290612: Market CAP records N65.37bn gain in the week; Academy Press Plc declares 7.5k dividend
Category: Daily & Weekly Market Updates
Market activities closed the week with the bulls for the third session in a row as the positive outlook witnessed in two trading days in the week significantly accounted for the sustained uptrend amid impressive volume turnover buoyed by the huge transaction witnessed in the shares ofUnion Bank of Nigeria Plc.
Furthermore, trading activities on the Nigerian bourse closed pessimistic by -0.18% to open the first trading of the week negative as against the positive outlook witnessed in the last session due to renewed sell pressure while market maintained downtrend in the second session with a modest of -0.05%.
The bulls resurfaced to dominate market activities in the third session as NSE ASI firms up by +1.06% due to renewed bargain activities amid increased market turnover.Market resumed southwards movement in the fourth session as market recorded -0.15% loss due to renewed sell pressure witnessed on the bourse.
Conversely, trading activities on Friday closed northwards as sentiments turned green. Consequently, the key benchmark index inches up by +0.27% while market closed the week with aggregate gains of +0.96%.
Further analysis on acquiring banks since transaction date showed that the share price of Access Bank Plc has recorded 31.11% gain with FCMB recording -17.18% losseswhile Union Bank Plc leads the chart with 78.47% gain. However, Sterling Bank Plc recorded -5.51% losses while ETI also closed negative with -7.46% loss recorded. See the tracking table below
However, the All-Share Index in the week under review moved up by +0.96% to close at 21,599.57 as against an upbeat by +0.99% recorded last week to close at21,394.77.
In the same vein, the market capitalization in the week appreciated by N65.37 billion (US$435.84 million) to close at N6.89 trillion (US$45.95 billion) as against appreciation by N67.09 billion (US$447.32 million) recorded last week to close at N6.82 trillion (US$ 45.51billion).
The total volume traded in the week closed at 5.38 billion units valued at N22.46 billion (US$149.73 million) compared with 924.04 million units valued at N6.29 billion (US$41.95 million) exchanged in 17,709 deals last week. The volume transaction in the week when compared with the previous week data moved up by +482.31% as against upwards movement by -65.98% recorded last week. Weekly value also went up by +256.88% as against negative position of -14.68% recorded last week.
The volume traded in the top ten most traded stocks for the week represented 93.13% of the entire market volume transactions and their total value accounted for 83.18% 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 4.89 billion units, valued at N18.91billion and exchanged in 9,509 deals compared with 649.69 million units, valued at N3.70billion and exchanged in 10,343 deals in the preceding week. The volume traded in the sector accounted for 91.00% of the entire market compared with 70.31% of the ratio recorded last week.
Union Bank Plc led the market volume for the week to displace Diamond Bank 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 300.11 million units valued at N368.85 million and exchanged in 1,130 deals compared with 42.18 million units, valued at N109.50 million and exchanged in 477recorded in the sector last week.
NSE All-Share Index opened the week on a negative note with -0.18% loss, bullish sentiments dominated the week while ASI closed positive on Friday by +0.27% with negative market breadth.
In the week under review, three NSE sectoral Indices closed positive as NSE Food recorded the highest gain by +1.48% while NSE Banking closed with the lowest gain by +0.27%.
Top 10 Gainers of the week
The numbers of gainers in the week closed at thirty (30) compared with thirty-three (33) appreciations recorded last week. Paints & Coatings Manufacturers Plc topped the gainers chart for the week with +25.66% appreciations. Other gainers in the top ten appreciation class are outlined below.
Top 10 Losers of the week
Thirty-four (34) stocks recorded price decline of different magnitude in the week under review compared with thirty-one (37) stocks declined in the previous week. GTAssure Plc topped the losers chart for the week with-10.88% depreciation. Other losers in the top ten classes are outlined below.