280512 All-Share Index retraces by -0.24% to open the week pessimistic
Category: Daily & Weekly Market Updates
Equity Market resumes downtrend to open the first trading day of the week negative after recording a marginal gain in the previous session as selling activities outweighed bargain hunting amid negative volume turnover and Naira votes while market breadth also closed depressed as against previous stance.
Nevertheless, the key benchmark indices resumed downtrend as sentiments turned red, taking hits majorly from Large CAP stock which was particularly driven by Nigerian Breweries while Small CAP stocks also contributed to the outlook recorded today due to continuous selling activities witnessed in Agriculture, Industrial Goods and Oil & Gas and Services sectors.
In the same vein, the market capitalization of 187 first-tier equities depreciated by N16.69billion as market sentiments turned negative. 95 equities were traded today as against previous 102 with more activities recorded in Financial Services, ICT,Conglomerates, Oil & Gas, Consumer Goods, Services, Industrial Goods,Agriculture, Construction/Real Estate, Healthcare 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 resumed downtrend by -0.26%, NSE Insurance maintained uptrend by +1.30% while NSE Oil & Gas closed positive by +1.09% with NSE banking recording -0.36% loss while NSE Food also recorded -0.48% loss.
At the close of trading session, the NSE All-Share Index dips by -0.24% to close at 22,180.02 as against an upbeat by +0.06% recorded in the previous session to close at 22,232.36. In the same vein, market capitalization depreciated by N16.69 billion (US$111.24 million) to close at N7.07 trillion (US$47.14billion) as against appreciation by N4.44 billion (US$29.59 million) recorded in preceding session to close at N7.09 trillion (US$47.25billion).
The number of gainers at the close of trading session closed flat at 16 as against 16 recorded in the previous session while decliners closed higher at nineteen (19) as against fourteen (14) losers recorded in the previous trading day – suggesting a negative market breadth.
Today, the following companies presented their results
1.Secure Electronic Tech Plc: in its Q1 2012 result recorded positive turnover growth of +35.29% and negative PAT growth of -472.73%.
2.MRS Oil Plc: in its Q1 2012 result recorded positive turnover growth of +9.07% and negative PAT growth of -64.69%.
3.Forte Oil Plc: in its Q1 2012 result recorded positive turnover growth of -10.29% and positive PAT growth of +15.82%.
As usual, Financial Services sector led the market transaction volume today with 140.31 million units valued at N988.92 million (US$6.59 million) exchanged in 2,184 deals as against 285.38 million units valued at N2.13 billion (US14.21 million) exchanged in 1,816 deals recorded in previous session.
The volume recorded in the sector was driven by transaction in the shares of GUARANTY, UBA,FIRSTBANK, ACCESS and FIDELITY BANK Plc and the total volume of 90.82 million units valued at N831.78 million traded in five stocks accounted for 42.10% of the entire market volume and their value represented 55.03% of the market’s value.
Transaction volume on the exchange moved down by -44.57% to close at 215.76 million units exchanged in 3,648 deals as against a decline by -20.06% recorded in the previous trading to close at 389.25 million units exchanged in 3,433 deals.
Also, market value depreciated by -48.77% to close at N1.51 billion (US$10.07 million) as against appreciation by +3.02% recorded in the previous trading session to close at N2.95 billion (US$19.66 million).
Sectoral Performance (According to New Market Segmentation)
Financial Services sector led the market sectoral performance with 140.31 million units of shares traded in 2,184 trades within the sector, followed ICT sector to come second on the chart with 33.95 million units traded in 21 trades while Conglomerates sector recorded 16.47 million units in 92 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 40.22% contribution to market turnover, followed by Small Cap stocks with 34.27% while Large Cap stocks stake 25.52% to come last on the chart.
Among the Large cap stocks, DANGCEM, NB and ZENITHBANK Plc topped the 7 traded stocks in that class while WAPCO, UBA and ACCESS dominated Medium Cap of 24 traded stocks. Similarly, CONOIL, GLAXOSMITH and UNITYBNK led 64 traded stocks in the Small Cap category in that order. See table below
The Agriculture sector closed with one loser as against no price movement recorded in the previous session.
The Conglomerates sector closed with one gainer as against one gainer to one loser recorded in the previous session. Transcorp Plc closed with +4.44% gains after today’s trading session.
The Construction/Real Estate sector closed with no price movement as against one gainer recorded in the previous session.
The Consumer Goods sector closed with two gainers to four losers as against two gainers to two losers recorded in previous session. Vitafoam Plc moved northwards by +4.55% while Cadbury Plc moved southwards by -3.44% after today’s trading session.
The Financial Services sector closed with nine gainers to seven losers as against six gainers to eight losers recorded in the previous session. Union Bank Plc moved up by +4.79% while Access Bank Plc moved down by -2.55% loss after today’s trading session.
The Healthcare sector closed with one gainer compared to two losers recorded in previous session.
The ICT sector closed with no price movement as against any price movement recorded in the previous session.
The Industrial Goods sector closed with one gainer to three losers as against two losers recorded in previous session.
The Natural Resources sector closed with no price movement as against any price movement recorded in previous session.
The Oil & Gas sector closed with one gainer to two losers as against two losers recorded in previous session.
The Services sector closed with one gainer to two losers as against two gainers to one loser recorded in the previous session.
Further analysis on Acquiring Banks since transaction date showed that the share price of Access Bank Plc has recorded 31.11% gain, followed by FCMB with 6.92%while Union Bank Plc leads the chart with 77.99% gain. However, Sterling Bank Plc recorded -7.09% loss while ETI also closed negative with -4.03% loss recorded. See the tracking table below.