090210 - Market rebounds to positive outlook as volume and value rise by 109.11% and 134.80%.

Proshare


The depressive outlook of the market that persisted till yesterday was reversed today as equities prices made a return to northward direction after consecutive declines by 2.6% and 1.56% recorded in the last two trading days respectively. There seems to be an indication of upbeat returning to blue chips stocks, most especially in the banking, building materials and breweries sectors while food &beverages stocks are still recuperating gradually for a comeback to upbeat. The market sudden flight to positive outlook today might not be unconnected with the impression of transparent market as contained in the promise made by the new SEC DG on her maiden visit to the NSE yesterday, as this might have inched up the investors’ confidence level in the market. Besides this, the evidence of improved liquidity situation in the system (though not yet enough to support the market capacity sufficiently) may be another contributory factor to the positive market outlook recorded.


The transaction volume at the close of trading today rose by 109.11% to close at 580.276 million units exchanged in 7,233 deals as against 35.24% decline to close at 227.492 million units exchanged in 6,012 deals recorded yesterday. The transaction value followed suit with 134.80% to close at N3.173 billion a contrast with 43.37% decline to close at N1.581 billion recorded the previous trading day. At the close of trading, out of 133 securities traded today, 43 gained, 34 declined and 77 closed at their previous trading prices, compared with 18 gainers, 54 decliners and 62 unchanged of yesterday. Flourmill Plc topped the gainers’ list for the day with 5% price appreciation, while on the other hand UAC-Property Plc topped the decliners’ chart with the highest price decline by 5%.


The transaction volume today was mainly boosted by the activities in the shares of DNmeyer Plc with the volume traded in the stock alone accounting for 19.30% of the entire market volume. The stock traded 112.010 million units valued at N519.726 million in 5 deals to record a massive price decline by 4.92%; this suggests that the transactions on the shares were predominantly influenced by sell pressure. Access Bank Plc traded the next magnitude of volume standing at 51.595 million units valued at N444.546 million and recorded marginal price appreciation by 0.23%. Crusader Plc enjoyed more buyers’ patronage today as the price of the stock inched up by 4.12% after trading 43.286 million units valued at N42.799 million in 37 deals. FCMB Plc emerged the fourth most traded stock for the day with 31.791 million units valued at N293.667 million exchanged in 109 deals, the price eventually closed at the previous closed. Diamond Bank Plc recorded heavy price drop to the tune of 4.88% after trading 30.698 million units valued at N258.315 million in 193 deals. The transaction of the top five trades for the day amounted to 269.381 million units valued at N1.559 billion exchanged in 633 deals; the volume and value figures represented 46.42% and 41.99% of the entire market volume and value respectively.


The All-Share Index at the close trading today bounced back to positive by 0.65% to close at 23,011.95 as against decline by 1.56% to close at 22,863.51 of yesterday. The market capitalization today appreciated by N35.750 billion to close at N5.542 trillion as against decline by N87.367 billion recorded yesterday to close at N5.506 trillion.  




Agleventis Plc, Air service Plc, Capoil Plc, Daar Communication Plc, Flourmill Plc, Glaxosmith Plc, Guinness Plc, Ikeja Hotel Plc, Nigerian Bottling Company Plc, Oceanic Bank Plc, Royal Exchange Plc and Unic Insurance Plc closed on strong bid.


African Insurance Plc, Afromedia Plc, BOC Gases Plc, Capital Hotel Plc, DN Meyer Plc, Ecobank Plc, Incar Plc, Spring Bank Plc, Staco Insurance Plc, UAC-Property Plc, Unity Kapital Plc and Wapic Insurance Plc closed on strong offer.



 

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