160212: Equity Market records modest loss; ASI dips by -0.08%
Category: Daily & Weekly Market Updates
Today, Nigerian Stocks closed lower for the second session in a row as pessimistic trading continue to dominate market activities with NSE Index closing marginal negatively to further dip market YTD performance to -1.73% while market sentiments remained bearish amid improved volume turnover and Naira votes.
Furthermore, the key benchmark indices shed 15.62 basis points to preserve the southwards trend as sentiments remained unchanged, taking hits from Blue Chip, Food & Beverages and Oil & Gas stocks while major NSE sectoral indices closed with mixed statistics as against previous viewpoint.
The continuous selling activities in Conglomerates, Consumer Goods, Healthcare Oil & Gas and Services sectors impacted the outlook recorded today. Meanwhile, bargain hunting was witnessed in Agriculture,Financial Services and Industrial Goods sector.
In the same vein, the market capitalization of 186 first-tier equities depreciated by N4.89 billion as market sentiments remained negative. 92 equities were traded today as against previous 96 with more activities recorded in Financial Services, ICT, Services, Consumer Goods,Oil & Gas, Agriculture, Industrial Goods, Conglomerates, 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 maintained downtrend by -0.09%, NSE Oil & Gas closed downbeat by -1.70% as NSE Food & Beverages also closed downtick by -1.01% while NSE Insurance recorded +0.23% gain with NSE Banking recording the highest gain by +1.12%.
At the close of trading session, the NSE All-Share Index dips by -0.08% to close at 20,314.00 as against an upbeat by -1.63% recorded in the previous session to close at 20,329.62. In the same vein, market capitalization depreciated by N4.89billion (US$32.64million) to close at N6.40trillion (US$42.66billion) as against depreciation by N106.32billion (US$708.61million) recorded in preceding session to close at N6.40trillion (US$42.69billion).
The number of gainers at the close of trading session closed lower at 17 as against 18 recorded in the previous session while decliners closed higher at twenty-three (23) as against twenty-nine (29) losers recorded in the previous trading day – suggesting a negative market breadth.
Today, the following company presented its result
1. Neimeth International Pharmaceutical Plc: in its Q3 2011 result recorded negative turnover growth of 19.80% and positive PAT growth of 49.90%.
As usual, Financial Services sector led the market transaction volume today with 583.64 million units valued at N1.71 billion (US$11.39 million) exchanged in 2,246 deals as against 184.57 million units valued at N634.23 million (US$4.22 million) exchanged in 1,802 deals recorded in previous session.
The volume recorded in the sector was driven by transaction in the shares UBA, Skye Bank, FCMB, First Bank and Access Bank Plc and the total volume of 524.27 million units valued at N1.46 billion traded in five stocks accounted for 74.81% of the entire market volume and their value represented 64.59% of the market’s value.
Transaction volume on the exchange moved up by +214.91% to close at 700.82 million units exchanged in 3,513 deals as against a decline by -74.13% recorded in the previous trading to close at 222.55 million units exchanged in 3,330 deals.
Also, market value appreciated by +61.28 to close at N2.27 billion (US$15.16 million) as against depreciation by -44.91% recorded in the previous trading session to close at N1.41 billion (US$9.40 million).
Sectoral Performance (According to New Market Segmentation) Financial Services sector led the market sectoral performance with 583.64 million units of shares traded in 2,246 trades within the sector, followed by ICT sector to come second on the chart with 80.10 million units traded in 6 trades while Services sector recorded 11.66 million units in 124 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 75.56% contribution to market turnover, followed by Small Cap stocks with 19.79% while Large Cap stocks stake 4.65% to come last on the chart.
Among the Large cap stocks, DANGCEM, NB andGUARANTY Plc topped the 7 traded stocks in that class while ACCESS, IBTC and WAPCO Plc dominated Medium Cap of 21 traded stocks. Similarly, HONYFLOUR, UBN and GLAXOSMITH led 63 traded stocks in the Small Cap category in that order. See table below
SECTORAL REVIEW The Agriculture sector closed with one gainer the same market outlook recorded in the previous session. LIVESTOCKS closed positive by 4.71% after today’s trading session.
The Conglomerates sector closed with one loser as against one gainer recorded in the previous session. AGLEVENT closed negative by 4.83% after today’s trading session.
The Construction/Real Estate sector closed with no price movement as against one loser recorded in previous session. All stocks in the sector closed flat after today’s trading session.
The Consumer Goods closed with one gainer to nine losers compared with two gainers to eight losers recorded in previous session. PZ moved northwards by +1.28% while DANGSUGAR moved southwards by -4.88% after today’s trading session.
The Financial Services sector closed with eleven gainers to five losers as against nine gainers to nine losers recorded in the previous session. ACCESS moved up by +4.89% while GOLDENINSURE moved down by -4.76% after today’s trading session.
The Healthcare sector closed with two losers compared with three losers recorded in previous session. MAYBAKER closed negative by 4.73% 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 one gainer as against four losers recorded in previous session. ASHAKACEM closed by +1.90% 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 to two losers as against two gainers recorded in previous session. ETERNAIOL closed by +4.99% while TOTAL closed by -5.00% after today’s trading session.
The Services sector closed with one gainer to three losers as against two gainers to four losers recorded in the previous session. UPL closed positive by 4.90% while RTBRISCOE closed negative by 4.17% after today’s trading session.
Further analysis on Acquiring Banks showed that the share prices of Access Bank Plc closed positive with +4.89% as ETI Plc closed negative with -0.50% while FCMB Plc closed flat. Sterling Bank Plc moved northwards by +4.76% while Union Bank Plc closed flat after today’s trading session. See the tracking table below.