180412: NSE ASI firms up by +1.47%; UBA declares 1 for 50 Bonus

Category: Daily & Weekly Market Updates

Read (1923)

180412: NSE ASI firms up by +1.47%; UBA declares 1 for 50 Bonus

Nigerian Stock Market closed green to maintain northwards movement for the second successive session due to continuous bargain activities witnessed on the main board while the key market indicator closed above 21,000 psychological line amid improved breadth.

NSE further exercise limited discretion by extending the filing date of Quoted Companies whose 2011 Audited Accounts was due for March 31, 2012 by another two weeks effective April 16, 2012 to April 27, 2012, in order to regularize their filings.

Nevertheless, the key benchmark indices maintained upwards movement as sentiments remained green, taking supports majorly from Large CAP stocks which were particularly driven by FIRSTBANK while Medium CAP stocks also contributed to the outlook recorded today due to continuous bargain activities witnessed in Construction/Real Estate and Financial Services sectors.

In the same vein, the market capitalization of 187 first-tier equities appreciated by N97.48 billion as market sentiments remained positive. 95 equities were traded today as against previous 92 with more activities recorded in Financial Services, Consumer Goods, Healthcare, Conglomerates, Oil & Gas, Services, Industrial Goods, Agriculture, ICT, Construction/Real Estate and Natural Resources sectors.

Today, four out of the five NSE sectoral indices closed positive as NSE 30 which basically measures the performance of blue chips maintained uptrend by +1.22%, NSE Insurance closed positive by +0.26% while NSE Oil & Gas also closed downwards by -0.38% with NSE banking recorded the highest gain by +1.36% while NSE Food also recorded +0.63% gain.

At the close of trading session, the NSE All-Share Index inches up by +1.47% to close at 21,094.51 as against a decline by -0.10% recorded in the previous session to close at 20,788.83. In the same vein, market capitalization appreciated by N97.48billion (US$649.68 million) to close at N6.72trillion (US$44.83billion) as against appreciation by N21.18billion (US$141.19million) recorded in preceding session to close at N6.63trillion (US$44.18billion).

The number of gainers at the close of trading session closed higher at 22 as against 18 recorded in the previous session while decliners closed flat at twenty-three (23) as against twenty-three (23) losers recorded in the previous trading day – suggesting a negative market breadth.

Today, the following companies presented their results

1. United Bank for Africa Plc: in its Audited 2011 result recorded positive turnover growth of +4.1% and negative PAT growth of -1713.2%. The company declares 1 for 50 bonus. Its AGM date is 18^th May 2012 scheduled to hold at Lagos Oriental Hotel Lekki Lagos at 10am.

2. Evans Medical Plc: in its Audited 2011 result recorded positive turnover growth of +16% and positive PAT growth of +978.6%.

3. PZ Cussons Plc: in its Q3 result recorded positive turnover growth of +15.4% and negative PAT growth of -82.9%.

4. Unilever Nigeria Plc: in its Q1 2012 result recorded positive turnover growth of +7.9% and negative PAT growth of -18.1%.

As usual, Financial Services sector led the market transaction volume today with 285.68 million units valued at N1.91 billion (US$12.78 million) exchanged in 1,847 deals as against 419.64 million units valued at N1.98 billion (US$13.26 million) exchanged in 2,305 deals recorded in previous session.

The volume recorded in the sector was driven by transaction in the shares of FCMB, ETI, UBA, ZENITH, ACCESS and ZENITHBANK Plc and the total volume of 186.45 million units valued at N1.33 billion traded in five stocks accounted for 54.90% of the entire market volume and their value represented 65.75% of the market’s value.

Transaction volume on the exchange moved down by -29.72% to close at 339.61 million units exchanged in 3,696 deals as against an upbeat by +46.31% recorded in the previous trading to close at 483.24 million units exchanged in 4,065 deals.

Also, market value depreciated by -19.81% to close at N2.56 billion (US$17.11 million) as against appreciation by +164.34% recorded in the previous trading session to close at N3.20 billion (US$21.34 million).

Sectoral Performance (According to New Market Segmentation)

Financial Services sector led the market sectoral performance with 285.68 million units of shares traded in 1,847 trades within the sector, followed by Consumer Goods sector to come second on the chart with 13.96 million units traded in 681 trades while Healthcare sector recorded 12.15 million units in 59 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 61.88% contribution to market turnover, followed by Large Cap stocks with 19.32% while Small Cap stocks stake 18.80% 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 21 traded stocks. Similarly, DANGFLOUR, GLAXOSMITH and ETRANZACT led 67 traded stocks in the Small Cap category in that order. See table below

SECTORAL REVIEW
The Agriculture sector closed with one gainer to one loser as against two gainers recorded in the previous session. LIVESTOCK closed with +4.88% while PRESCO closed with -4.67% after today’s trading session.

The Conglomerates sector closed with one gainer to one loser as against one loser recorded in the previous session. UACN closed with +0.36% while AGLEVENT closed with -4.86% after today’s trading session.

The Construction/Real Estate sector closed with one gainer as against no price movement recorded in the previous session. SMURTFIT closed positive by 4.59% after today’s trading session.

The Consumer Goods sector closed with five gainers to two losers the same market outlook recorded in previous session. VITAFOAM moved northward by 4.85% while DANDSUGAR moved a southward by 2.20% after today’s trading session.

The Financial Services sector closed with nine gainers to seven losers as against seven gainers to seven losers recorded in the previous session. FCMB moved up by +4.82% while GOLDINSURE moved down by -4.84% after today’s trading session.

The Healthcare sector closed with one loser compared to two losers recorded in previous session. GLAXOSMITH closed negative with 4.90% after today’s trading session.

The Information & Communication Technology sector closed with no price movement as against one gainer recorded in the previous session. All prices in the sector closed flat after today’s trading session.

The Industrial Goods sector closed with three gainers to five losers as against three gainers to one loser recorded in previous session. DANGCEM closed by +3.45% while BAGCO closed by -5.00% 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 four losers as against one gainer to six losers recorded in previous session. JAPAULOIL closed by -3.64% after today’s trading session.

The Services sector closed with two gainers to two losers as against one gainer to three losers recorded in the previous session. RTBRISCOE closed positive by 4.76% while LONGMAN closed negative by 4.85% after today’s trading session

Further analysis on Acquiring Banks since transaction date showed that the share price of Access Bank Plc has recorded 12.32% gain, followed by FCMB with 28.21% while Union Bank Plc leads the chart with 63.16% gain. However, Sterling Bank and ETI Plc both recorded -2.36% and -2.06% loss respectively. See the tracking table below.

Acquiring Banks