060712: All-Share Index records +2.37% gains in the week; sustains the rally
Category: Daily & Weekly Market Updates
The bulls continue with their impressive bargain activities as profitable transactions dominate in most trading days of the week while the key benchmark indicator, NSE ASI, closed above 22,000 psychological lines with market YTD performance currently standing at +6.66%
Furthermore, the bears resurfaced to dominate market activities as ASI dips by -0.13% to open the first trading of the week negative while market resumed northwards movement in the second session to close upbeat by +0.55% amid slightly low market turnover while market sentiments remained weak due to continuous volatile sessions witnessed in recent sessions.
The bulls continue to dominate market activities in the third session as NSE ASI firms up by +1.11% due to intense bargain activities witnessed across the main board. Market sustained the rally in the fourth session as market recorded +0.55% gains while the key benchmark indicator closed above 22,000 psychological lines.
Conversely, trading activities on Friday closed northwards as sentiments remained optimistic. Consequently, the key benchmark index inches up by +0.28% while market closed the week with aggregate gain of +2.37%.
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 -14.10% losseswhile Union Bank Plc leads the chart with +82.30% gain. However, Sterling Bank Plc recorded -8.66% losses while ETI also closed negative with -10.45% loss recorded. See the tracking table below
However, the All-Share Index in the week under review moved up by +2.37% to close at 22,110.91 as against an upbeat by +0.96% recorded last week to close at21,599.57.
In the same vein, the market capitalization in the week appreciated by N163.24 billion (US$1.08 billion) to close at N7.05 trillion (US$47.04 billion) as against appreciation by N65.37 billion (US$435.84 million) recorded last week to close at N6.89 trillion (US$ 45.95billion).
The total volume traded in the week closed at 1.00 billion units valued at N8.50 billion (US$56.68 million) compared with 5.38 billion units valued at N22.46 billion (US$149.73 million) exchanged in 17,019 deals last week. The volume transaction in the week when compared with the previous week data moved down by -81.29% as against upwards movement by +482.31% recorded last week. Weekly value also went down by -62.14% as against positive position of +256.88% recorded last week.
The volume traded in the top ten most traded stocks for the week represented 61.08% of the entire market volume transactions and their total value accounted for 49.70% 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 695.29 million units, valued at N4.39billion and exchanged in 10,821 deals compared with 4.89 million units, valued at N18.91billion and exchanged in 9,509 deals in the preceding week. The volume traded in the sector accounted for 69.06% of the entire market compared with 91.00% of the ratio recorded last week.
First Bank Plc led the market volume for the week to displace Union 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.
Consumer Goods sector followed with 76.92 million units valued at N2.97 million and exchanged in 3,398 deals compared with 58.11 million units, valued at N2.19 billion and exchanged in 3,028 recorded in the sector last week.
NSE All-Share Index opened the week on a negative note with -0.13% loss, bullish sentiments dominated the week while ASI closed positive on Friday by +0.28% with positive market breadth.
In the week under review, all NSE sectoral Indices closed positive as NSE Banking recorded the highest gain by +11.81% while NSE Oil & Gas closed with the lowest gain by +1.75%.
Top 10 Gainers of the week
The numbers of gainers in the week closed at thirty-eight (38) compared with thirty (30) appreciations recorded last week. Livestock Feeds Plc topped the gainers chart for the week with +24.24% appreciations. Other gainers in the top ten appreciation class are outlined below.
Top 10 Losers of the week
Twenty-eight (28) stocks recorded price decline of different magnitude in the week under review compared with thirty-four (34) stocks declined in the previous week. RT Briscoe Plc topped the losers chart for the week with-9.95% depreciation. Other losers in the top ten classes are outlined below.