130712: Equity Market records +2.85% gains to close the week green
Category: Daily & Weekly Market Updates
Nigerian Stock Market closed in the green zone for the fifth week in succession as the intense bargain activities witnessed during sessions in the week lift the key market indicator further to sustain the positive outlook while market breadth closed flat.
Furthermore, equity market sustained uptrend as ASI inches up by +0.36% to open the first trading of the week positive while market resumed southwards movement in the second session to close downbeat by -0.32% amid increased volume turnover and Naira Votes.
The bulls resurfaced to dominate market activities in the third session as NSE ASI records +0.60% gains due to renewed bargain activities witnessed on the bourse. Market maintained uptrend in the fourth session as NSE Index firms up +1.08% while the positive transaction witnessed in the shares of Dangote Cement Plc, market leader by capitalisation, also contributed to the positive outlook.
Conversely, trading activities on Friday closed northwards as sentiments remained optimistic. Consequently, the key benchmark index inches up by +1.10% while market closed the week with aggregate gain of +2.85%.
Further analysis on acquiring banks since transaction date showed that the share price of Access Bank Plc has recorded +55.56% gains with FCMB recording -15.38% losseswhile Union Bank Plc leads the chart with +122.49% gains. However, Sterling Bank Plc recorded -1.57% losses while ETI also closed negative with -13.45% loss recorded. See the tracking table below
However, the All-Share Index in the week under review moved up by +2.85% to close at 22,741.05 as against an upbeat by +2.37% recorded last week to close at22,110.91.
In the same vein, the market capitalization in the week appreciated by N201.16 billion (US$1.34 billion) to close at N7.25 trillion (US$48.38 billion) as against appreciation by N163.24 billion (US$1.08 billion) recorded last week to close at N7.05 trillion (US$ 47.04billion).
The total volume traded in the week closed at 1.45 billion units valued at N9.60 billion (US$64.01 million) compared with 1.00 billion units valued at N8.50 billion (US$56.68 million) exchanged in 18,341 deals last week. The volume transaction in the week when compared with the previous week data moved up by +44.78% as against downwards movement by -81.29% recorded last week. Weekly value also went up by +12.94% as against negative position of -62.14% recorded last week.
The volume traded in the top ten most traded stocks for the week represented 67.97% of the entire market volume transactions and their total value accounted for 51.53% 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 1.13 billion units, valued at N5.39billion and exchanged in 10,331 deals compared with 695.29 million units, valued at N4.39billion and exchanged in 10,821 deals in the preceding week. The volume traded in the sector accounted for 78.18% of the entire market compared with 69.06% of the ratio recorded last week.
United Bank for Africa Plc led the market volume for the week to displace First Bank 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 77.78 million units valued at N140.50 million and exchanged in 680 deals compared with 67.07 million units, valued at N170.73 billion and exchanged in 646 recorded in the sector last week.
NSE All-Share Index opened the week on a positive note with +0.36% gain, bullish sentiments dominated the week while ASI closed positive on Friday by +1.10%with flat market breadth.
In the week under review, four NSE sectoral Indices closed positive as NSE 30 recorded the highest gain by +2.27% while NSE Banking closed with the lowest gain by +0.82%.
Top 10 Gainers of the week
The numbers of gainers in the week closed at thirty-two (32) compared with thirty-eight (38) appreciations recorded last week. Union Bank Plc topped the gainers chart for the week with +22.05% appreciations. Other gainers in the top ten appreciation class are outlined below.
Top 10 Losers of the week
Thirty-two (32) stocks recorded price decline of different magnitude in the week under review compared with twenty-eight (28) stocks declined in the previous week. Smart Products Plc topped the losers chart for the week with-15.15% depreciation. Other losers in the top ten classes are outlined below.