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130212: NSE Index dips by -0.19% as investors remain cautious

Category: Daily & Weekly Market Updates


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130212: NSE Index dips by -0.19% as investors remain cautious

After a week dominated by unprofitable transactions, equity market sustained its losing streak for the fifth consecutive session to open the first trading day of the week negative amidst slightly improved volume turnover and Naira votes while NSE Revoked licenses of some dealing member firms in its brokers cleansing as part of overall market confidence re-building.

Furthermore, the key benchmark indices shed 40.02 basis points to close southwards as sentiments remained unchanged, taking hits from Blue Chip and Banking stocks while major NSE sectoral indices closed with mixed stance.

The continuous selling activities in Agriculture, Construction/Real Estate, Consumer Goods Financial Services and Services sectors impacted the outlook recorded today. Meanwhile, moderate buying activities were witnessed in Conglomerates, Industrial Goods and Oil & Gas sector.

In the same vein, the market capitalization of 186 first-tier equities depreciated by N12.61 billion as market sentiments remained negative. 93 equities were traded today as against previous 94 with more activities recorded in Financial Services, Consumer Goods, Oil & Gas, Services, Construction/Real, Agriculture, Industrial Goods, Conglomerates, Healthcare and ICT sectors.

Today, two out of the five NSE sectoral indices closed negative as NSE 30 which basically measures the performance of blue chips retraced by -0.22%, NSE Oil & Gas also retraced by +0.01% as NSE Food & Beverages closed uptick by +0.13% while NSE Insurance recorded +0.26% gain with NSE Banking recording the highest loss by -0.77%.

At the close of trading session, the NSE All-Share Index dips by -0.19% to close at 20,583.61 as against a decline by -0.04% recorded in the previous session to close at 20,623.63. In the same vein, market capitalization depreciated by N12.61billion (US$84.05million) to close at N6.48trillion (US$43.23billion) as against depreciation by N2.44billion (US$16.28million) recorded in preceding session to close at N6.49trillion (US$43.31billion).
 

The number of gainers at the close of trading session closed lower at 10 as against 15 recorded in the previous session while decliners closed higher at seventeen (17) as against thirty (30) losers recorded in the previous trading day – suggesting a negative market breadth.
 

The Nigerian Stock Exchange released the list of Dealing Member Firms whose licenses were either revoked, considered inactive or/and unactivated as at Friday, 10th February, 2012.
 

Financial Services sector led the market transaction volume today with 230.20 million units valued at N893.25 million (US$5.95 million) exchanged in 1,764 deals as against 158.27 million units valued at N641.46 million (US$4.27 million) exchanged in 1,855 deals recorded in previous session.
 

The volume recorded in the sector was driven by transaction in the shares UBA, FCMB, Zenith Bank, Skye Bank and Custodian & Allied Insurance Plc and the total volume of 190.46 million units valued at N674.81 million traded in five stocks accounted for 75.53% of the entire market volume and their value represented 48.54% of the market’s value.

Transaction volume on the exchange moved up by +19.45% to close at 252.19 million units exchanged in 3,123 deals as against a decline by -47.95% recorded in the previous trading to close at 211.12 million units exchanged in 3,875 deals.

 

Also, market value appreciated by +3.37% to close at N1.39 billion (US$9.26 million) as against depreciation by -10.07% recorded in the previous trading session to close at N1.34 billion (US$9.96 million).
 

Sectoral Performance (According to New Market Segmentation)
Financial Services
sector led the market sectoral performance with 230.20 million units of shares traded in 1,764 trades within the sector, followed by Consumer Goods sector to come second on the chart with 7.32 million units traded in 702 trades while Oil & Gas sector recorded 5.33 million units in 317 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 67.41% contribution to market turnover, followed by Small Cap stocks with 16.77% while Large Cap stocks stake 15.82% 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 UNILEVER, IBTC and WAPCO Plc dominated Medium Cap of 21 traded stocks. Similarly, HONYFLOUR, DANGFLOUR and GLAXOSMITH led 64 traded stocks in the Small Cap category in that order. See table below  


 

SECTORAL REVIEW

 

The Agriculture sector closed with one loser the same market posture recorded in the previous session. LIVESTOCK closed with -4.71% after today’s trading session.

The Conglomerates sector closed with one gainer to one loser as against one loser recorded in the previous session. AGLEVENT closed positive by 4.32% while UACN closed negative by 0.55% after today’s trading session.

The Construction/Real Estate sector closed with two losers as against two losers recorded in previous session. JBERGER moved down by -4.99% after today’s trading session.

The Consumer Goods closed with three gainers to four losers compared with five gainers to seven losers recorded in previous session. CADBURY moved northwards by +3.83% while HONYFLOUR moved southwards by -4.91% after today’s trading session.

The Financial Services sector closed with two gainers to seven losers as against four gainers to ten losers recorded in the previous session. GOLDENINSURE moved up by +5.00% while UBA moved down by -4.97% after today’s trading session.

The Healthcare sector closed with no price movement compared with one loser recorded in previous session. All stocks in the sector closed flat after today’s trading session.

The Information & Communication Technology sector closed with no price movement as against no price movement recorded in the previous session. All stocks in the sector closed flat after today’s trading session.

The Industrial Goods sector closed with one gainer as against one gainer to three losers recorded in previous session. BAGCO moved northwards by +3.29% 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 as against one gainer to three losers recorded in previous session. OANDO closed by +0.06% after today’s trading session.

The Services sector closed with one gainer to two losers as against three gainers to two losers recorded in the previous session. TRANSCORP closed positive by 4.00% while UPL closed negative by 2.91% after today’s trading session.

Further analysis on Acquiring Banks showed that the share prices of Access Bank Plc closed negative with -1.02% as ETI Plc closed flat while FCMB Plc also closed flat. Sterling Bank Plc moved southwards by -4.71% while Union Bank Plc 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. 

    

Follow the link to get the latest banking results details 

analyst@proshareng.com , 00234-1-7624131, February 13th, 2012; 17.30hrs



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