040112: All-Share Index dips by -0.17%; NSE places Ecobank Nigeria Plc on full suspension.

Proshare

Today, Nigerian stocks maintained southwards movement for the third consecutive session as pessimistic trading permeates market activities while investors continue to tread cautiously as market lacks any positive news that could drive sustainable uptrend.

Furthermore, the key benchmark sheds 35.99 basis points as bearish sentiments persist, taking hits from Blue Chip, Banking, Oil & Gas, Insurance and Food & Beverages stocks while all major NSE sectoral indices closed with negative posture as against previous outlook.

The sell pressure in Conglomerates, Consumer Goods, Financial Services and Services sectors impacted the outlook recorded today. Meanwhile, buying activities was witnessed in Agriculture, Healthcare, Industrial Goods and Oil & Gas sectors.

In the same vein, the market capitalization of 186 first-tier equities depreciated by N11.34 billion as market sentiments remained negative. 90 equities were traded today as against previous 90 with more activities recorded in Consumer Goods, Financial Services, Oil & Gas, Services, Natural Resources, Agriculture, Conglomerates and Industrial Goods sectors.
 

Today, all five NSE sectoral indices closed negative as NSE 30 which basically measures the performance of blue chips retraced by -0.28%, NSE Oil & Gas also retraced with -0.23% as NSE Food & Beverages also moved down by -0.02% while NSE Insurance sustained downtrend by -0.12% with NSE Banking recording -0.56% loss.
 

At the close of trading session, the NSE All-Share Index dips by -0.17% to close at 20,635.07 as against a decline by -0.29% recorded in the previous session to close at 20,671.06. In the same vein, market capitalization depreciated by N11.34billion (US$75.57million) to close at N6.50trillion (US$43.33billion) as against depreciation by N18.77billion (US$125.10million) recorded on preceding session to close at N6.51trillion (US$43.41billion).
 

The number of gainers at the close of trading session closed lower at 18 as against 30 recorded in the previous session while decliners also closed higher at twenty-one (21) as against thirteen (13) losers recorded in the previous trading day – suggesting a negative market breadth.
 

Today, NSE placed Ecobank Nigeria Plc on full suspension following the court ordered meeting held on Thursday December 22, 2011 in preparation for the delisting of the bank from the stock exchange.
 

Consumer Goods sector led the market transaction volume today with 518.14 million units valued at N1.26 billion (US$8.40 million) exchanged in 587 deals as against 8.69 million units valued at N485.25 million (US$3.23 million) exchanged in 435 deals recorded in previous session.
 

The volume recorded in the sector was driven by transaction in the shares of Champion Breweries Plc and the total volume of 513.00 million units valued at N949.07 million traded in five stocks accounted for 80.20% of the entire market volume and their value represented 49.45% of the market’s value.
 

Transaction volume on the exchange moved up by +542.08 to close at 639.62 million units exchanged in 2,654 deals as against an upbeat by -91.36% recorded in the previous trading to close at 99.61 million units exchanged in 2,420 deals.

Also, market value appreciated by +97.27% to close at N1.91 billion (US$12.79million) as against depreciation by -88.79% recorded in the previous trading session to close at N972.86 million (US$6.48million).
 

Sectoral Performance (According to New Market Segmentation)
Consumer Goods
sector led the market sectoral performance with 518.14 units of shares traded in 587 trades within the sector, followed by Financial Services sector to come second on the chart with 99.03 million units traded in 1,529 trades while Oil & Gas sector recorded 9.13 million units in 244 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 Small Cap stocks according to new market segmentation topped today's market activity with 84.39% contribution to market turnover, followed by Medium Cap stocks with 10.77% while Large Cap stocks stake 4.84% 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 IBTC, WAPCO and FLOURMILL Plc dominated Medium Cap of 23 traded stocks. Similarly, HONYFLOUR, CONOIL and GLAXOSMITH led 60 traded stocks in the Small Cap category in that order. See table below
 

 
 

SECTORAL REVIEW 

The Agriculture sector closed with two gainers as against one gainer recorded in the previous session. OKOMUOIL and LIVESTCK moved up by +4.98%, and +4.00% respectively after today’s trading session.

The Conglomerates sector closed one loser as against no price movement recorded in the previous session. UACN moved down by -4.70% after today’s trading session.

The Construction/Real Estate sector closed with no price movement the same market posture recorded in previous session. All prices in the sector closed flat after today’s trading session.

The Consumer Goods closed with five gainers to four losers compared with eight gainers to three losers recorded in previous session. DANGFLOUR moved northwards by +4.78% while CHAMPION moved southwards by -54.09% after today’s trading session.

The Financial Services sector closed with five gainers to ten losers compared with ten gainers to eight losers recorded in the previous session. ACCESS moved up by +4.96% while STERLNBANK moved down by -4.95% after today’s trading session.

The Healthcare sector closed with two gainers the same market outlook recorded in previous session. FIDSON moved up by +4.88% and MAYBAKER by +4.81% after today’s trading session.

The Information & Communication Technology sector closed with no price movement the same market posture recorded in previous session. All prices in the sector closed flat after today’s trading session.

The Industrial Goods sector closed with one gainer to one loser as against three gainers recorded in previous session. CCNN moved northwards by +4.61% while BAGCO moved southwards by -0.58% after today’s trading session.

The Natural Resources sector closed with no price movement as no price movement was also recorded in previous session. All stocks in the sector closed flat after today’s trading session.

The Oil & Gas sector closed with two gainers to two losers as against two gainers recorded in previous session. FO moved northwards by +5.00% while ETERNAOIL moved southwards by -5.00% after today’s trading session.
 

The Services sector closed with one gainer to two losers as against three gainers to two losers recorded in the previous session. TRANSCORP moved up by +1.79% while IKEJAHOTEL moved down by -4.94% after today’s trading session.
 

Further analysis on Acquiring Banks showed that the share prices of Access Bank Plc closed positive by +4.96% as ETI Plc also moved in the same direction with +1.43% while FCMB Plc closed positive with +2.20% gain. Sterling Bank Plc closed negative with -4.95% while Union Bank Plc also closed flat following the completion of their share reconstruction exercise. See the tracking table below.
 

Acquiring Banks  

  

Earnings Report for Banks 

  

Top Trades 

  

Sectoral Index 

 
  

Market Outlook by Capitalisation 

  

Top Ten Gainers of the day. 

  

Top Ten Losers of the day. 

  


Follow the link to get the latest banking results details 
analyst@proshareng.com , 00234-1-7624131, January 4th, 2012; 17.50hrs
 

Anyone attending the fuel subsidy protest to email pictures, updates and contacts to info@proshareng.com  or tweet to #Proshare #ProshareNigeria  and BB 270EBDEE

 

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