120712 All-Share Index firms up by +1.08% as bargain hunting intensifies

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120712 All-Share Index firms up by +1.08% as bargain hunting intensifies

Today, Nigerian Equity Market maintained northwards movement due to intense bargain activities witnessed across the main board amid low volume turnover and Naira votes while the positive transaction also witnessed in the shares of Dangote Cement Plc, market leader by capitalisation, also contributed to the positive outlook.

Nevertheless, the key benchmark indices maintained uptrend as sentiments remained positive, taking supports majorly from Medium CAP stock which was particularly driven by TRANSCORP while Large CAP stocks also contributed to the outlook recorded today due to continuous bargain activities witnessed in Consumer Goods and Industrial Goods sectors.

In the same vein, the market capitalization of 187 first-tier equities appreciated by N76.37 billion as market sentiments remained optimistic. 103 equities were traded today as against previous 111 with more activities recorded in Financial Services, Consumer Goods, Conglomerates, Industrial Goods, Oil & Gas, Healthcare, Agriculture, Services, Construction/Real Estate, ICT and Natural Resources sectors.

Today, three NSE sectoral indices closed positive as NSE 30 which basically measures the performance of blue chips maintained uptrend by +0.80%, NSE Insurance closed with +0.26% gains while NSE Oil & Gas also closed positive with +0.18% gains, NSE banking records +0.12% gains while NSE Food also records +0.03% marginal gains.

At the close of trading session, the NSE All-Share Index inches up by +1.08% to close at 22,492.96 as against an upbeat by +0.60% recorded in the previous session to close at 22,253.71. In the same vein, market capitalization appreciated by N76.37 billion (US$509.00 million) to close at N7.18 trillion (US$47.85billion) as against appreciation by N42.53 billion (US$283.48 million) recorded in preceding session to close at N7.10 trillion (US$47.34billion).

The number of gainers at the close of trading session closed higher at 28 as against 20 recorded in the previous session while decliners closed lower at twenty-one (21) 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. Crusader Plc in its Q1 ’12 result recorded positive turnover growth of +43.4% and negative PAT growth of -234.4%.

2. Champion Breweries Plc in its Q1 ’12 result recorded negative turnover growth of -48.3% and negative PAT growth of -629.3%.

As usual, Financial Services sector led the market transaction volume today with 194.60 million units valued at N994.46 million (US$6.62 million) exchanged in 2,286 deals as against 304.13 million units valued at N1.67 billion (US11.13 million) exchanged in 2,139 deals recorded in previous session.

The volume recorded in the sector was driven by transaction in the shares of UBA, DIAMONDBNK, FIRSTBANK, ACCESS and FIDELITYBK Plc and the total volume of 154.18 million units valued at N751.05 million traded in five stocks accounted for 61.11% of the entire market volume and their value represented 46.57% of the market’s value.

Transaction volume on the exchange moved down by -35.77% to close at 252.29 million units exchanged in 4,068 deals as against an upbeat by +69.01% recorded in the previous trading to close at 392.80 million units exchanged in 3,906 deals.

Also, market value depreciated by -47.12% to close at N1.61 billion (US10.74 million) as against appreciation by +65.95% recorded in the previous trading session to close at N3.04 billion (US$20.32 million).

Sectoral Performance (According to New Market Segmentation)
Financial Services sector led the market sectoral performance with 194.60 million units of shares traded in 2,286 trades within the sector, followed by Consumer Goods sector to come second on the chart with 17.96 million units traded in 766 trades while Conglomerates sector recorded 15.39 million units in 123 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 70.39% contribution to market turnover, followed by Small Cap stocks with 16.85% while Large Cap stocks stake 12.76% 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 UBA, ACCESS and IBTC dominated Medium Cap of 23 traded stocks. Similarly, ASHAKACEM, GLAXOSMITH and UNITYBNK led 73 traded stocks in the Small Cap category in that order. See table below

SECTORAL REVIEW

The Agriculture sector closed with one gainer as against one gainer recorded in the previous session.

The Conglomerates sector closed with two gainers as against one gainer to one loser recorded in the previous session. Transcorp Plc closed positive with +5.00% gains after today’s trading session.

The Construction/Real Estate sector closed with one gainer to one loser as against two losers recorded in the previous session.

The Consumer Goods sector closed with five gainers to four losers as against three gainers to five losers recorded in previous session.

The Financial Services sector closed with ten gainers to eight losers as against ten gainers to six losers recorded in the previous session. GTAssure Plc moved up by +4.96% while Custodian & Allied Assurance Plc moved down by -4.52% loss after today’s trading session.

The Healthcare sector closed with one gainer to one loser compared to three gainers recorded in previous session.

The ICT sector closed with no price movement one loser recorded in previous session.

The Industrial Goods sector closed with two gainers to three losers as against one gainer to three 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 one gainer to three losers recorded in previous session.

The Services sector closed with four gainers to two losers as against 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 +54.34% gains with FCMB recording -15.38% losses while Union Bank Plc leads the chart with +115.31% gains. However, Sterling Bank Plc recorded -5.51% losses while ETI also closed negative with -11.74% loss recorded. See the tracking table below.

Acquiring Banks