Today, Nigerian Capital Market sustained the uptrend recorded yesterday as bulls maintained their positions to keep the market afloat in a volatile session, taking support from renewed rally towards blue chip stocks particularly in Banking, Breweries and Food & Beverages sectors as value investing dominated market atmosphere.
More so, the key benchmark indices gained above 100 basis points to climb further by 0.55%, hovering around two weeks high while market breadth closed weaker against previous position- an indication of pounding sell position.
Furthermore, the continued bargain activities in Conglomerate sector driven by Transcorp Plc coupled with slight buying Agriculture, Construction and road transportation impacted the outlook while majority of sectors closed with more flat positions.
In the same vein, the market capitalization of 199 First-tier equities, appreciated by N43.03 billion as bargain sentiments increased. 126 equities were traded today as against previous 130 with more activities recorded in Banking, Conglomerates, InfoTech, Insurance and Food & Beverages sectors.
Also, the rescued banks witnessed bearish sentiments as the league closed with 3 gainers, 5 losers and 1 flat position, on the average of 2.01% gain and -3.43% loss. BankPHB Plc shed the highest weight by -4.20% loss while Spring Bank Plc topped the leaguewith 4.35% gain. See the performance chart below.
More so, our trend analysis revealed impressive value growth in the following sectors when compared today’s figures with the average figures recorded prior to extended trading hours; Packaging, Food & Beverages, Conglomerates, Construction and Banking. See the performance table below.
Three NSE sectoral indices closed positive as NSE 30 which basically measures the performance of blue chips in the market gained by 1.73%, NSE Banking gained the highest points by 2.71%, NSE Food & Beverages moved up by 1.63% while NSE Insurance dropped further by -0.32% and NSE Oil & Gas dipped again by -0.12%.
At the close of trading session, the NSE All-Share Index gained by 0.55% to close at 24,816.67 as against an upbeat by 0.03% recorded previous session to close at 24,681.99. In the same vein, market capitalization appreciated by N43.03billion (US$291.63million) to close at N7.92trillion (US$53.73billion) as against appreciation by N1.99billion (US$13.50million) recorded on preceding session to close at N7.88trillion (US$53.44 billion).
The number of gainers at the close of trading session closed lower at 26 positions compared with (31) gainers recorded previous session while decliners closed lower at twenty-five (25) position compared with twenty-six (26) losers in the previous trading day – suggesting weak breadth.
Today, RT Briscoe Plc in its audited result recorded negative turnover growth of -0.7% and negative PAT growth of -47.3%. The company proposed N0.10kobo dividend and 1 for 5 bonus
Also, Royal Exchange Plc 6 Months (January-June): Gross Earnings N2.150billion, Profit Before Tax N387.522million, Taxation (N125.766million), Profit After Taxation N261.756million.
As usual, banking sector led the market transaction volume today with 217.78 million units valued at N1.97 billion (US$13.38Million) exchanged in 3,319 deals as against 199.38 million units valued at N1.90 billion (US$12.90million) exchanged in 3,059 deals recorded previous session.
The volume recorded in the sector was driven by transaction in the shares of Zenith Bank Plc, Guaranty Trust Bank Plc, UBA Plc, Diamond Bank Plc, and Finbank Plc, and the total volume of 143.48 million units valued at N1.50 billion traded in the shares of the five stocks accounted for 47.06% of the entire market volume and their value represented 41.65% of the market’s value.
Transaction volume on the exchange moved up by 5.47% to close at 304.88 million units exchanged in 5,589 deals as against an upbeat by 37.86% recorded previous trading to close at 289.05million units exchanged in 5,607 deals.
Also, market value appreciated by 29.72% to close at N3.62 billion (US$24.53million) as against appreciation by 69.50% recorded in the previous trading session to close at N2.79billion (US$18.91million).
The Agriculture/Agro-Allied sector closed today with one gainer and two unchanged prices compared with no price movement recorded on Tuesday. FTN Cocoa Processors Plc advanced northerly by +2.00% while Livestock Feeds and Presco Plc closed unchanged after today’s trading.
The Air Services sector recorded no price movement compared with two gainers recorded on previous trading day. All stocks in the sector closed unchanged after today’s trading session
The Banking sector closed today with twelve (12) gainers to six (6) losers compared with eleven (11) gainers to eight (8) losers was also recorded on previous trading day. First Bank of Nigeria Plc led the gainers’ chart in the sector with +4.52% gains recorded while Spring Bank, Guaranty Trust Bank and Zenith Bank Plc also recorded +4.35%, +3.68% and +3.59% gains respectively. Bank PHB Plc led the losers’ chart with -4.20% while Wema Bank, Oceanic Bank, and Fin Bank Plc also lost by -3.85%, -3.45% and -2.90% in that order.
The Breweries sector closed with three gainers compared with one gainer to one loser recorded on previous trading day. Guinness3Breweries Plc moved up by+4.86% while International and Nigerian Breweries Plc both moved down marginally by -1.85% and -0.22% after today’s trading.
The Building materials sector, today, closed with four losers compared with two gainers to one loser recorded on previous trading day. Dangote Cement and Ashaka Cement Plc both moved southwards by -1.99% and -1.70% respectively while two other stocksalso closed negative in the sector after today’s trading.
The Conglomerates sector recorded two gainers and five unchanged prices compared with two gainers to one loser recorded on Tuesday. Transcorp and Unilever Nigeria Plc both moved up by +4.40% and +0.17% while PZ Plc and four other firms closed flat after today’s trading session.
The Food and Beverages sector closed with three gainers to one loser compared with three gainers to four losers recorded on previous trading day. Tantalizer and Nestle Nigeria Plc both advanced by +4.92% and +3.45% respectively while Northern Nigeria Flour Mills Plc declined by -4.99% after today’s trading session.
The Insurance sector closed with two gainers to two losers compared with three gainers to three losers recorded on previous trading day.
The Petroleum sector records two losers compared with one gainer to one loser was recorded on Tuesday .The share price of Eterna Oil Plc moved down by -4.83% while Oando Plc alsomoved down by -0.29%. Other stocks in the sector remained unchanged after today’s trading session.
Extended Trading Hours Outlook
Earnings report for banks
Top Ten Gainers of the day.
Top Ten Losers of the day.