030912 Equity market opens the week positive; ASI inches up by +0.48%

Proshare

Trading activities on the Nigerian bourse closed positive for the seventh session in a row to open the first trading day of the week optimistic amid low volume turnover and Naira votes while market breadth closed very impressive with three (3) gainers to every loser observed today.

More so, the key benchmark indices maintained northwards movement, taking supports majorly from Medium CAP stocks led by CADBURY and UBN while continuous buying activities witnessed in Agriculture, Conglomerates, Consumer Goods, Financial Services, Healthcare, Industrial Goods Oil & Gas and Services sectors also contributed to the outlook recorded today.

In the same vein, the market capitalization of 187 first-tier equities appreciated by N36.04 billion as market sentiments remained positive. 93 equities were traded today as against previous 113 with more activities recorded in Financial Services, Conglomerates, Consumer Goods, Industrial Goods, Oil & Gas, Services and Agriculture sectors.

Today, five NSE sectoral indices closed positive as NSE 30 which basically measures the performance of blue chips sustained uptrend by +0.39% gains, NSE Food closed with +0.41% gains while NSE Banking also closed with +0.05% marginal gain, NSE Insurance records +0.38% gain while NSE Oil & Gas closed negative with -0.01% marginal loss. The New NSE LII closed positive with +0.49% gains.

At the close of trading session, the NSE All-Share Index inches up by +0.48% to close at 23,864.05 as against an upbeat by +0.20% recorded in the previous session to close at 23,750.82. In the same vein, market capitalization appreciated by N36.04 billion (US$240.19 million) to close at N7.59 trillion (US$50.62billion) as against appreciation by N14.79 billion (US$98.58 million) recorded in preceding session to close at N7.56 trillion (US$50.38billion).

The number of gainers at the close of trading session closed higher at 30 as against 22 recorded in the previous session while decliners closed lower at ten (10) as against twenty-three (23) losers recorded in the previous trading day – suggesting a positive market breadth.

Today, the following companies presented their forecasts

 
Access Bank Plc Q4 ’12 forecast: Gross Earnings N56.399b Profit before Tax N15.376b Forecast Taxation (N3.383b) Profit after Tax N11.993b

 

Cornerstone Insurance Plc Q4 ’12 forecast: Insurance Premium Revenue N1.050b Net Investment & Other Income N231.005m Insurance Benefit & Adjustment Expenses (N1.061b) Profit before Tax N219.915m Taxation (N43.983m) Profit after Tax N175.932m
 

Nestle Nigeria Plc Q4 ’12 forecast: Turnover N29.762b Profit before Tax N4.900b Taxation (N715m) Profit after Tax N4.185b
 

As usual, Financial services sector led the market transaction volume today with 103.12 million units valued at N834.13 million (US$5.55 million) exchanged in 2,174 deals as against 214.56 million units valued at N1.61 billion (US10.76 million) exchanged in 2,538 deals recorded in previous session.

The volume recorded in the sector was driven by transaction in the shares of FIRSTBANK, GUARANTY, FIDELITYBK, UBA and ZENITHBANK Plc and the total volume of 68.29 million units valued at N735.98 million traded in five stocks accounted for 51.13% of the entire market volume and their value represented 59.43% of the market’s value.

Transaction volume on the exchange moved down by -57.43% to close at 133.57 million units exchanged in 3,561 deals as against a decline by -13.78% recorded in the previous trading to close at 313.79 million units exchanged in 4,232 deals.

Also, market value depreciated by -49.83% to close at N1.24 billion (US8.26 million) as against appreciation by +4.19% recorded in the previous trading session to close at N2.45 billion (US$16.33 million).

Sectoral Performance (According to New Market Segmentation)

Financial Services sector led the market sectoral performance with 103.12 million units of shares traded in 2,174 trades within the sector, followed by Conglomerates sector to come second on the chart with 10.12 million units traded in 127 trades while Consumer Goods sector recorded 7.53 million units in 619 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 43.97% contribution to market turnover, followed by Large Cap stocks with 33.20% while Small Cap stocks stake 22.83% to come last on the chart.

Among the Large cap stocks, DANGCEM, GUARANTY and NB Plc topped the 7 traded stocks in that class while ACCESS, ETI and UBA dominated Medium Cap of 24 traded stocks. Similarly, ASHAKACEM, INTBREW and UNITYBNK led 62 traded stocks in the Small Cap category in that order. See table below

 


SECTORAL REVIEW


The Agriculture sector closed two gainers to one loser as against no price movement recorded in the previous session.

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

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

The Consumer Goods sector closed with one gainer to one loser as against six gainers to four losers recorded in previous session.

The Financial Services sector closed with five gainers to two losers as against eight gainers to eight losers recorded in the previous session. NPF Microfinance Bank Plc moved up by +5.00% while Goldlink Insurance Plc moved down by -1.92% loss after today’s trading session.           

The Healthcare sector closed with one gainer compared to one gainer to four losers recorded in previous session.

The ICT sector closed with no price movement compared with any price movement recorded in previous session.

The Industrial Goods sector closed with two gainers to one loser as against three 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.

The Oil & Gas sector closed with one gainer to one loser as against two losers recorded in previous session.

The Services sector closed with two gainers as against three gainers to two 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 +55.56% gains with FCMB recording -22.31% losses while Union Bank Plc leads the chart with +155.98% gains. However, Sterling Bank Plc recorded -16.54% losses while ETI also closed negative with -10.03% loss recorded. See the tracking table below.

Acquiring Banks

 

Stocks That Made Headlines Today

 

Earnings Report for Banks

Top Trades

 

Sectoral Index

 

Market Outlook by Capitalisation

 

Top Ten Gainers of the day.

 

Top Ten Losers of the day.

 

analyst@proshareng.com , 00234-1-7624131, September 3rd 2012; 16.35hrs

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