220212: All-Share Index dips by -0.87% to halt three days rally.
Category: Daily & Weekly Market Updates
Equity market retraced to close negative after three days rally as sell pressure witnessed in some sectors impacted market outlook while the negative movement in the share price of Dangote Cement Plc, market leader by capitalisation, also contributed to the negative posture despite the positive market breadth recorded.
Furthermore, the key benchmark indices shed above 100 basis points to close downbeat while sentiments turn bearish, taking hits from Blue Chip, Food & Beverages and Oil & Gas stocks while major NSE sectoral indices closed with mixed positions similar to previous standpoint.
The renewed selling activities in Construction/Real Estate, Consumer Goods, Industrial Goods, Oil & Gas and Services sectors impacted the outlook recorded today. Meanwhile, moderate bargain activities were witnessed in Agriculture, Financial Services and Healthcare sector.
In the same vein, the market capitalization of 186 first-tier equities depreciated by N56.39 billion as market sentiments turned negative. 104 equities were traded today as against previous 108 with more activities recorded in Financial Services,Consumer Goods, Conglomerates, Oil & Gas, Industrial Goods, Services, Healthcare, Agriculture 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 -0.56%, NSE Oil & Gas closed downbeat by -0.60% as NSE Food & Beverages also closed downtick by -0.02% while NSE Insurance recorded +0.43% gain with NSE Banking recording the highest gain by +1.12%.
At the close of trading session, the NSE All-Share Index dips by -0.87% to close at 20,313.36 as against an upbeat by +0.26% recorded in the previous session to close at 20,492.31. In the same vein, market capitalization depreciated by N56.39billion (US$375.86million) to close at N6.40trillion (US$42.66billion) as against appreciation by N16.72billion (US$111.44million) recorded in preceding session to close at N6.45trillion (US$43.04billion).
The number of gainers at the close of trading session closed higher at 25 as against 26 recorded in the previous session while decliners closed lower at seventeen (17) as against twenty (20) losers recorded in the previous trading day – suggesting a positive market breadth.
As usual, Financial Services sector led the market transaction volume today with 440.50 million units valued at N1.84 billion (US$12.30 million) exchanged in 2,819 deals as against 223.09 million units valued at N746.30 million (US$4.97 million) exchanged in 2,379 deals recorded in previous session.
The volume recorded in the sector was driven by transaction in the shares UBA, First Bank, Sterling Bank, FCMB and Access Bank Plc and the total volume of 339.03 million units valued at N1.31 billion traded in five stocks accounted for 69.16% of the entire market volume and their value represented 52.41% of the market’s value.
Transaction volume on the exchange moved up by +62.79% to close at 490.20 million units exchanged in 4,472 deals as against a decline by -16.02% recorded in the previous trading to close at 301.12 million units exchanged in 4,104 deals.
Also, market value appreciated by +34.13 to close at N2.51 billion (US$16.75 million) as against depreciation by -31.12% recorded in the previous trading session to close at N1.87 billion (US$12.49 million).
Sectoral Performance (According to New Market Segmentation)
Financial Services sector led the market sectoral performance with 440.50 million units of shares traded in 2,819 trades within the sector, followed by Consumer Goods sector to come second on the chart with 17.96 million units traded in 822 trades while Conglomerates sector recorded 14.87 million units in 80 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 58.62% contribution to market turnover, followed by Small Cap stocks with 23.65% while Large Cap stocks stake 17.72% 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, DANGFLOUR, UBN and GLAXOSMITH led 75 traded stocks in the Small Cap category in that order. See table below
The Agriculture sector closed with one gainer the same market outlook recorded in the previous session. LIVESTOCK closed positive by 4.49% after today’s trading session.
The Conglomerates sector closed with no price movement as against one gainer 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 closed by -5.00% after today’s trading session.
The Consumer Goods closed with four gainers to four losers compared with six gainers to five losers recorded in previous session. VITAFOAM moved northwards by +4.85% while CHAMPION moved southwards by -4.95% after today’s trading session.
The Financial Services sector closed with thirteen gainers to four losers as against eleven gainers to six losers recorded in the previous session. GTASSURE moved up by +4.88% while PRESTIGE moved down by -4.29% after today’s trading session.
The Healthcare sector closed with two gainers compared with one gainer to one loser recorded in previous session. FIDSON closed positive by 4.41% 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 two gainers to five losers as against one gainer to one loser recorded in previous session. CAP closed by +4.50% while BERGER closed by -4.95% after today are trading session.
The Natural Resources 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 Oil & Gas sector closed with one gainer to one loser as against one gainer to four losers recorded in previous session. OANDO closed by +1.78% while CONOIL closed by -5.00% after today’s trading session.
The Services sector closed with one gainer to two losers as against three gainers to one loser recorded in the previous session. IKEJAHOTEL closed positive by 4.55% while NAHCO closed negative by 4.97% after today’s trading session.
Further analysis on Acquiring Banks showed that the share prices of Access Bank Plc closed positive with +0.88% as ETI Plc closed positive with +0.49% while FCMB Plc also moved in the same direction with +1.20%. Sterling Bank Plc moved northwards by +4.12% while Union Bank Plc closed flat after today’s trading session. See the tracking table below.