The bulls continue to dictate the pace in the market for the second week in a row as bargain activities continue to outweigh sell pressure while The Exchange during the week list by introduction 1,630,091,000 Ordinary Shares of 50 kobo each of Fortis Microfinance Bank at N5.00 per share.

Furthermore, the bears continue to dominate market activities as tradings closed pessimistic by -0.74% to open the first trading day of the week negative while Nigerian Stock Market trims losses by +0.26% to close the second session green due to renewed bargain activities witnessed on the bourse.

The bulls continue to dominate market activities in the third session as NSE ASI firms up by +2.03% while bargain activities significantly outweighed sell pressure amid low volume turnover. The bears re-surfaced in the fourth session as market recorded -0.76% loss due to renewed selling activities witnessed in some sectors across the main board. 
 

Conversely, trading activities on Friday closed northwards as sentiments turned green. Consequently, the key benchmark indices inches up by +0.22% while market closed the week with aggregate gains of +0.99%.  
 

Further analysis on acquiring banks since transaction date showed that the share price of Access Bank Plc has recorded 23.23% gain with FCMB recording -20.51% losses while Union Bank Plc leads the chart with 79.43% gain. However, Sterling Bank Plc recorded -14.17% losses while ETI also closed negative with -10.03% 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 21,394.77 as against an upbeat by +1.35% recorded last week to close at 21,184.58.
 

In the same vein, the market capitalization in the week appreciated by N67.09 billion (US$447.32 million) to close at N6.82 trillion (US$45.51 billion) as against appreciation by N96.62 billion (US$644.15 million) recorded last week to close at N6.76 trillion (US$ 45.07billion).

The total volume traded in the week closed at 924.04 million units valued at N6.29 billion (US$41.95 million) compared with 2.71 billion units valued at N7.37 billion (US$49.17 million) exchanged in 16,255 deals last week. The volume transaction in the week when compared with the previous week data moved down by -65.98% as against upwards movement by +137.61% recorded last week. Weekly value went down by -14.68% as against negative position of -16.73% recorded last week.

The volume traded in the top ten most traded stocks for the week represented 60.24% of the entire market volume transactions and their total value accounted for 52.25% 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 649.69 million units, valued at N3.70billion and exchanged in 10,343 deals compared with 2.35 billion units, valued at N4.40billion and exchanged in 9,356 deals in the preceding week. The volume traded in the sector accounted for 70.31% of the entire market compared with 86.76% of the ratio recorded last week.

Diamond Bank Plc led the market volume for the week to displace Law Union & Rock 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.

Services sector followed with 55.77 million units valued at N145.19 million and exchanged in 549 deals compared with 26.65 million units, valued at N51.15 million and exchanged in 555 recorded in the sector last week.

INDEX MOVEMENTS 

NSE All-Share Index opened the week on a negative note with -0.74% loss, bullish sentiments dominated the week while ASI closed positive on Friday by +0.22% with negative market breadth.

In the week under review, four NSE sectoral Indices closed positive as NSE Insurance recorded the highest gain by +3.14% while NSE 30 closed with the lowest gain by +1.01%. 

Top 10 Gainers of the week

The numbers of gainers in the week closed at thirty-three (33) compared with twenty-seven (27) appreciations recorded last week. GTAssure Plc topped the gainers chart for the week with +20.49% 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-one (37) stocks declined in the previous week. Transcorp Plc topped the losers chart for the week with-21.13% 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, June 22^nd 2012; 16.30hrs

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