first trading day of the week pessimistic as sell pressure significantly outweighed bargain activities while the bears continue to exert their grip on the bourse as unrelenting pressure continue to permeate market activities with the key market indicator closing in the red zone with ASI sliding further by -0.70% after the second session.
 

In the third session, Nigerian Stock Market witnessed intense selling activities to sustain southwards movement by -1.15% as the loss recorded in the share price of Dangote Cement Plc also contributed to the negative outlook while similar outlook was also recorded in the fourth session with All-Share Index recording -1.26% loss.
 

Conversely, trading activities on Friday closed southwards as sentiments remained bearish. Consequently, the key benchmark indices dips by -1.00% while market closed the week with aggregate loss of -4.83%.
 

Further analysis on acquiring banks since transaction date showed that the share price of Access Bank Plc has recorded 21.82% gain with FCMB recording -13.85% losses while Union Bank Plc leads the chart with 51.67% gain. However, Sterling Bank Plc recorded -13.39% losses while ETI also closed negative with -7.28% loss recorded. See the tracking table below

However, the All-Share Index in the week under review moved down by -4.83% to close at 20,902.95 as against a decline by -1.21% recorded last week to close at 21,963.87.
 

In the same vein, the market capitalization in the week depreciated by N338.33 billion (US$2.25 billion) to close at N6.66 trillion (US$44.42 billion) as against depreciation by N85.62 billion (US$570.83 million) recorded last week to close at N7.00 trillion (US$ 46.68billion).

The total volume traded in the week closed at 1.14 billion units valued at N8.86 billion (US$59.05 million) compared with 1.30 billion units valued at N9.45 billion (US$63.04 million) exchanged in 14,792 deals last week. The volume transaction in the week when compared with the previous week data moved down by -12.14% as against downwards movement by -25.23% recorded last week. Weekly value also went down by -6.33% as against negative position of -37.38% recorded last week.



 

The volume traded in the top ten most traded stocks for the week represented 69.67% of the entire market volume transactions and their total value accounted for 66.38% 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 830.80 million units, valued at N6.15billion and exchanged in 11,014 deals compared with 737.80 million units, valued at N5.89billion and exchanged in 8,550 deals in the preceding week. The volume traded in the sector accounted for 72.69% of the entire market compared with 56.72% of the ratio recorded last week.
 

First Bank Plc led the market volume for the week to displace Transcorp 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 114.53 million units valued at N256.81 million and exchanged in 1,014 deals compared with 269.16 million units, valued at N314.29 million and exchanged in 692 recorded in the sector last week.    

INDEX MOVEMENTS 

NSE All-Share Index opened the week on a negative note with -0.81% loss, bearish sentiments dominated the week while ASI closed negative on Friday by -1.00% with negative market breadth. 


 

In the week under review, all NSE sectoral Indices closed negative as NSE 30 recorded the highest loss by -4.64% while NSE Oil & Gas closed with the lowest loss by -2.51%.


 

Top 10 Gainers of the week

The numbers of gainers in the week closed at twenty-two (22) compared with twenty-three (23) appreciations recorded last week. May & Baker Plc topped the gainers chart for the week with +26.24% appreciations. Other gainers in the top ten appreciation class are outlined below.


 

Top 10 Losers of the week

Forty-one (41) stocks recorded price decline of different magnitude in the week under review compared with thirty-six (36) stocks declined in the previous week. Ashaka Cement Plc topped the losers chart for the week with-15.98% 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, Jun 8^th 2012; 16.05hrs