GTI Daily Market Update: Friday, June 28, 2013 ...NSE-ASI Discounts as Fund Managers Balances Accounts The market discounted prior days’ gains as fund/portfolio managers balanced account for the month-end as well as the half-year. At stake on Friday was the need for the market to account (round-up) for the week, month and H1 transactions. As indicated by market breadth on Thursday, lead indicator, NSE-ASI shored up by over 0.20% within the early hours of the day. The uptrend eventually gave way as hybrid of activities related to account balancing took hold on the market. A total of 117 stocks were traded compared to 121 recorded on Thursday. Thirty-seven (37) stocks appreciated in value (bullish) compared to forty-nine (49) recorded a day earlier. Twenty-five (25) closed lower than their opening value (bearish) and higher than seventeen (17) recorded previously while fifty-five (55) closed flat (unchanged prices). In summary, NSE-ASI shed 303.95 absolute points, representing 0.83% depreciation to close at 36,164.30 points. Similarly, the market weight, indicated by Market Capitalization shed N95.91 billion representing 0.83% depreciation to close at N11.43 trillion. With exception NSE-10 Bank and NSE-10 Insurance indices that recorded 0.37% and 2.36% growths, every other sub-sector’s performance indices plunged considerably. Despite the downtrend, market breadth retained positive momentum at 1.48x. Friday’s downturn was impacted by losses recorded in the following mid and large capitalized stocks; Julius Berger (-0.75%), Total (-6.19%), FBNH (-0.56%), Nestle (-3.32%), Dangote Sugar (-0.78%), GT Bank (-0.37%), PZ Cussons (-1.73%), Dangote Cement (-3.19%), Flour Mills (-2.8%) and Presco (-0.61%). Market year-to-date (YTD) returns stand at +28.8%. Volume of shares transacted shored up to 774.84 million, valued at 4.75 billion in 5,402 deals compared to 357.27 million shares worth 4.09 billion exchanged in 6,419 deals on Thursday. Changes in the levels of activities are as reflected here; volume 116.88% and value 16.14%. Market Records Growth Week-ended June 28 -------------- -0.83% Month-ended June 28 ------------- -4.31% Half-year ended June 28 --------- +28.80% ...Visit gti.ng for detailed report and accompanied tables.
Posted on: Mon, 01 Jul 2013 08:28:37 +0000