020412: NSE ASI dips by -0.01%; Mobil proposes Cash & Bonus dividends

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020412: NSE ASI dips by -0.01%; Mobil proposes Cash & Bonus dividends

Today, Equity Market closed downtick for the seventh consecutive session with a marginal loss as investors’ unrelenting sell pressure which permeated market activities throughout last week continues while the positive trading activities witnessed in the share price of Dangote Cement Plc, market leader by capitalisation, could not lift the market indicator to the positive territory.

Nevertheless, the key benchmark indices sustained bearish sentiments, taking hits majorly from Large CAP stock which was particularly driven by FIRST BANK while Medium CAP stocks also contributed to the outlook recorded today due to selling activities witnessed in Consumer Goods and Financial Services sectors.

In the same vein, the market capitalization of 186 first-tier equities depreciated by N481.70 million as market sentiments remained bearish. 94 equities were traded today as against previous 96 with more activities recorded in Financial Services, Conglomerates, Oil & Gas, Services, Industrial Goods, Consumer Goods, Healthcare, Agriculture and Construction/Real Estate sectors.

Today, four out of the five NSE sectoral indices closed negative as NSE 30 which basically measures the performance of blue chips retraced by +0.39%, NSE Insurance also retraced by -0.72% while NSE Oil & Gas closed downwards by -0.18% with NSE banking recording -0.95% loss while NSE Food recorded -0.59% loss.

At the close of trading session, the NSE All-Share Index dips by -0.01% to close at 20,650.95 as against a decline by -0.50% recorded in the previous session to close at 20,652.47. In the same vein, market capitalization depreciated by N481.70million (US$3.21million) to close at N6.54trillion (US$43.64billion) as against depreciation by N32.89billion (US$219.20million) recorded in preceding session to close at N6.54trillion (US$43.65billion).

The number of gainers at the close of trading session closed higher at 18 as against 18 recorded in the previous session while decliners closed lower at twenty-nine (29) as against twenty-four (24) losers recorded in the previous trading day – suggesting a negative market breadth.

Today, the following companies presented their results

1. UAC Property Dev Co. Plc: in its Audited 2011 result recorded positive turnover growth of +31.2% and negative PAT growth of -12.2%. The company rewards investors with N0.65k dividend. The closure date is 17^th April, 2012 while payment date is 16^th May, 2012. Its AGM will hold on 15^th May, 2012 at Golden Tulip, Festac Town, Lagos.

2. Aluminium Extrusion Ind. Plc: in its Audited 2011 result recorded positive turnover growth of +7.50% and positive PAT growth of +67.1%.

3. Beta Glass Plc: in its Audited 2011 result recorded positive gross earnings growth of +14% and positive PAT growth of +5%. The company rewards investors with N0.40k dividend. The closure date is 30^th April, 2012. Qualification date is 27th^th April, 2012 while payment and AGM date is 9^th July, 2012.

4. DN Meyer Plc: in its Audited 2011 result recorded positive gross earnings growth of +15% and positive PAT growth of +58.6%.

5. UAC of Nig Plc: in its Audited 2011 result recorded positive turnover growth of +9.3% and positive PAT growth of +87.2%.

6. Mobil Oil Plc: in its Audited 2011 result recorded positive gross earnings growth of +15% and positive PAT growth of +58.6%. The company rewards investors with N5.00k cash and 1 for 5 bonus dividends. The closure date is 2^nd May, 2012. Qualification date is 30^th April, 2012 while payment and AGM date is 6^th June and 30^th May, 2012.

7. Total Nigeria Plc: in its Audited 2011 result recorded positive gross earnings growth of +6.4% and negative PAT growth of -3.37%. The company rewards investors with N7.00k dividends. The closure date is 23^rd April, 2012. Qualification date is 20^th April, 2012 while payment and AGM date is 14^th June and 13^th June, 2012 respectively.

As usual, Financial Services sector led the market transaction volume today with 155.64 million units valued at N879.07 million (US$5.85 million) exchanged in 2,180 deals as against 246.38 million units valued at N1.30 billion (US$8.68 million) exchanged in 1,872 deals recorded in previous session.

The volume recorded in the sector was driven by transaction in the shares of Diamond, Guaranty, Access, Fidelity and Zenith Bank and the total volume of 104.67 million units valued at N638.80 million traded in five stocks accounted for 46.75% of the entire market volume and their value represented 42.94% of the market’s value.

Transaction volume on the exchange moved down by -27.51% to close at 223.90 million units exchanged in 3,697 deals as against an upbeat by +45.52% recorded in the previous trading to close at 308.89 million units exchanged in 3,362 deals.

Also, market value depreciated by -33.36% to close at N1.48 billion (US$9.91 million) as against appreciation by +20.33% recorded in the previous trading session to close at N2.23 billion (US$14.87 million).

Sectoral Performance (According to New Market Segmentation)

Financial Services sector led the market sectoral performance with 155.64 million units of shares traded in 2,180 trades within the sector, followed by Conglomerates sector to come second on the chart with 34.28 million units traded in 66 trades while Oil & Gas sector recorded 10.22 million units in 392 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 44.26% contribution to market turnover, followed by Small Cap stocks with 34.68% while Large Cap stocks stake 21.06% to come last on the chart.

Among the Large cap stocks, GUARANTY, NB and GUARANTY Plc topped the 7 traded stocks in that class while ACCESS, IBTC and WAPCO dominated Medium Cap of 23 traded stocks. Similarly, HONYFLOUR, GLAXOSMITH and STERLNBANK led 64 traded stocks in the Small Cap category in that order. See table below

SECTORAL REVIEW

The Agriculture sector closed with one gainer to two losers as against one gainer to one loser recorded in the previous session. OKOMUOIL closed with +5.00% while LIVESTOCK closed with -4.90% after today’s trading session.

The Conglomerates sector closed with one gainer as against no price movement recorded in the previous session. AGLEVENT closed by +4.76% after today’s trading session.

The Construction/Real Estate sector closed with no price movement as against three losers recorded in previous session. All stocks in the sector closed flat after today’s trading session.

The Consumer Goods sector closed with three gainers to four losers compared with five gainers to four losers recorded in previous session. HONYFLOUR moved northwards by 4.61% while CADBURY moved southwards by 4.98% after today’s trading session.

The Financial Services sector closed with four gainers to twelve losers compare with six gainers to seven losers recorded in the previous session. WAPIC moved up by +4.00% while FIRSTBANK moved down by -4.99% after today’s trading session.

The Healthcare sector closed with two gainers compared the same market posture recorded in previous session. NEIMETH closed positive with 3.90% after today’s trading session.

The Information & Communication Technology sector closed with one loser as against one gainer to one loser recorded in the previous session. NCR closed with -4.97% after today’s trading session.

The Industrial Goods sector closed with four gainers to five losers as against two gainers to two losers recorded in previous session. CAP closed by +4.97% while AVONCROWN closed by -4.89% 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 two gainers to three losers as against four losers recorded in previous session. MOBIL closed by +5.00% while OANDO closed by -4.59% after today’s trading session.

The Services sector closed with one gainer to two losers as against one gainer to two losers recorded in the previous session. IKEJAHOTEL closed positive by 2.22% while UPL closed negative by 4.93% after today’s trading session.

Further analysis on acquiring banks since transaction date showed that the share price of Access Bank Plc has recorded 13.33% gain, followed by FCMB with 12.82% while Union Bank Plc leads the chart with 23.44% gain. However, Sterling Bank and ETI recorded -10.24% and -4.88% loss respectively. See the tracking table below.

Acquiring Banks