Today, Nigerian bourse records 6days uninterrupted bargain hunting as optimism level continued to garner momentum along with improved Naira votes while market hits above six weeks high to return to 27,000.00 psychological line in style.
The outlook in the last 7days revealed sustained and significant increase in risk appetite as we have recently observed gradual and consistent growth in cautious and value trading towards more active stocks across the board.
In addition, the key benchmark indices record above 200 basis points to extend five days gain, taking supports mainly from both Medium and Large CAP stocks,
In the same vein, the market capitalization of 187 first-tier equities appreciated by N72.88 billion as market sentiments remained positive. 97 equities were traded today as against previous 99 with more activities recorded in Financial Services, Consumer Goods and Conglomerates sectors.
At the close of trading session, the NSE All-Share Index extends gains by +0.85% to close at 27,050.20 as against uptrend by +0.56% recorded in the previous session to close at 26,822.09. In the same vein, market capitalization appreciated by N72.88 billion (US$455.53 million) to close at N8.64 trillion (US$54.01 billion) as against appreciation by N48.04 million (US$300.28 million) recorded in preceding session to close at N8.57 trillion (US$53.56 billion).
The number of gainers at the close of trading session closed lower at 26 as against 31 recorded in the previous session while decliners also closed higher at seventeen (17) as against eleven (11) losers recorded in the previous trading day – suggesting a positive market breadth.
Today, all NSE sectoral indices closed positive as NSE 30 which basically measures the performance of blue chips extends gains by +1.00%, NSE Oil & Gas sustains gains by +0.07% as NSE Food & Beverages climbed further by +1.42% while NSE Insurance retraced by +1.28% as NSE Banking climbed further by +0.94%. The NSE LII sustained gains by +0.96%
As usual, Financial sector led the market transaction volume today with 305.54 million units valued at N1.93 billion (US$12.10 million) exchanged in 2,821 deals as against 404.41 million units valued at N1.70 billion (US$10.68 million) exchanged in 2,662 deals recorded in previous session.
The volume recorded in the sector was driven by transaction in the shares of LAWUNION, ZENITHBANK, GUARANTY, ACCESS and RESORTSAL Plc and the total volume of 208.98 million units valued at N1.40 billion traded in the five stocks accounted for 54.63% of the entire market volume and their value represented 53.86% of the market’s value.
Transaction volume on the exchange moved down by -14.63% to close at 378.87 million units exchanged in 4,601 deals as against uptrend by +93.80% recorded in the previous trading to close at 443.83 million units exchanged in 4,042 deals.
Also, market value appreciated by +18.43% to close at N2.60 billion (US16.29 million) as against depreciation by -20.53% recorded in the previous trading session to close at N2.20 billion (US13.76 million).
Sectoral Performance (According to New Market Segmentation)
Financial Services sector led the market sectoral performance with 305.54 million units of shares traded in 2,821 trades within the sector, followed by Conglomerates sector to come second on the chart with 28.67 million units traded in 190 trades while Consumer Goods sector recorded 13.60 million units in 803 trades to close with third position on the chart. See the full table below
Market Outlook by Classification
At the end of today’s session, it was observed that Small Cap stocks according to new market segmentation topped today’s market activity with 56.09% contribution to market turnover, followed by Medium Cap stocks with 16.66% while Large Cap stocks stake 27.25% to come last on the chart.
Among the Large cap stocks, ZENITHBANK, ACCESS and GUARANTY topped the 11 traded stocks in that class while UBA, DIAMONDBNK and FIDELITYBK Medium Cap of 21 traded stocks. Similarly, LAWUNION, TRANSCORP and RESORTSAL led 65 traded stocks in the Small Cap category in that order. See table below
The Agriculture sector closed with two gainers to one gainer as against one gainer recorded in the previous session.
The Conglomerates sector closed with one loser as against with one loser recorded in the previous session.
The Construction/Real Estate sector with closed flat as against one gainer recorded in the previous session.
The Consumer Goods sector closed with three losers to four gainers as against two losers to six gainers recorded in previous session.
The Financial Services sector closed with eleven gainers to five losers as against twelve gainers to four losers recorded in the previous session.
The Healthcare sector closed with one loser compared to with closed two losers to one gainer recorded in previous session.
The ICT sector closed with one loser compared with one gainer recorded in previous session.
The Industrial Goods sector closed with three gainers to three losers as against two gainers to two losers recorded in previous session.
The Natural Resources sector closed with no price movement as against no price movement recorded in previous session.
The Oil & Gas sector closed with two gainers to one loser as against two gainers recorded in previous session.
The Services sector closed with four gainers as against with one gainer recorded in the previous session.
Further analysis on Acquiring Banks since transaction date showed that the share price of Access Bank Plc has recorded +82.22% gains with FCMB recording -14.36% losses while Union Bank Plc leads the chart with +257.89% gains. However, Sterling Bank Plc recorded +26.77% gains while ETI closed positive with -5.74% loss recorded.