141112: Nigerian Stock Market resumes uptrend; inches up by +0.21%

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The bulls re-surfaced in style on the bourse after three successive sessions of negative outlook just as the renewed bargain activities witnessed today impacted market positively amid increased volume turnover while market breadth closed negative despite the outlook evidenced amid weak and positive sentiments.

Furthermore, the key benchmark indices resumed upwards  movement, taking supports majorly from Medium CAP stocks led by DANGFLOUR and CADBURY while renewed buying activities witnessed in Industrial Goods, Consumer Goods and Financial Services sectors also contributed to the outlook recorded today.

In the same vein, the market capitalization of 187 first-tier equities appreciated by N17.93 billion as market sentiments turned positive. 102 equities were traded today as against previous 95 with more activities recorded in Financial Services, Services, Oil & Gas, Consumer Goods, Conglomerates, ICT, Industrial Goods and Healthcare sectors.

Today, four NSE sectoral indices closed positive as NSE 30 which basically measures the performance of blue chips resumed uptrend by +0.31%, NSE Food closed with +0.66% gain while NSE Banking also went up by +0.14%, NSE Insurance records -1.25% loss while NSE Oil & Gas closed negative with -1.03% loss. The New NSE LII moved up by +0.88%.

At the close of trading session, the NSE All-Share Index inches up by +0.21% to close at 26,346.70 as against a decline by -0.41% recorded in the previous session to close at 26,290.42. In the same vein, market capitalization appreciated by N17.93 billion (US$119.53 million) to close at N8.39 trillion (US$55.95 billion) as against depreciation by N101.62 billion (US$677.30 million) recorded in preceding session to close at N8.37 trillion (US$55.83 billion).

The number of gainers at the close of trading session closed higher at 18 as against 12 recorded in the previous session while decliners closed lower at twenty-two (22) as against thirty-one (31) losers recorded in the previous trading day – suggesting a positive market breadth.

As usual, Financial sector led the market transaction volume today with 258.21 million units valued at N1.50 billion (US$10.00 million) exchanged in 2,486 deals as against 183.90 million units valued at N1.23 billion (US8.20 million) exchanged in 2,666 deals recorded in previous session.

The volume recorded in the sector was driven by transaction in the shares of NEM, LINKASSURE, FIRSTBANK, GUARANTY and ZENITHBANK Plc and the total volume of 134.32 million units valued at N1.11 billion traded in the stocks accounted for 34.01% of the entire market volume and their value represented 46.74% of the market’s value.

Transaction volume on the exchange moved up by +52.73% to close at 394.92 million units exchanged in 4,175 deals as against an upbeat by +19.85% recorded in the previous trading to close at 258.58 million units exchanged in 4,576 deals.

Also, market value appreciated by +7.43% to close at N2.39 billion (US15.93 million) as against appreciation by +36.21% recorded in the previous trading session to close at N2.22 billion (US14.83 million).

Sectoral Performance (According to New Market Segmentation)
Financial Services sector led the market sectoral performance with 258.21 million units of shares traded in 2,486 trades within the sector, followed by Services sector to come second on the chart with 72.97 million units traded in 67 trades while Oil & Gas sector recorded 19.85 million units in 266 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 59.82% contribution to market turnover, followed by Large Cap stocks with 24.03% while Medium Cap stocks stake 16.14% to come last on the chart.

Among the Large cap stocks, DANGCEM, NB and GUARANTY topped the 11 traded stocks in that class while ETI, UBN and FLOURMILL dominated Medium Cap of 21 traded stocks. Similarly, HONYFLOUR, STERLNBANK and UNITYBNK led 70 traded stocks in the Small Cap category in that order. See table below



SECTORAL REVIEW
The Agriculture sector closed with one gainer to one loser as against two losers recorded in the previous session.

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

The Construction/Real Estate sector closed with no price movement as against two losers recorded in the previous session.

The Consumer Goods sector closed with six gainers to three losers as against two gainers to eight losers recorded in previous session.

The Financial Services sector closed with four gainers to ten losers as against two gainers to fifteen losers recorded in the previous session.

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

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

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

The Natural Resources sector closed with no price movement as against flat position recorded in previous session.

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

The Services sector closed with one gainer 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 +72.93% gains with FCMB recording -17.69% losses while Union Bank Plc leads the chart with +268.42% gains. However, Sterling Bank Plc recorded +15.75% gains while ETI closed positive with -6.94% gains 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

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