Nigerian Capital Market witnessed increased pessimistic trading in the week as investors engaged in consistent profit taking activities while the key benchmark indices traded southward in the face of mixed market turnover posture amid weak breadth.
Equities experienced continued moderate bargain position on Monday, extending uptrend by +0.59% to open the week on positive note as investors remained optimistic.
However, the key benchmark indices slipped on Tuesday by -0.07% on the back of increased speculative trading. ASI fell further on Wednesday as investors increased pessimistic trading, plunging by -0.40% while the profiteering continued on Thursday to close market with a margin loss of -0.04% as Dangote Cement cushioned the sell pressure.
Subsequently, equities lost breadth on Friday as market succumbed to increased volatility to end the week with aggregate loss of -0.17%.
Further analysis on acquiring banks since transaction date showed that the share price of Access Bank Plc has recorded +136.36% gains with FCMB recording +33.26% gain while Union Bank Plc leads the chart with +349.28% gains. Also, Sterling Bank Plc recorded +120.47% gains and ETI closed positive with 18.42% gain recorded. See the tracking table below
However, the All-Share Index in the week under review fell by -0.17% to close at 33,258.45 as against appreciation by +2.78% recorded last week to close at 33,313.49.
In the same vein, the market capitalization in the week depreciated by N16.07 billion (US$100.44 billion) to close at N10.64 trillion (US$66.51 billion) as against appreciation by N267.43 billion (US$1.67billion) recorded last week to close at N10.65 trillion (US$66.61 billion)
The total volume traded in the week closed at 3.57 billion units valued at N22.69 billion (US$154.32 million) compared with 3.57 billion units valued at N22.69 billion (US$154.32 million) exchanged in 39,321 deals last week. The volume transaction in the week when compared with the previous week data moved up by +18.97% as against uptrend by +26.48% recorded last week. Weekly value also went down by -6.14% as against positive position of +11.27% recorded last week.
The volume traded in the top ten most traded stocks for the week represented 47.79% of the entire market volume transactions and their total value accounted for 32.64% 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 3.25 billion units, valued at 14.33 billion and exchanged in 23,835 deals compared with 2.52 billion units, valued at N16.33 billion and exchanged in 23,085 deals in the preceding week. The volume traded in the sector accounted for 76.53% of the entire market compared with 70.75% of the ratio recorded last week.
UNITY 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.
Conglomerates sector followed with 363.52 million units valued at N964.61 million and exchanged in 2,053 deals compared with 473.14 million units, valued at N1.05 billion and exchanged in 2,341 deals recorded in the sector last week.
NSE All-Share Index opened the week on a positive note with +0.59% gain. However, negative sentiments dominated the week as ASI closed negative on Friday by -0.25% with positive market breadth.
Top 10 Gainers of the week
The numbers of gainers in the week closed at fifty-one (51) compared with seventy-one (71) appreciations recorded last week. ROYALEX Plc topped the gainers chart for the week with +29.03% appreciations. Other gainers in the top ten appreciation class are outlined below
Top 10 Losers of the week
Forty (40) stocks recorded price decline of different magnitude in the week under review compared with eighteen (18) stocks declined in the previous week. LIVESTOCK Plc topped the losers chart for the week with—17.44% depreciation. Other losers in the top ten classes are outlined below.
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