040412: NSE ASI firms up by +0.41%; DANGCEM rewards investors with Cash and Bonus dividends

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040412: NSE ASI firms up by +0.41%; DANGCEM rewards investors with Cash and Bonus dividends

Today, Equity Market closed positive to maintain its gaining streak for the second session in a row as investor continue to engage in value investing amid slightly dropped volume turnover and Naira Votes while Dangote Cement Plc, market leader by capitalisation, today hits the market with its 2011 Audited financials with both cash and bonus dividends proposed.

Nevertheless, the key benchmark indices maintained uptrend as sentiments remained unchanged, taking supports majorly from Medium CAP stock which was particularly driven by ACESS Bank while Large CAP stocks also contributed to the outlook recorded today due to continuous buying activities witnessed in Financial Services sector.

In the same vein, the market capitalization of 187 first-tier equities appreciated by N26.80 billion as market sentiments remained positive. 87 equities were traded today as against previous 106 with more activities recorded in Financial Services, Consumer Goods, Services, Conglomerates, Healthcare, Oil & Gas, Industrial Goods and Agriculture sectors.

Today, three out of the five NSE sectoral indices closed positive as NSE 30 which basically measures the performance of blue chips maintained uptrend by +0.30%, NSE Insurance retraced by +1.15% while NSE Oil & Gas closed downwards by -0.92% with NSE banking recording the highest gain by +1.57% while NSE Food also recorded +0.53% loss.

At the close of trading session, the NSE All-Share Index inches up by +0.41% to close at 20,934.47 as against an upbeat by +0.96% recorded in the previous session to close at 20,849.94. In the same vein, market capitalization appreciated by N26.80million (US$178.65million) to close at N6.63trillion (US$44.24billion) as against appreciation by N63.10billion (US$420.59million) recorded in preceding session to close at N6.61trillion (US$44.06billion).

The number of gainers at the close of trading session closed higher at 23 as against 25 recorded in the previous session while decliners closed lower at seventeen (17) as against twenty-three (23) losers recorded in the previous trading day – suggesting a positive market breadth.

Today, the following companies presented their results

1. Dangote Cement Plc: in its Audited 2011 result recorded positive turnover growth of +0.09% and positive PAT growth of +0.34%. The company rewards investors with 1.25k cash and 1 for 10 bonus dividends. The closure date is 14^th May, 2012 while Qualification date is 11th May, 2012.

2. Juli Plc: in its Audited 2011 result recorded negative turnover growth of -15.06% and negative PAT growth of -38.01%.

As usual, Financial Services sector led the market transaction volume today with 191.51 million units valued at N1.47 billion (US$9.79 million) exchanged in 2,090 deals as against 222.42 million units valued at N1.38 million (US$9.25 million) exchanged in 2,385 deals recorded in previous session.

The volume recorded in the sector was driven by transaction in the shares of Diamond, Guaranty, Zenith, ACCESS and First Bank and the total volume of 146.19 million units valued at N1.35 billion traded in five stocks accounted for 63.83% of the entire market volume and their value represented 65.71% of the market’s value.

Transaction volume on the exchange moved down by -12.81% to close at 229.01 million units exchanged in 3,349 deals as against an upbeat by +17.31% recorded in the previous trading to close at 262.66 million units exchanged in 4,130 deals.

Also, market value depreciated by -5.89% to close at N2.06 billion (US$13.78 million) as against appreciation by +47.74% recorded in the previous trading session to close at N2.19 billion (US$14.64 million).

Sectoral Performance (According to New Market Segmentation)

Financial Services sector led the market sectoral performance with 191.51 million units of shares traded in 2,090 trades within the sector, followed by Consumer Goods sector to come second on the chart with 17.94 million units traded in 553 trades while Services sector recorded 4.66 million units in 119 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 44.73% contribution to market turnover, followed by Large Cap stocks with 38.90% while Small Cap stocks stake 16.38% to come last on the chart.

Among the Large cap stocks, DANGCEM, NB and GUARANTY Plc topped the 7 traded stocks in that class while ACCESS, IBTC and WAPCO dominated Medium Cap of 22 traded stocks. Similarly, DANGFLOUR, GLAXOSMITH and ETRANZACT led 58 traded stocks in the Small Cap category in that order. See table below

SECTORAL REVIEW
The Agriculture sector closed with two gainers to one loser as against one gainer to one loser recorded in the previous session. OKOMUOIL closed with +4.99% while LIVESTOCK closed with -4.12% after today’s trading session.

The Conglomerates sector closed with two gainers to one loser as against two gainers recorded in the previous session. AGLEVENT closed by +4.35% while TRANSCORP closed by -1.92% after today’s trading session.

The Construction/Real Estate sector closed with no price movement the same market posture recorded in the previous session. All stocks in the sector closed flat after today’s trading session.

The Consumer Goods sector closed with two gainers to four losers compared with three gainers to six losers recorded in previous session. NB moved northwards by 0.82% while CADBURY and HONYFLOUR moved southwards by 5.00% after today’s trading session.

The Financial Services sector closed with twelve gainers to three losers compare with twelve gainers to four losers recorded in the previous session. ACCESS moved up by +4.93% while UBN moved down by -4.88% after today’s trading session.

The Healthcare sector closed with three losers compared with two losers recorded in previous session. NEIMETH closed negative with 5.00% 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 two losers as against three gainers to four losers recorded in previous session. PAINTCOM closed by +3.90% while BAGCO and PAINTCOM closed by -4.90% after today’s 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 one gainer to two losers as against one gainer to four losers recorded in previous session. MOBIL closed by +1.43% while JAPAULOIL closed by -4.92% after today’s trading session.

The Services sector closed with one gainer to one loser as against three gainers to two losers recorded in the previous session. UPL closed positive by 2.04% while NAHCO closed negative by 2.71% after today’s trading session.

Further analysis on acquiring banks since transaction date showed that the share price of Access Bank Plc has recorded 24.65% gain, followed by FCMB with 12.56% while Union Bank Plc leads the chart with 11.96% gain. However, Sterling Bank and ETI recorded -8.66% and -1.46% loss respectively. See the tracking table below.

Acquiring Banks