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090212: Equity Market dips by -0.30% as bearish sentiments persist.

Category: Daily & Weekly Market Updates


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090212: Equity Market dips by -0.30% as bearish sentiments persist.

Nigerian stocks closed southwards for the third session in a row as sell pressure continue to depress market outlook further while investors tread cautiously just as market lacks any positive news that could drive sustainable uptrend.

Furthermore, Small Cap stocks predominantly contributed to the downtrend as the bears continue to exert their grip on the market, taking hits from Blue Chip, Oil & Gas, Insurance and Banking stocks while major NSE sectoral indices closed with negative statistics.

The continuous selling activities in Agriculture, Construction/Real Estate, Consumer Goods Financial Services, Healthcare, Industrial Goods, Oil & Gas and Services sectors impacted the outlook recorded today. Meanwhile, a low-key buying activity was witnessed in ICT sector.

In the same vein, the market capitalization of 186 first-tier equities depreciated by N19.68 billion as market sentiments remained negative. 95 equities were traded today as against previous 102 with more activities recorded in Financial Services, Consumer Goods, Services, Oil & Gas, Industrial Goods, Healthcare, Agriculture, Natural Resources, Construction/Real Estate and ICT sectors.

Today, four out of the five NSE sectoral indices closed negative as NSE 30 which basically measures the performance of blue chips maintained downtrend by -0.24%, NSE Oil & Gas retraced by -0.33% as NSE Food & Beverages closed uptick by +0.01% while NSE Insurance recorded -1.70% loss with NSE Banking recording -0.87% loss.

At the close of trading session, the NSE All-Share Index dips by -0.30% to close at 20,631.38 as against a decline by -0.48% recorded in the previous session to close at 20,693.84. In the same vein, market capitalization depreciated by N19.68billion (US$131.18million) to close at N6.50trillion (US$43.33billion) as against depreciation by N31.17billion (US$207.75million) recorded in preceding session to close at N6.52trillion (US$43.46billion).
 

The number of gainers at the close of trading session closed lower at 16 as against 11 recorded in the previous session while decliners closed higher at twenty-seven (27) as against twenty-eight (28) losers recorded in the previous trading day – suggesting a negative market breadth.
 

Today, the following company presented its result
 

1. International Breweries Plc: in its Q3 2011 result recorded positive turnover growth of 134.8% and positive PAT growth of 795.8%.
 

2. Avon Crown Caps Plc: in its Q3 2011 result recorded negative turnover growth of 3.0% and negative PAT growth of 6.0%
 

Financial Services sector led the market transaction volume today with 373.61 million units valued at N1.06 billion (US$7.08 million) exchanged in 1,933 deals as against 467.73 million units valued at N1.45 billion (US$9.68 million) exchanged in 2,384 deals recorded in previous session.
 

The volume recorded in the sector was driven by transaction in the shares Goldlink Insurance, UBA, Mutual Benefits Assurance, First Bank and Intercontinental Wapic Insurance Plc and the total volume of 264.20 million units valued at N579.94 million traded in five stocks accounted for 65.14% of the entire market volume and their value represented 35.97% of the market’s value.

Transaction volume on the exchange moved down by -19.99% to close at 405.59 million units exchanged in 3,508 deals as against an upbeat by +132.50% recorded in the previous trading to close at 506.95 million units exchanged in 3,987 deals.
 

Also, market value depreciated by -20.92% to close at N1.49 billion (US$9.96 million) as against depreciation by -16.95% recorded in the previous trading session to close at N1.89 billion (US$12.60 million).
 

Sectoral Performance (According to New Market Segmentation)
Financial Services sector led the market sectoral performance with 373.61 million units of shares traded in 1,933 trades within the sector, followed by Consumer Goods sector to come second on the chart with 16.45 million units traded in 829 trades while Services sector recorded 6.64 million units in 143 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 59.50% contribution to market turnover, followed by Medium Cap stocks with 25.56% while Large Cap stocks stake 14.94% to come last on the chart.


Among the Large cap stocks, DANGCEM, NB and GUARANTY Plc topped the 7 traded stocks in that class while FLOURMILL, IBTC and WAPCO Plc dominated Medium Cap of 22 traded stocks. Similarly, UBN, DANGFLOUR and GLAXOSMITH led 65 traded stocks in the Small Cap category in that order. See table below  

 

 

 

 SECTORAL REVIEW 

The Agriculture sector closed with one loser as against two gainers recorded in the previous session. OKOMUOIL closed with -4.99% after today’s trading session.

The Conglomerates sector closed with no price movement as against 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 one loser the same market posture recorded in previous session. JBERGER moved down by -3.57% after today’s trading session.

The Consumer Goods closed with four gainers to four losers compared with two gainers to three losers recorded in previous session. VITAFOAM moved northwards by +2.22% while DANGFLOUR moved southwards by -4.96% after today’s trading session.

The Financial Services sector closed with nine gainers to eleven losers as against five gainers to twelve losers recorded in the previous session. UNITYBNK moved up by +4.00% while PRESTIGE moved down by -4.76% after today’s trading session.

The Healthcare sector closed with one loser compared with two losers recorded in previous session. FIDSON closed by -4.11% after today’s trading session.

The Information & Communication Technology sector closed with one gainer as against no price movement recorded in the previous session. NCR closed positive by 4.95% after today’s trading session.

The Industrial Goods sector closed with two losers as against one gainer to two losers recorded in previous session. CCNN moved southwards by -3.12% after today’s trading session.

The Natural Resources sector closed with no price movement the same market outlook recorded in previous session. All stocks in the sector closed flat after today’s trading session.

The Oil & Gas sector closed with one gainer to three losers as against one gainer to one loser recorded in previous session. ETERNAOIL closed by +4.95% while CHEVRON closed by -4.99% after today’s trading session.

The Services sector closed with one gainer to three losers as against three losers recorded in the previous session. NAHCO closed positive by 3.73% while AIRSERVICE closed negative by 4.57% after today’s trading session.

Further analysis on Acquiring Banks showed that the share prices of Access Bank Plc closed negative with +0.85% as ETI closed positive with +1.90% while FCMB Plc closed downbeat by -3.61%. Sterling Bank Plc moved northwards by +2.41% while Union Bank Plc also closed flat after today’s trading session. See the tracking table below.
 

Acquiring Banks 

  

Earnings Report for Banks 

  

Top Trades 

  

Sectoral Index 

  

Market Outlook by Capitalisation 

  

Top Ten Gainers of the day. 

  

Top Ten Losers of the day. 

  

Corporate Declaration
 

  

Follow the link to get the latest banking results details  

analyst@proshareng.com , 00234-1-7624131, February 9th, 2012; 17.40hrs



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