230412: All-Share Index records +0.10% gain amid depressed breadth

Proshare

Today, Equity Market sustained northwards movement for the fifth session in a row to open the first trading day of the week optimistic as Blue Chips stocks lift the market indicator further in the positive territory amid depressed market breadth while the bulls consolidated on their previous gains despite low volume turnover and Naira votes recorded.

Nevertheless, the key benchmark indices sustained uptrend as sentiments remained unchanged, taking supports majorly from Medium CAP stocks which was particularly driven by FLOURMILL while Large CAP stocks also contributed to the outlook recorded today due to continuous bargain activities witnessed in Consumer Goods sector.

In the same vein, the market capitalization of 187 first-tier equities appreciated by N7.28 billion as market sentiments remained unchanged. 92 equities were traded today as against previous 100 with more activities recorded in Financial Services, Oil & Gas, Consumer Goods, Conglomerates, Industrial Goods, Services, Healthcare, ICT, Agriculture, Construction/Real Estate and Natural Resources sectors.

Today, three out of the five NSE sectoral indices closed positive as NSE 30 which basically measures the performance of blue chips maintained uptrend by +0.11%, NSE Insurance closed negative by -1.93% while NSE Oil & Gas also closed downwards by -1.62% with NSE banking recorded the highest gain by +0.40% while NSE Food also recorded +0.29% gain.

At the close of trading session, the NSE All-Share Index inches up by +0.10% to close at 21,779.33 as against an upbeat by +1.72% recorded in the previous session to close at 21,756.50. In the same vein, market capitalization appreciated by N7.28billion (US$48.52 million) to close at N6.94trillion (US$46.28billion) as against appreciation by N117.02billion (US$779.93 million) recorded in preceding session to close at N6.93trillion (US$46.24billion).
 

The number of gainers at the close of trading session closed lower at 13 as against 34 recorded in the previous session while decliners closed higher at twenty-three (23) as against thirteen (13) losers recorded in the previous trading day – suggesting a negative market breadth.
 

Today, the following companies presented their results

 

1.    Oasis Insurance Plc: in its Q1 2012 result recorded positive turnover growth of +19.98% and positive PAT growth of +24.85%.

 

2.    Stanbic IBTC Bank Plc: in its Q1 2012 result recorded positive turnover growth of +18.61% and positive PAT growth of +135.72%.

 

3.    Nem Insurance Plc: in its Audited result recorded positive turnover growth of +31.2% and positive PAT growth of +61.1%. The company declares 5k dividend. Its AGM date is 31st May 2012 while payment date is also same with closure.
 

Also, the following company presented its forecast
 

4. Flour Mills Plc Q1 2012: Turnover N72.199b Profit before Tax N3.773b Taxation (N1.207b) Profit after Tax N2.566b
 

As usual, Financial Services sector led the market transaction volume today with 373.59 million units valued at N2.64 billion (US$17.65 million) exchanged in 2,881 deals as against 534.58 million units valued at N4.18 billion (US$27.90 million) exchanged in 2,631 deals recorded in previous session.
 

The volume recorded in the sector was driven by transaction in the shares of UBA, GUARANTY, FIRSTBANK, ETI and ZENITHBANK Plc and the total volume of 282.64 million units valued at N2.47 billion traded in five stocks accounted for 64.94% of the entire market volume and their value represented 73.35% of the market’s value.

 

 

Transaction volume on the exchange moved down by -28.40% to close at 435.20 million units exchanged in 4,461 deals as against an upbeat by +110.47% recorded in the previous trading to close at 607.83 million units exchanged in 4,709 deals.

Also, market value depreciated by -39.96% to close at N3.38 billion (US$22.52 million) as against appreciation by +80.48% recorded in the previous trading session to close at N5.63 billion (US$37.52 million).
 

Sectoral Performance (According to New Market Segmentation)

Financial Services sector led the market sectoral performance with 373.59 million units of shares traded in 2,881 trades within the sector, followed by Oil & Gas sector to come second on the chart with 37.98 million units traded in 381 trades while Consumer Goods sector recorded 13.06 million units in 582 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 48.97% contribution to market turnover, followed by Large Cap stocks with 29.56% while Small Cap stocks stake 21.47% 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 ETI, IBTC and WAPCO dominated Medium Cap of 21 traded stocks. Similarly, DANGFLOUR, GLAXOSMITH and ASHAKACEM led 64 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 one gainer to one unchanged price recorded in the previous session. Livestock Feeds Plc closed with +4.26% gain while Okomu Oil Palm Plc recorded -2.46% loss after today’s trading session.

The Conglomerates sector closed with two losers and two unchanged prices as against one gainer to two unchanged prices recorded in the previous session. Transcorp Plc closed with -3.85% loss after today’s trading session.

The Construction/Real Estate sector closed with no price movement as against gainer to two unchanged prices recorded in the previous session. All prices in the sector closed flat after today’s trading session.

The Consumer Goods sector closed with four gainers to four losers as against eight gainers to one loser recorded in previous session. NASCON moved northwards by +5.00% while Dangote Flour Mills Plc moved southwards by -5.00% after today’s trading session.

The Financial Services sector closed with four gainers to nine losers as against twelve gainers to four losers recorded in the previous session. UBA moved up by +4.98% while Sterling Bank Plc moved down by -5.00% after today’s trading session.  

                                                                               

The Healthcare sector closed with one loser to five unchanged prices compared to two gainers to three unchanged prices recorded in previous session. FIDSON closed negative with -3.23% after today’s trading session.

The Information & Communication Technology sector closed with one gainer to one unchanged price as against one gainer to two unchanged prices recorded in the previous session. NCR closed with +4.98% after today’s trading session.

The Industrial Goods sector closed with one loser to seven unchanged prices as against three gainers to three losers recorded in previous session. CAP closed negative by -4.96% while after today’s trading session.

The Natural Resources sector closed with no price movement as against one loser and one unchanged price recorded in previous session. All stocks in the sector closed flat after today’s trading session.

The Oil & Gas sector closed with two one losers to six unchanged prices as against one gainer to one loser recorded in previous session. Eterna Oil Plc closed negative by -4.79% after today’s trading session.

The Services sector closed with two gainers to three losers as against two gainers to three losers recorded in the previous session. RTBRISCOE closed positive by +5.00% while Ikeja Hotel Plc closed negative with -4.84% after today’s trading session.

Further analysis on Acquiring Banks since transaction date showed that the share price of Access Bank Plc has recorded 20.40% gain, followed by FCMB with 22.82% while Union Bank Plc leads the chart with 88.04% gain. However, Sterling Bank and ETI Plc both recorded -10.24% and -0.09% loss respectively. 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. 

  

Corporate Declaration 

  

analyst@proshareng.com , 00234-1-7624131, April 23rd 2012; 17.30hrs

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