150212: Market CAP sheds N106.32bn as Dangote Cement Plc records -5.00% loss
Category: Daily & Weekly Market Updates
Equity market resumed downtrend after a day of positive stance as investors tread cautiously amid weak market sentiments while the downwards movement recorded in the shares of Dangote cement Plc, market leader by capitalisation, also contributed to the depressing position witnessed.
Furthermore, the key benchmark indices recommenced southwards movement as sentiments turned negative, taking hits from Blue Chip, Food & Beverages and Insurance stocks while major NSE sectoral indices closed with mixed figures as against previous outlook.
The renewed selling activities in Construction/Real Estate, Healthcare, Industrial Goods and Services sectors impacted the outlook recorded today.Meanwhile, bargain hunting was witnessed in Agriculture, Conglomerates,Financial Services and Oil & Gas sector.
In the same vein, the market capitalization of 186 first-tier equities depreciated by N106.32 billion as market sentiments turned red. 96 equities were traded today as against previous 93 with more activities recorded in Financial Services, Consumer Goods, Services, Oil & Gas, Conglomerates, Industrial Goods, Agriculture, Healthcare and Construction/Real Estate sectors.
Today, three out of the five NSE sectoral indices closed negative as NSE 30 which basically measures the performance of blue chips retraced by -1.38%, NSE Oil & Gas closed flat as NSE Food & Beverages closed downtick by -0.88% while NSE Insurance recorded -0.48% loss with NSE Banking recording the only gain by +0.55%.
At the close of trading session, the NSE All-Share Index dips by -1.63% to close at 20,329.62 as against an upbeat by +0.41% recorded in the previous session to close at 20,667.00. In the same vein, market capitalization depreciated by N106.32billion (US$708.61million) to close at N6.40trillion (US$42.69billion) as against appreciation by N26.28billion (US$175.15million) recorded in preceding session to close at N6.51trillion (US$43.40billion).
The number of gainers at the close of trading session closed lower at 18 as against 17 recorded in the previous session while decliners closed higher at twenty-nine (29) as against twenty-six (26) losers recorded in the previous trading day – suggesting a negative market breadth.
Today, the following company presented its result
1. Academy Press Plc: in its Q3 2011 result recorded negative turnover growth of 7.3% and negative PAT growth of 49.8%.
As usual, Financial Services sector led the market transaction volume today with 184.57 million units valued at N634.23 million (US$4.22 million) exchanged in 1,802 deals as against 799.63 million units valued at N2.00 billion (US$13.35 million) exchanged in 2,183 deals recorded in previous session.
The volume recorded in the sector was driven by transaction in the shares UBA, First Bank, Diamond Bank, Fidelity Bank and Guaranty Trust Bank Plc and the total volume of 153.91 million units valued at N496.28 million traded in five stocks accounted for 69.16% of the entire market volume and their value represented 35.17% of the market’s value.
Transaction volume on the exchange moved down by -74.13% to close at 222.55 million units exchanged in 3,330 deals as against an upbeat by +241.12% recorded in the previous trading to close at 860.28 million units exchanged in 3,784 deals.
Also, market value depreciated by -44.91 to close at N1.41 billion (US$9.40 million) as against appreciation by +84.25% recorded in the previous trading session to close at N2.56 billion (US$17.06 million).
Sectoral Performance (According to New Market Segmentation)
Financial Services sector led the market sectoral performance with 184.57 million units of shares traded in 1,802 trades within the sector, followed by Consumer Goods sector to come second on the chart with 13.70 million units traded in 713 trades while Services sector recorded 11.63 million units in 203 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 68.43% contribution to market turnover, followed by Small Cap stocks with 16.59% while Large Cap stocks stake 14.97% 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 21 traded stocks. Similarly, HONYFLOUR, UBN and GLAXOSMITH led 67 traded stocks in the Small Cap category in that order. See table below
The Agriculture sector closed with one gainer as against no price movement recorded in the previous session. LIVESTOCKS closed positive by 4.94% after today’s trading session.
The Conglomerates sector closed with one gainer as against one loser recorded in the previous session. UACN closed positive by 1.96% 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 -4.97% after today’s trading session.
The Consumer Goods closed with two gainers to eight losers compared with two gainers to four losers recorded in previous session. CADBURY moved northwards by +2.88% while CHAMPION moved southwards by -4.96% after today’s trading session.
The Financial Services sector closed with nine gainers to nine losers as against nine gainers to six losers recorded in the previous session. STERLNBANK moved up by +5.00% while PRESTIGE moved down by -5.00% after today’s trading session.
The Healthcare sector closed with three losers compared with one gainer to two losers recorded in previous session. MORISON closed negative by 4.90% after today’s trading session.
The Information & Communication Technology sector closed with no price movement the same market outlook recorded in the previous session. All stocks in the sector closed flat after today’s trading session.
The Industrial Goods sector closed with four losers as against one gainer to four losers recorded in previous session. CUTIX and DANGCEM moved southwards by -5.00% after today are trading session.
The Natural Resources sector closed with no price movement the same market posture recorded in previous session. All stocks in the sector closed flat after today’s trading session.
The Oil & Gas sector closed with two gainers as against two gainers to two losers recorded in previous session. ETERNAIOL closed by +4.92% after today’s trading session.
The Services sector closed with two gainers to four losers as against two gainers to five losers recorded in the previous session. REDSTAREX closed positive by 3.90% while AIRSERVICE closed negative by 5.00% after today’s trading session.
Further analysis on Acquiring Banks showed that the share prices of Access Bank Plc closed positive with +4.07% as ETI Plc closed negative with -0.50% while FCMB Plc closed positive +0.50%. Sterling Bank Plc moved northwards by +5.00% while Union Bank Plc closed flat after today’s trading session. See the tracking table below.