200712: Market CAP records N89.73bn gains in the week
Category: Daily & Weekly Market Updates
Market outlook remained positive for the sixth week in a row as the unrelenting bargain hunting witnessed in the early trading days of the week help sustained the impressive posture while NSE ASI also garnered more weights to close above 23,000 psychological line during the weekly session.
Furthermore, Nigerian Stock Market sustained uptrend as ASI inches up by +1.04% to close market activities positive for the fourth session in a rowwhiletrading activities on the Nigerian bourse sustained the rally in the second session to close upbeat by +0.27% while NSE ASI closed above 23,000 psychological lines.
The bulls continued to dominate market activitiesin the third session to close upbeat by +1.03% due to continuous and unrelenting bargain activities witnessed across the main board. Market resumed downtrend in the fourth session as the bears re-surfaced with renewed sell pressure witnessed across the main board while ASI dips by -0.77%.
Conversely, trading activities on Friday closed downtick as sentiments remained pessimistic. Consequently, the key benchmark index dips by -0.01% while market closed the week with aggregate gain of +1.56%.
Further analysis on acquiring banks since transaction date showed that the share price of Access Bank Plc has recorded +51.52% gains with FCMB recording -15.38% losseswhile Union Bank Plc leads the chart with +103.83% gains. However, Sterling Bank Plc recorded -6.30% losses while ETI also closed negative with -11.65% loss recorded. See the tracking table below
However, the All-Share Index in the week under review moved up by +1.56% to close at 23,095.31 as against an upbeat by +2.85% recorded last week to close at22,741.05.
In the same vein, the market capitalization in the week appreciated by N89.73 billion (US$598.20 million) to close at N7.34 trillion (US$48.97 billion) as against appreciation by N201.16 billion (US$1.34 billion) recorded last week to close at N7.25 trillion (US$ 48.38billion).
The total volume traded in the week closed at 1.63 billion units valued at N11.89 billion (US$79.28 million) compared with 1.45 billion units valued at N9.60 billion (US$64.01 million) exchanged in 18,233 deals last week.The volume transaction in the week when compared with the previous week data moved up by +12.11% as against upwards movement by +44.78% recorded last week. Weekly value also went up by +23.85% as against positive position of +12.94% recorded last week.
The volume traded in the top ten most traded stocks for the week represented 73.90% of the entire market volume transactions and their total value accounted for 53.41% 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 1.21 billion units, valued at N6.88billion and exchanged in 12,971 deals compared with 1.13 billion units, valued at N5.39billion and exchanged in 10,331 deals in the preceding week. The volume traded in the sector accounted for 74.47% of the entire market compared with 78.18% of the ratio recorded last week.
United Bank for Africa Plc led the market volume for the week as it also 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 130.21 million units valued at N182.07 million and exchanged in 909 deals compared with 77.87 million units, valued at N140.50 billion and exchanged in 680 recorded in the sector last week.
NSE All-Share Index opened the week on a positive note with +1.04% gains, bullish sentiments dominated the week while ASI closed negative on Friday by -0.01% with positive market breadth.
In the week under review, all NSE sectoral Indices closed positive as NSE Food recorded the highest gain by +4.02% while NSE Insurance closed with the lowest gain by +0.33%.
Top 10 Gainers of the week
The numbers of gainers in the week closed at forty (40) compared with thirty-two (32) appreciations recorded last week. Conoil Plc topped the gainers chart for the week with +21.42% appreciations. Other gainers in the top ten appreciation class are outlined below.
Top 10 Losers of the week
Thirty-one (31) stocks recorded price decline of different magnitude in the week under review compared with thirty-two (32) stocks declined in the previous week. Cement Co. Of Northern Nigeria Plc topped the losers chart for the week with-21.15% depreciation. Other losers in the top ten classes are outlined below.