230212: NSE ASI retraces by +0.56; Nigerian Breweries Plc proposes N3.00 final dividend.
Category: Daily & Weekly Market Updates
Nigerian Stocks resumed uptrend after a day of negative position due to renewed bargain hunting witnessed in some Medium and Small cap stocks while market breadth also closed impressive with two gainers to every loser observed.
Furthermore, the key benchmark indices retracts to close positive as sentiments turn green, leveraging on the profitable trading activities recorded in Blue Chip, Banking, Insurance and Oil & Gas stocks while four major NSE sectoral indices closed with positive posture as against previous mixed outlook.
The renewed buying activities in Agriculture, Financial Services, Healthcare and Industrial Goods sectors impacted the outlook recorded today. Meanwhile, moderate selling activities were witnessed in Consumer Goods, Natural Resources, Oil & Gas and Services sector.
In the same vein, the market capitalization of 186 first-tier equities appreciated by N35.56 billion as market sentiments turned green. 97 equities were traded today as against previous 104 with more activities recorded in Financial Services,Consumer Goods, Oil & Gas, Conglomerates, Services, Industrial Goods, ICT, Natural Resources, Healthcare, Agriculture and Construction/Real Estate sectors.
Today, four out of the five NSE sectoral indices closed positive as NSE 30 which basically measures the performance of blue chips retraced by +0.69%, NSE Oil & Gas closed upbeat by +0.51% as NSE Food & Beverages closed downtick by -0.69% while NSE Insurance recorded +1.37% gain with NSE Banking recording the highest gain by +2.88%.
At the close of trading session, the NSE All-Share Index inches up by +0.56% to close at 20,426.21 as against a decline by -0.87% recorded in the previous session to close at 20,313.36. In the same vein, market capitalization appreciated by N35.56billion (US$237.02million) to close at N6.43trillion (US$42.90billion) as against depreciation by N56.39billion (US$375.86million) recorded in preceding session to close at N6.40trillion (US$42.66billion).
The number of gainers at the close of trading session closed higher at 29 as against 25 recorded in the previous session while decliners closed lower at fourteen (14) as against seventeen (17) losers recorded in the previous trading day – suggesting a positive market breadth.
Today, Nigerian Breweries Plcproposed final dividend of N3.00k. The closure is 15th March, 2012 while payment date is 17th May, 2012. The company’s Annual General Meeting is scheduled to take place on 16th of May, 2012 at the Muson Centre, Onikan, Lagos.
As usual, Financial Services sector led the market transaction volume today with 290.13 million units valued at N1.21 billion (US$8.07 million) exchanged in 2,369 deals as against 440.50 million units valued at N1.84 billion (US$12.30 million) exchanged in 2,819 deals recorded in previous session.
The volume recorded in the sector was driven by transaction in the shares UBA, Sterling Bank, Resort Saving & Loans, Access Bank and Fidelity Bank Plc and the total volume of 181.76 million units valued at N385.58 million traded in five stocks accounted for 50.71% of the entire market volume and their value represented 22.60% of the market’s value.
Transaction volume on the exchange moved down by -26.88% to close at 358.42 million units exchanged in 3,902 deals as against an upbeat by +62.79% recorded in the previous trading to close at 490.20 million units exchanged in 4,472 deals.
Also, market value depreciated by -32.13 to close at N1.70 billion (US$11.37 million) as against appreciation by +34.13% recorded in the previous trading session to close at N2.51 billion (US$16.75 million).
Sectoral Performance (According to New Market Segmentation)
Financial Services sector led the market sectoral performance with 290.13 million units of shares traded in 2,369 trades within the sector, followed by Consumer Goods sector to come second on the chart with 51.33 million units traded in 760 trades while Oil & Gas sector recorded 4.34 million units in 332 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 47.09% contribution to market turnover, followed by Small Cap stocks with 40.49% while Large Cap stocks stake 12.42% 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, ASHAKACEM and GLAXOSMITH led 69 traded stocks in the Small Cap category in that order. See table below
The Agriculture sector closed with one gainer the same market posture recorded in the previous session. LIVESTOCK closed positive by 4.30% after today’s trading session.
The Conglomerates 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 Construction/Real Estate 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 Consumer Goods closed with three gainers to four losers compared with four gainers to four losers recorded in previous session. NASCON moved northwards by +4.93% while NESTLE moved southwards by -4.76% after today’s trading session.
The Financial Services sector closed with fourteen gainers to two losers as against thirteen gainers to four losers recorded in the previous session. FIRSTBANK and ZENITH moved up by +4.96% while CONTINSURE moved down by -4.00% after today’s trading session.
The Healthcare sector closed with one gainer compared with two gainers recorded in previous session. FIDSON closed positive by 4.23% 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 gainers to one loser as against two gainers to five losers recorded in previous session. CAP closed by +5.00% while WAPCO closed by -4.23% after today are trading session.
The Natural Resources sector closed with one loser as against no price movement recorded in previous session. BOCGAS closed negative by 0.44% after today’s trading session.
The Oil & Gas sector closed with two gainers to two losers as against one gainer to one loser recorded in previous session. JAPAULOIL closed by +2.70% while CHEVRON closed by -4.98% after today’s trading session.
The Services sector closed with two gainers to three losers as against one gainer to two losers recorded in the previous session. IKEJAHOTEL closed positive by 4.35% while NSLTECH closed negative by 3.95% after today’s trading session.
Further analysis on Acquiring Banks showed that the share prices of Access Bank Plc closed positive with +1.31% as ETI Plc closed positive with +1.94% while FCMB Plc also moved in the same direction with +3.57%. Sterling Bank Plc moved northwards by +3.96% while Union Bank Plc closed flat after today’s trading session. See the tracking table below.