040310: Equities market maintains negative outlook despite CBN liquidity boost stance.



The waning trend of the equities market entered two days in a row today leading to aggregate decline within the period closing at -0.38%. The market consequently closed lower with All-Share Index shedding -0.31% to close at 22,931.43 compared with the previous day’s negative trend of -0.07% to close at 23,003.51. Market capitalization at the close of trading session declined by N17.375 billion ($US115.835 million) to close at N5.523 trillion ($US36.819 billion) compared with N3.753 billion ($US25.017 million) to close at N5.540 trillion ($US36.934 billion) of the previous trading day. Notwithstanding the CBN liquidity boost stance, the lull in the market still persists as plunge in stock prices across almost all the sectors remains on the upbeat. The distress was inclusive of many of the blue chips stocks that had been the market performance boosters in the recent time. The market eventually closed with advancers and decliners ratio of 1:0.9
The trend across the sectors showed that Food and Beverages rebounded to positive growth at the close of trading session; the performance was mainly boosted by the upbeats recorded in the shares of Cadbury Nigeria Plc and NASCON Plc. Conglomerate and Construction sectors recorded PZ and Costain as the sole gainers for the sectors respectively. Rtbriscoe Plc, Fidson Healthcare Plc and Capital Hotel Plc also recorded price appreciation in their respective sectors at the close of market today. Insurance sector posted an encouraging outlook today after days of consistent decline. In contrast, the plunge in the banking stocks was more severe today even as African Petroleum Plc stock maintained southward direction.
The transactions volume at the close of trading today rose by +9.79% to close at 364.388 million units exchanged in 7,541 deals compared with +11.69% to close at 331.901 million units exchanged in 6,649 deals recorded yesterday. Zenith Bank Plc which repeated the highest traded stock status today contributed more to the rise as the trades in the shares of the bank alone accounted for 25.59% of the entire market volume. Market value recorded growth by +7.12% to close at N3.114 billion ($US20.890 million) compared with +42.61% to close at N2.925 billion ($US19.501 million) of the previous trading day. At the close of trading, out of 141 stocks traded today, 40 advanced, 36 declined and 65 retained their previous day’s prices compared with 33 gainers, 40 decliners and 63 unchanged recorded yesterday. Costain West Africa Plc led the gainers chart for the day with +4.95% price appreciation, while on the other hand Unic Insurance Plc, Unity Kapital Plc and University Press Plc emerged the highest loser with price decline by -5%.
The total volume traded in the shares of top five trades for the day closed at 148.552 million units valued at N2.096 billion ($US13.972 million) exchanged in 1,995 deals . The volume and value of their trades accounted for 41% and 67% of the market volume and value in that other. Zenith Bank Plc topped the day’s market volume traded with 93.266 million units valued at N1.464 billion exchanged in 344 deals, the stock price shed weight by -1.34%. First Bank Plc traded the next rank of volume closing at 15.534 million units valued at N226.458 million exchanged in 892 deals to record price depreciation by -0.61%. Courtville Investment Plc traded 14.050 million units valued at N7.025 million exchanged in 17 deals; the price of the stock remained unchanged. The volume traded in the shares of United Bank for Africa Plc closed at 13.118 million units valued at N170.915 million exchanged in 271 deals, the price of the stock declined by -0.38%. Guaranty Trust Bank Plc recorded the fifth most traded volume figure closing at 12.580 million units valued at N227.171 million exchanged in 471 deals to record price decline by -1.85%.

Two of the four sectoral indexes closed higher today with Insurance NSE-Index leading +0.60% to close at 196.95. NSE-Food and Beverages followed by +0.57% to close at 633.76, NSE-Banking Index declined by -0.74% to close at 378.65, NSE-Oil and Gas depreciated by -0.69% to close at 302.15 and NSE-30 Index declined by -0.34% to close at 919.23.
Top 10 Gainers of the day
Top Ten Losers for the day
Rtbriscoe Plc, Red Star Express Plc, Tantalizer Plc, May & Baker Plc and ABC Transport Plc closed on bid at the close of trading today.
However, Capoil Plc, Presco Plc, Air Service Plc, UACN Plc, Julius Berger Plc, UTC Plc, Evan Medical Plc, Ikeja Hotel Plc, Continental Insurance Plc, Unic Insurance Plc, Unity Kapital Plc, University Press Plc, UAC-Property Plc and ETI closed on strong offer.
Nampak Nigeria Plc first quarter report for the period ended 31st December, 2009: Turnover for the period grew by +25.38% to close at N1.146 billion from N911.450 million of the preceding year’s comparable period. Profit after tax in the period rebounded by +150.11% to close at N72.762 million as against loss position of the previous year standing at (N145.201 million). Working capital situation improved by +31.42% to close at (N185.240 million) from (N270.108 million) of the previous year. Net assets grew by +17.14% to close at N497.179 million compared with N424.415 million of the preceding year.


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