071212: Market adds N85.28billion in the week to extend gains


Equity market witnessed sustained moderate and cautious bargain drive to extend previous week’s gains; riding on value investing along with low-key speculative trading as sentiments remained positive in the week.

The outlook recorded in the week came in line with our position in the previous report. Meanwhile, we expect sustained cautious bargain and value investing in the coming periods.

Further analysis reveals improved risk appetite in the week when compared with previous week’s posture as market breadth retuned to green zone in style - This could not be isolated from forbearance packaged announced by the Federal Government in the week.

Stocks succumbed to sell pressure on Monday, recording -0.43% loss to open the week on negative note as speculative trading dominated the terrain. However, market regained consciousness on Tuesday with modest gain of +0.01% amid negative breadth. Notwithstanding, the key benchmark indices climbed further by +0.20% gain while ASI consolidates position on Thursday with +0.42% gain.

Consequently, market activities on Friday closed in the green zone as the key benchmark index climbed by +0.47% while market closed the week with aggregate gain of +0.67%.

Further analysis on acquiring banks since transaction date showed that the share price of Access Bank Plc has recorded +81.82% gains with FCMB recording -19.23% losses while Union Bank Plc leads the chart with +252.15% gains. However, Sterling Bank Plc recorded +23.62% gains while ETI closed negative with -5.83% loss recorded. See the tracking table below

However, the All-Share Index in the week under review appreciated by +0.67% to close at 26,671.72 as against an uptick by +0.65% recorded last week to close at 26,494.44.

In the same vein, the market capitalization in the week depreciated by N56.64 billion (US$354.03 million) to close at N8.52 trillion (US$53.26 billion) as against appreciation by N85.02 billion (US$531.40 million) recorded last week to close at N8.46 trillion (US$ 52.90 billion).

The total volume traded in the week closed at 1.14 billion units valued at N11.23 billion (US$70.24 million) compared with 1.21 billion units valued at N8.88 billion (US$55.51 million) exchanged in 18,888 deals last week. The volume transaction in the week when compared with the previous week data moved down by -5.87% as against upbeat by +1.06% recorded last week. Weekly value also went up by +26.52% as against negative position of -7.68% recorded last week.

The volume traded in the top ten most traded stocks for the week represented 63.10% of the entire market volume transactions and their total value accounted for 58.02% 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 872.71 million units, valued at N6.80 billion and exchanged in 11,398 deals compared with 752.72 billion units, valued at N5.00 billion and exchanged in 10,925 deals in the preceding week. The volume traded in the sector accounted for 76.28% of the entire market compared with 62.02% of the ratio recorded last week.

Zenith Bank Plc led the market volume for the week compared to 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.

Consumer Goods sector followed with 75.77 million units valued at N3.11 billion and exchanged in 3,816 deals compared with 201.55 million units, valued at N324.57 million and exchanged in 806 deals recorded in the sector last week.

NSE All-Share Index opened the week on a negative note with -0.43% gain, positive sentiments dominated the week as ASI closed positive on Friday by +0.47% with positive market breadth.

Top 10 Gainers of the week
The numbers of gainers in the week closed at Thirty-three (33) compared with Thirty-two (32) appreciations recorded last week. AIICO Plc topped the gainers chart for the week with +22.22% appreciations. Other gainers in the top ten appreciation class are outlined below.

Top 10 Losers of the week
Twenty-six (26) stocks recorded price decline of different magnitude in the week under review compared with Thirty-two (32) stocks declined in the previous week. EVANSMED Plc topped the losers chart for the week with-13.33% depreciation. Other losers in the top ten classes are outlined below.

Banking Earnings Report

Acquiring Banks

Stocks that made Headlines Today

Corporate Declarations for the Week

analyst@proshareng.com , 00234-1-7624131, Dec 07th 2012; 17.30hrs

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