The bearish trend that set in at the end of trading session yesterday was short-lived as equities market returned to positive outlook at the close of trading today. While the market volume and value declined, the market performance indices grew.
This trend might be an indication that the activities of speculators in the market no longer hold sway as majority of investors in the market may most probably be well disposed to holding the stocks for medium to longer term views, hence the rebound to positive after a day decline.
Investors seemed to react to the United Bank for Africa Plc common year end result posted yesterday as sell pressures on the stock of the company consequently led to the price decline recorded in the stock at the end of the trading session today. However, Zenith Bank Plc price also resumed uptrend movement with the market today.
At the close of trading today, the All-Share Index (ASI) closed at 26,219.74 to record +0.98% appreciations as against 25,966.25 ASI figures of the previous day to record -1.69% depreciations.
Market capitalization at the close of trading session today appreciated by N61.312 billion (US$409.568 million) to close at N6.341 trillion (US$42.364 billion) as against N107.808 billion (US$720.158 million) depreciation recorded yesterday to close at N6.280 trillion (US$41.955 billion).The market eventually closed with advancers and decliners’ ratio of 3.1:1
Sectoral overview at the close of trading today showed that positive performance continued in Presco while FTN Cocoa and Livestock in the Agriculture shed weight, even as Nahco and Air Services Plc in Airline services sector sustained their price depreciations at the end of trading session. However, RT Briscoe price in Automobile sector maintained northward movement. The performance of stocks in the Building Materials sector closed on a positive note as all the price changes recorded were positive. The outlook of banking sector improved today compared with the trend recorded in the sector yesterday; the sector recorded mixtures of both gainers and losers.
In Breweries sector, Nigerian Breweries Plc rebounded to price growth today as against the negative trend in the last two trading days even as International Breweries Plc maintained gainer status at the close of trading session. DN Meyer in the Chemical and Paints sector closed among the highest losers in the market today with -5% maximum price decline while other stocks retained their previous closed prices. Positive trend continues in the shares of Julius Berger and Costain in the Construction sector. In the Conglomerate, PZ recorded price decline while AG Leventis, Unilever and UACN recorded price appreciations. In Food & Beverages sector, apart from Cadbury that recorded price depreciation, other price changes recorded were on the positive note as against noticeable sell pressures witnessed in the sector yesterday. Fidson in the Healthcare sector shed price while Evans Medicals gained marginally. Capital Hotel price remained unchanged and Ikeja Hotel sustained their price growths today. In the Petroleum Marketing sector, only Eternal Oil and Beco Petroleum gained marginally while others traded in the sector today closed at their previous closed prices.
The total transaction volume at the close of market session today declined by -48.35% to close at 408.781 million units exchanged in 10,252 deals as against positive growth of +59.20% to close at 791.438 million units exchanged in 12,183 deals recorded yesterday. Market value also nosedived by -63.50% to close at N2.754 billion (US$18.399 million) as against value growth by +79.68% recorded yesterday to close at to close at N7.547 billion (US$50.414 million). At the close of trading, out of 141 stocks traded today, 53 advanced, 31 declined and 31 retained their previous day’s prices compared with 47 gainers, 43 decliners and 51 unchanged recorded yesterday. Unilever Nigeria Plc topped the gainers chart for the day with +5% price appreciations, while on the other hand DN Meyer Plc emerged the highest loser with price decline by -5%.
The total volume traded in the shares of top five trades at the close of trading session stood at 99.438 million units valued at N385.809 million (US$2.577 million). Gold Link Insurance topped the market volume chart for the day with 25.213 million units valued at N20.402 million exchanged in 72 deals; the stock’s price at the end of trading session closed higher by +3.80%. Japaul Plc followed the chart with 22.841 million units valued at N38.327 million exchanged in 385 deals; the share price of the company shed weight by -4.71%. Fidelity Bank Plc after trading 19.029 million units valued at N63.791 million exchanged in 240 deals closed higher marginally by +4.80%. Guaranty Trust Assurance Plc stock price recorded -3.95% price decline after trading 18.726 million units valued at N63.589 million exchanged in 57 deals. United Bank for Africa Plc recorded the fifth most traded volume figure of 13.629 million units valued at N199.700 million exchanged in 293 deals; the price of the stock shed weight by -2.63%. The volume and value of the top five trades for the day accounted for 24.33% and 14.01% of the market volume and value in that other.
Two of the four sectoral indexes appreciated at the close of trading today: NSE-Banking Index appreciated by +1.13% to close at 442.28. NSE-Insurance Index declined by -1.79% to close at 212.96, NSE-Food and Beverages Index appreciated by +1.23% to close at 741.62, NSE-Oil and Gas Index remained unchanged at 305.95 and NSE-30 Index appreciated by +1.23% to close at 1,053.
Spring Bank Plc, AG Leventis Plc, Cutix Plc, NNFM Plc, UTC Plc, Evans Medical Plc, Ikeja Hotel Plc, Daar Communications Plc and Eternal Oil Plc closed on strong bid.
However, Livestock Plc, Unity Bank Plc, DN Meyer Plc, Oasis Insurance Plc and Wapic Insurance Plc closed on strong offer.
Roads Nigeria Plc audited result for the period ended 31st March, 2009: The company turnover grew by +28.79% to close at N3.124 billion compared with N2.426 billion recorded in the previous year’s comparable period. Profit after tax rose by +44.63% to close at N59.796 million compared with N41.344 million recorded last year. Working capital situation declined by -282.76% to close at (858.245 million) compared with (N224.245 million) of the previous year. Net assets grew by +49.47% to close at N162.542 million compared with N108.746 million of the previous year.
Secure Electronic Technology Plc forecast result for the first quarter to June 30th, 2010 showed Turnover of N5.074 billion and Profit after tax of N420.530 million.
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