070212: NSE Index slides by -0.41%; Afromedia rewards with cash and bonus dividends.
Category: Daily & Weekly Market Updates
Trading activities on the Nigerian bourse close downbeat after two sessions of positive outlook to open the first trading day of the week after the Eid-El-Maoulud celebration pessimistic while market sentiments closed negative as envisaged in our previous report.
Furthermore, the key benchmark sheds 84.89 basis points to close in the negative territory, taking hits from Blue Chip, Food & Beverages, Insurance and Banking stocks while major NSE sectoral indices closed with negative figures.
The renewed selling activities in Consumer Goods, Financial Services, Healthcare, ICT, Industrial Goods and Services sectors impacted the outlook recorded today. Meanwhile, moderate buying activitieswas witnessed in Agriculture, Natural Resources and Oil & Gas sectors.
In the same vein, the market capitalization of 186 first-tier equities depreciated by N26.75 billion as market sentiments turned negative. 98 equities were traded today as against previous 110 with more activities recorded in Financial Services, Consumer Goods, Services, ICT, Oil & Gas, Industrial Goods, Agriculture, Healthcare and Conglomerates sectors.
Today, four out of the five NSE sectoral indices closed positive as NSE 30 which basically measures the performance of blue chips retraced by -0.54%, NSE Oil & Gas closed northwards by +1.06% as NSE Food & Beverages closed downtick by -0.08% while NSE Insurance recorded -1.57% loss with NSE Banking recording -1.33% loss.
At the close of trading session, the NSE All-Share Index dips by -0.41% to close at 20,792.75 as against an upbeat by +0.27% recorded in the previous session to close at 20,877.64. In the same vein, market capitalization depreciated by N26.75billion (US$178.30million) to close at N6.55trillion (US$43.67billion) as against depreciation by N17.53billion (US$116.86million) recorded in preceding session to close at N6.57trillion (US$43.84billion).
The number of gainers at the close of trading session closed lower at 15 as against 20 recorded in the previous session while decliners closed higher at twenty-seven (27) as against twenty-seven (27) losers recorded in the previous trading day – suggesting a negative market breadth.
Today, the following companies presented their results
1. University Press Plc: in its Q3 2011 result recorded positive gross earnings growth by 4.9% and positive PAT growth by 6.9%.
2. Northern Nigeria Flour Mills Plc: in its Q3 2011 result recorded positive gross earnings growth by 21.5% and negative PAT growth by 52.4%.
3. UNIC Insurance Plc: in its Q3 2011 result recorded negative gross earnings growth by 34.3% and negative PAT growth by 52.9%.
4. Afromedia Plc: in its Audited 2011 result recorded negative gross earnings growth by 13.2% and negative PAT growth by 168.4%. The company proposed dividend of N0.025k and 1 for 20 Bonus. The closure is 20th April, 2012 while payment date is 24th August, 2012.
Also, the following company presented its forecast
1. Standard Alliance Insurance Plc Q1 2012: Premium Income N1,648, Claims Paid N-329.688, Investment Income N53.384, Profit Before Tax N360.192, Forecast Taxation N-23.075, Profit After Taxation 336.217
Financial Services sector led the market transaction volume today with 127.42 million units valued at N832.07 million (US$5.54 million) exchanged in 2,200 deals as against 338.67 million units valued at N1.12 billion (US$7.46 million) exchanged in 2,012 deals recorded in previous session.
The volume recorded in the sector was driven by transaction in the shares First Bank, UBA, Access Bank, Zenith Bank and Fidelity Bank Plc and the total volume of 86.99 million units valued at N579.94 million traded in five stocks accounted for 39.90% of the entire market volume and their value represented 25.47% of the market’s value.
Transaction volume on the exchange moved down by -48.74% to close at 218.04 million units exchanged in 3,796 deals as against an upbeat by +32.88% recorded in the previous trading to close at 425.38 million units exchanged in 3,758 deals.
Also, market value appreciated by -7.82% to close at N2.27 billion (US$15.17 million) as against depreciation by -34.45% recorded in the previous trading session to close at N2.47 billion (US$16.46 million).
Sectoral Performance (According to New Market Segmentation)
Financial Services sector led the market sectoral performance with 127.42 million units of shares traded in 2,200 trades within the sector, followed by Consumer Goods sector to come second on the chart with 29.79 million units traded in 742 trades while Services sector recorded 26.92 million units in 149 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 Medium Cap stocks according to new market segmentation topped today's market activity with 38.92% contribution to market turnover, followed by Small Cap stocks with 36.60% while Large Cap stocks stake 24.48% to come last on the chart.
Among the Large cap stocks, DANGCEM, NB andGUARANTY Plc topped the 7 traded stocks in that class while FLOURMILL, IBTC and WAPCO Plc dominated Medium Cap of 23 traded stocks. Similarly, UBN, ETRANZACT and GLAXOSMITH led 67 traded stocks in the Small Cap category in that order. See table below
The Agriculture sector closed with two gainers as against one loser recorded in the previous session. PRESCO closed with +4.71% after today’s trading session.
The Conglomerates sector closed with no price movement as against two gainers to one loser recorded in the previous session. All stocks in the sector closed flat after today’s trading session.
The Construction/Real Estate sector closed with no price movement as against two losers recorded in previous session. All price in the sector closed flat after today’s trading session.
The Consumer Goods closed with three gainers to five losers compared with one gainer to nine losers recorded in previous session. INTERBREW moved northwards by +3.76% while VITAFOAM and HONEYFLOUR moved southwards by -4.76% after today’s trading session.
The Financial Services sector closed with four gainers to thirteen losers as against ten gainers to seven losers recorded in the previous session. UNITYBNK moved up by +4.00% while GOLDINSURE moved down by -4.69% after today’s trading session.
The Healthcare sector closed with two losers as against no price movement recorded in previous session. FIDSON closed by -3.80% after today’s trading session.
The Information & Communication Technology sector closed with one loser as against no price movement recorded in the previous session. ETRANZACT closed by -4.86% after today’s trading session.
The Industrial Goods sector closed with one gainer to one loser as against four gainers to loser recorded in previous session. DANGCEM moved northwards by 0.03% while BAGCO moved southwards by -2.30% after today’s trading session.
The Natural Resources sector closed with one gainer as against no price movement recorded in previous session. BOCGAS closed negative by 119% after today’s trading session.
The Oil & Gas sector closed with two gainers to one loser as against one gainer to two losers recorded in previous session. OANDO closed by +4.97% while JAPAULOIL closed by -4.88% after today’s trading session.
The Services sector closed with two gainers to four losers as against two gainers to four losers recorded in the previous session. RTBRISCOE moved northwards by +4.35% while IKEJAHOTEL moved southwards by -4.93% after today’s trading session.
Further analysis on Acquiring Banks showed that the share prices of Access Bank Plc closed positive with +3.26%while ETI and FCMB Plc both closed negative with -1.72% and -0.95% respectively. Sterling Bank Plc moved southwards by -2.38% while Union Bank Plc also closed flat after today’s trading session. See the tracking table below.