030812: Equity Market records 0.99% gains in the week on improved optimism
Category: Daily & Weekly Market Updates
Trading activities in the week closed northwards for the eight consecutive sessions as profitable transaction dominate the market in most trading days of the week amid improved optimism while the Exchange officially launches the NSE Lotus Islamic Index(NSE LII) which consists of companies whose business practices are in conformity with the principles of Shari’ah.
Furthermore, trading activities on the Nigerian bourse closed positive as ASI inches up marginally by +0.04% to open the first trading session of the weekpositive while equity market resumed southwards movement to record -1.03% losses in the second session as the negative transaction witnessed in the shares of Dangote Cement Plc also impacted market outlook negatively.
The bulls re-surfaced in style as the third session to close optimistic by +1.16% due to renewed bargain activities witnessed across the main board. Market maintained the tempo in the fourth session as continuous bargain activities permeate the bourse amid improved breadth while ASI records +0.68% gain.
Conversely, trading activities on Friday closed positive as sentiments remained optimistic. Consequently, the key benchmark index inches up by +0.15% while market closed the week with aggregate gain of +0.99%.
Further analysis on acquiring banks since transaction date showed that the share price of Access Bank Plc has recorded +50.30% gains with FCMB recording -22.05% losseswhile Union Bank Plc leads the chart with +111% gains. However, Sterling Bank Plc recorded -13.39% losses while ETI also closed negative with -12.51% loss recorded. See the tracking table below
However, the All-Share Index in the week under review moved up by +0.99% to close at 23,523.15 as against an upbeat by +0.86% recorded last week to close at23,292.80.
In the same vein, the market capitalization in the week appreciated by N73.31 billion (US$488.78 million) to close at N7.48 trillion (US$49.89 billion) as against appreciation by N64.28 billion (US$428.53 million) recorded last week to close at N7.41 trillion (US$ 49.40billion).
The total volume traded in the week closed at 1.36 billion units valued at N11.20 billion (US$74.68 million) compared with 1.63 billion units valued at N11.86 billion (US$79.09 million) exchanged in 20,983 deals last week. The volume transaction in the week when compared with the previous week data moved down by -16.43% as against upwards movement by +0.28% recorded last week. Weekly value also went down by -5.58% as against negative position of -0.24% recorded last week.
The volume traded in the top ten most traded stocks for the week represented 72.63% of the entire market volume transactions and their total value accounted for 66.30% 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 982.54 million units, valued at N7.94billion and exchanged in 10,281 deals compared with 1.05 billion units, valued at N6.82billion and exchanged in 11,583 deals in the preceding week. The volume traded in the sector accounted for 71.74% of the entire market compared with 64.61% of the ratio recorded last week.
Zenith Bank Plc led the market volume for the week to displace Union Diagnostics & Clinical services 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.
Healthcare sector followed with 198.51 million units valued at N276.99 million and exchanged in 321 deals compared with 335.03 million units, valued at N189.01 million and exchanged in 357 recorded in the sector last week.
NSE All-Share Index opened the week on a positive note with +0.04% marginal gains, bullish sentiments dominated the week while ASI closed positive on Friday by +0.15%with negative market breadth.
In the week under review, four NSE sectoral Indices closed positive as NSE Food recorded the highest gain by +2.65% while NSE LII closed with the lowest gain by +0.76%.
Top 10 Gainers of the week
The numbers of gainers in the week closed at thirty-two (32) compared with twenty-three (23) appreciations recorded last week. UTC Nigeria Plc topped the gainers chart for the week with +17.54% 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-seven (37) stocks declined in the previous week. Forte Oil Plc topped the losers chart for the week with-11.43% depreciation. Other losers in the top ten classes are outlined below.