090512: All-Share Index dips by -0.54%; DANGCEM grows PAT by 10% in Q1 ‘12
Category: Daily & Weekly Market Updates
Trading activities on the Nigerian bourse today close with the bears to erase previous day gain as profiteering takes place amid increased volume turnover while market breadth closed flat as against an improved posture witnessed in the previous session.
Nevertheless, the key benchmark indices closed downtrend as sentiments turned red, 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 Financial Services, Industrial Goods and Conglomerates sectors.
In the same vein, the market capitalization of 187 first-tier equities depreciated by N39.23 billion as market sentiments turned negative. 93 equities were traded today as against previous 85 with more activities recorded in Financial Services, Consumer Goods, Conglomerates, Oil & Gas, Services, Healthcare, Industrial Goods, Agriculture, ICT, Construction/Real Estate and Natural Resources sectors.
Today, three out of the five NSE sectoral indices closed negative as NSE 30 which basically measures the performance of blue chips retraced by -0.78%, NSE Insurance also retraced to close southwards marginally by -0.06% while NSE Oil & Gas recorded +0.10% gain with NSE banking recording -2.56% loss while NSE Food recorded +0.49% gain.
At the close of trading session, the NSE All-Share Index dips by -0.54% to close at 22,533.72 as against an upbeat by +0.38% recorded in the previous session to close at 22,656.76. In the same vein, market capitalization depreciated by N39.23billion (US$261.50 million) to close at N7.18trillion (US$47.89billion) as against appreciation by N27.10 billion (US$180.61 million) recorded in preceding session to close at N7.22trillion (US$48.15billion).
The number of gainers at the close of trading session closed lower at 24 as against 27 recorded in the previous session while decliners closed higher at twenty-three (23) as against nineteen (19) losers recorded in the previous trading day – suggesting a positive market breadth.
Today, the following companies presented their results
1.FTN Cocoa Processors Plc: in its Audited 2011 result recorded negative turnover growth of -30% and negative PAT growth of -447.3%.
2.Berger Paints Plc: in its Q1 2012 result recorded positive turnover growth of +3.5% and negative PAT growth of -42.4%.
3.Berger Paints Plc: in its Q1 2012 result recorded positive turnover growth of +21.3% and positive PAT growth of +18.8%.
4.Dangote Cement Plc: in its Q1 2012 result recorded positive turnover growth of +17.6% and positive PAT growth of +10.7%.
5.UAC Property Plc: in its Q1 2012 result recorded positive turnover growth of +116.6% and positive PAT growth of +1185.0%.
As usual, Financial Services sector led the market transaction volume today with 408.44 million units valued at N3.31 billion (US$22.09 million) exchanged in 2,925 deals as against 330.43 million units valued at N3.09 billion (US$20.61 million) exchanged in 3,516 deals recorded in previous session.
The volume recorded in the sector was driven by transaction in the shares of ZENITHBANK, UBA, DIAMONDBNK, FCMB and GUARANTY Plc and the total volume of 263.64 million units valued at N2.39 billion traded in five stocks accounted for 54.49% of the entire market volume and their value represented 62.76% of the market’s value.
Transaction volume on the exchange moved up by +20.22% to close at 483.89 million units exchanged in 4,657 deals as against a decline by -46.08% recorded in the previous trading to close at 402.50 million units exchanged in 5,275 deals.
Also, market value depreciated by -9.21% to close at N3.82 billion (US$25.47 million) as against depreciation by -30.65% recorded in the previous trading session to close at N4.21 billion (US$28.06 million).
Sectoral Performance (According to New Market Segmentation)
Financial Services sector led the market sectoral performance with 408.44 million units of shares traded in 2,925 trades within the sector, followed by Consumer Goods sector to come second on the chart with 29.13 million units traded in 663 trades while Conglomerates sector recorded 22.78 million units in 142 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 50.67% contribution to market turnover, followed by Large Cap stocks with 31.53% while Small Cap stocks stake 17.80% to come last on the chart.
Among the Large cap stocks, DANGCEM, NB and GUARANTY Plc topped the 8 traded stocks in that class while UBA, IBTC and ACCESS dominated Medium Cap of 22 traded stocks. Similarly, ETRANZACT, GLAXOSMITH and HONYFLOUR led 63 traded stocks in the Small Cap category in that order. See table below
The Agriculture sector closed with two gainers to three unchanged prices as against one two gainers to one loser recorded in the previous session. Okomu Oil Palm Plc closed with +4.99% gains after today’s trading session.
The Conglomerates sector closed with two losers as against one gainer and one unchanged price recorded in the previous session. Transcorp Plc closed with -1.79% loss after today’s trading session.
The Construction/Real Estate sector closed with no price movement as against any price movement recorded in the previous session.
The Consumer Goods sector closed with six gainers to two losers as against six gainers to three losers recorded in previous session. PZ Plc moved northwards by +4.98% after today’s trading session.
The Financial Services sector closed with seven gainers to twelve losers as against seven gainers to nine losers recorded in the previous session. Union Bank Plc moved up by +4.89% while UBA Plc moved down by -4.98% loss after today’s trading session.
The Healthcare sector closed with one gainer to three losers compared to one gainer to six unchanged prices recorded in previous session.
The Information & Communication Technology sector closed with one loser to two unchanged prices as against any price movement recorded in the previous session.
The Industrial Goods sector closed with one gainer to two losers as against six gainers to one loser recorded in previous session.
The Natural Resources sector closed with no price movement as against any price movement recorded in previous session. All stocks in the sector closed flat after today’s trading session.
The Oil & Gas sector closed with three gainers to five unchanged prices as against two gainers to two losers recorded in previous session.
The Services sector closed with four gainers to one loser as against two gainers to three losers recorded in the previous session.
Further analysis on Acquiring Banks since transaction date showed that the share price of Access Bank Plc has recorded 31.52% gain, followed by FCMB with 38.21%while Union Bank Plc leads the chart with 125.84% gain. However, Sterling Bank recorded +7.09% gain while ETI closed negative with -1.54% loss recorded. See the tracking table below.