270712: NSE Index records 0.86% gains in the week; CBN retains MPR at 12%
Category: Daily & Weekly Market Updates
Equity Market closed the week positive for the seventh week in succession as the positive stance recorded in the first and the last trading days of the week help sustain the uptrend despite increased volatility witnessed during the weekly sessions while the CBN monetary policy committee left its benchmark interest rate on hold at 12%.
Furthermore, Equity Market closed positive as ASI inches up by +1.24% to open the first trading session of the weekpositive while trading activities resumed downtrend as the negative transaction witnessed in the shares of Dangote Cement Plc contributed to the outlook recorded while CBN left its benchmark interest rate on hold at 12% as expected.
The bears continued to dominate trading activities for the third session to close negative by -0.17% as sell pressure slightly outweigh bargain hunting amid improved market turnover. Market sustained downtrend in the fourth session as speculative trading continue to permeate the Nigerian bourse while the key benchmark indicator recorded a modest loss of -0.06%.
Conversely, trading activities on Friday closed positive as sentiments turned optimistic. Consequently, the key benchmark index inches up by +0.76% while market closed the week with aggregate gain of +0.86%.
Further analysis on acquiring banks since transaction date showed that the share price of Access Bank Plc has recorded +53.54% gains with FCMB recording -17.95% losseswhile Union Bank Plc leads the chart with +91.39% gains. However, Sterling Bank Plc recorded -11.02% losses while ETI also closed negative with -11.74% loss recorded. See the tracking table below
However, the All-Share Index in the week under review moved up by +0.86% to close at 23,292.80 as against an upbeat by +1.56% recorded last week to close at23,095.31.
In the same vein, the market capitalization in the week appreciated by N64.28 billion (US$428.53 million) to close at N7.41 trillion (US$49.40 billion) as against appreciation by N89.73 billion (US$598.20 million) recorded last week to close at N7.34 trillion (US$ 48.97billion).
The total volume traded in the week closed at 1.63 billion units valued at N11.86 billion (US$79.09 million) compared with 1.63 billion units valued at N11.89 billion (US$79.28 million) exchanged in 22,408 deals last week. The volume transaction in the week when compared with the previous week data moved up by +0.28% as against upwards movement by +12.11% recorded last week. Weekly value went down by -0.24% as against positive position of +23.85% recorded last week.
The volume traded in the top ten most traded stocks for the week represented 73.20% of the entire market volume transactions and their total value accounted for 53.47% 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 1.05 billion units, valued at N6.82billion and exchanged in 11,583 deals compared with 1.21 billion units, valued at N6.88billion and exchanged in 12,971 deals in the preceding week. The volume traded in the sector accounted for 64.61% of the entire market compared with 74.47% of the ratio recorded last week.
Union Diagnostics & Clinical Services Plc led the market volume for the week to displace United Bank for Africa 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 119.13 million units valued at N3.68 billion and exchanged in 4,102 deals compared with 85.34 million units, valued at N3.45 billion and exchanged in 4,279 recorded in the sector last week.
NSE All-Share Index opened the week on a positive note with +1.24% gains, bullish sentiments dominated the week while ASI closed positive on Friday by +0.76% with negative market breadth.
In the week under review, two NSE sectoral Indices closed positive as NSE 30 recorded the highest gain by +0.57% while NSE Food closed with the lowest gain by +0.002%.
Top 10 Gainers of the week
The numbers of gainers in the week closed at twenty-three (23) compared with forty (40) appreciations recorded last week. Portland Paints Plc topped the gainers chart for the week with +26.43% appreciations. Other gainers in the top ten appreciation class are outlined below.
Top 10 Losers of the week
Thirty-seven (37) stocks recorded price decline of different magnitude in the week under review compared with thirty-one (31) stocks declined in the previous week. Eterna Oil Plc topped the losers chart for the week with-17.99% depreciation. Other losers in the top ten classes are outlined below.