120412: NSE ASI dips by -0.35%; Sterling Bank Plc proposes 10k Cash Dividend
Category: Daily & Weekly Market Updates
Today, the bears continue to exert their grip on the market as trading activities closed negative for the third session in a row; market breadth closed depressed with two losers for every gainer recorded whileSterling Bank Plc proposes 10k dividend with its full Audited Financial Statements to be transmitted to the market tomorrow, April 13, 2012.
Nevertheless, the key benchmark indices sustained downtrend as sentiments remained bearish, taking hits majorly from Medium CAP stock which was particularly driven by MOBIL while Large CAP stocks also contributed to the outlook recorded today due to continuous sell pressure witnessed in Consumer Goods, Financial Services and Industrial Goods sectors.
In the same vein, the market capitalization of 187 first-tier equities depreciated by N23.04 billion as market sentiments remained negative.91 equities were traded today as against previous 90 with more activities recorded in Conglomerates, Financial Services, Consumer Goods, Oil & Gas, Industrial Goods, Agriculture, Services and Healthcare sectors.
Today, All five NSE sectoral indices closed negative as NSE 30 which basically measures the performance of blue chips maintained downtrend by -0.45%, NSE Insurance closed downtrend by -0.41% while NSE Oil & Gas also closed downwards by -2.83% with NSE banking recording -0.86% loss while NSE Food also recorded -0.26% loss.
At the close of trading session, the NSE All-Share Index dips by -0.35% to close at 20,742.10 as against a decline by -0.15% recorded in the previous session to close at 20,814.35. In the same vein, market capitalization depreciated by N23.04million (US$153.58million) to close at N6.61trillion (US$44.08billion) as against appreciation by N27.14billion (US$180.89million) recorded in preceding session to close at N6.63trillion (US$44.23billion).
The number of gainers at the close of trading session closed lower at 13 as against 15 recorded in the previous session while decliners closed higher at twenty-seven (27) as against twenty-two (22) losers recorded in the previous trading day – suggesting a negative market breadth.
Today, the following company presented its result
1.Studio Press Nigeria Plc: in its Audited 2011 result recorded positive turnover growth of +2.0% and negative PAT growth of -83.3%. The company’s AGM date is 16th August 2012 scheduled to hold at Israel Adebayo Closure, Ikeja Industrial |Estate, Ikeja Lagos.
Also, the following company presented its forecast
2. Pharma-Deko Plc Q2 2012: Turnover N525m Cost of Sales (N247m) Profit before Tax N17m Taxation (Nil) Profit after Tax N17m
Surprisingly, Conglomerates sector led the market transaction volume today with 611.55 million units valued at N313.09 million (US$2.08 million) exchanged in 126 deals as against 11.56 million units valued at N19.18 billion (US$0.127 million) exchanged in 98 deals recorded in previous session.
The volume recorded in the sector was driven by transaction in the shares of Transcorp Plc and the total volume of 611.55 million units valued at N313.09 million traded in the stock accounted for 74.18% of the entire market volume and its value represented 14.37% of the market’s value.
Transaction volume on the exchange moved up by +366.24% to close at 823.82 million units exchanged in 3,512 deals as against a decline by -11.67% recorded in the previous trading to close at 176.69 million units exchanged in 3,918 deals.
Also, market value appreciated by +49.27% to close at N2.12 billion (US$14.19 million) as against depreciation by -26.23% recorded in the previous trading session to close at N1.42 billion (US$9.50 million).
Sectoral Performance (According to New Market Segmentation) Conglomerates sector led the market sectoral performance with 611.55 million units of shares traded in 126 trades within the sector, followed by Financial Services sector to come second on the chart with 190.21 million units traded in 1,962 trades while Consumer Goods sector recorded 8.87 million units in 582 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 Small Cap stocks according to new market segmentation topped today's market activity with 88.24% contribution to market turnover, followed by Large Cap stocks with 5.91% while Medium Cap stocks stake 5.85% 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 ETI, IBTC and WAPCO dominated Medium Cap of 20 traded stocks. Similarly, DANGFLOUR, GLAXOSMITH and ASHAKACEM led 64 traded stocks in the Small Cap category in that order. See table below
SECTORAL REVIEW The Agriculture sector closed with one gainer as against two losers recorded in the previous session. OKOMUOIL closed with +0.07% after today’s trading session.
The Conglomerates sector closed with two losers as against two gainers recorded in the previous session. AGLEVENT closed by -4.64% after today’s trading session.
The Construction/Real Estate sector closed with one loser as against two gainers recorded in the previous session. UAC-PROP closed negative by 0.10% after today’s trading session.
The Consumer Goods sector closed with six losers compared with one gainer to four losers recorded in previous session. DANGFLOUR moved a southward by 4.88% after today’s trading session.
The Financial Services sector closed with seven gainers to eight losers compare with four gainers to eleven losers recorded in the previous session.UBN moved up by +4.83% while WAPIC moved down by -3.64% after today’s trading session.
The Healthcare sector closed with one gainer to two losers compared with two gainers to three losers recorded in previous session. FIDSON closed positive with 4.55% while NEIMETH closed negative with 4.11% 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 to three losers as against two gainers to two losers recorded in previous session. CAP closed by +3.33% while CCNN closed by -4.40% 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 two gainers to three losers as against one gainer to two losers recorded in previous session. ETERNAOIL closed by +4.83% while CONOIL closed by -4.99% after today’s trading session.
The Services sector closed with one gainer to two losers as against one gainer to one loser recorded in the previous session. RTBRISCOE closed positive by 5.00% while IKEJAHOTEL closed negative by 4.96% after today’s trading session.
Further analysis on Acquiring Banks since transaction date showed that the share price of Access Bank Plc has recorded 17.17% gain, followed by FCMB with 10.77% while Union Bank Plc leads the chart with 34.93% gain. However, Sterling Bank recorded -5.51% loss while ETI recorded +1.11% gain. See the tracking table below.