Activities on the bourse started on low drive and remained weak throughout the early trades. The afternoon session recorded more turnover as market later picked up its positive momentum and ended in green with impressive market breadth as more stocks gained weight.
The stock of Petroleum marketing, Breweries, Food & Air Services, Beverages, Building Material sectors and Rescued banks were the front-liners during the session, while the key benchmark indices subsequently edged higher by 0.31% on the back of continued active and profitable bargain witnessed across the sectors.
The impressive bargain activities recorded in Insurance, Building Material, Maritime, Foreign Listings, Air services and Other Financial Institutions sectors impacted the positive posture. However, Commercial Services and Conglomerates sectors recorded bearish sentiments.
In the same vein, the market capitalization of 199 First-tier equities, added value by N27.40 billion as more equity prices appreciated across the board on continued active buying. 125 equities were traded today with more activities in Banking, Mortgage, Insurance, Breweries, Conglomerates and Food & Beverages sectors.
Furthermore, the rescued banks maintained the impressive positive posture as the league closed with 8gainers to 1 loser on the average of 4.37% gain. Union Bank Plc dropped by 1.95% while Oceanic Bank Plc topped the league with highest points of 4.97%. 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;, Foreign Listings, Packaging, Banking, Mortgage, and Leasing sectors. See the performance table below.
Four NSE sectoral indexes closed positive as NSE 30 which basically measures the performance of blue chips in the market gained by 0.19%, NSE Insurance gained the highest points by 1.29%, NSE Food & Beverages climbed by 0.77% and NSE Oil & Gas moved up by 0.42% while NSE Banking, the only loser, declined by 0.41%.
At the close of trading session, the NSE All-Share Index gained by 0.31% to close at 27,770.11 as against an upbeat by 0.61% recorded previous session to close at 27,684.40. In the same vein, market capitalization moved up by N27.40billion (US$185.72 million) to close at N8.87 trillion (US$60.15billion) as against appreciation by N57.54billion (US$390.03million) recorded on preceding session to close at N8.84 trillion (US$59.90 billion).
The number of gainers at the close of trading session closed higher at 47 positions as against (42) gainers recorded previous session while decliners closed lower at eighteen(18) position compared with twenty-five (25) losers in the previous trading day – suggesting strong market breadth.
Today, the following companies presented their forecasts;
1. Wema Bank Plc, Q1 (March): Gross Earnings N4.881billion, Profit Before Tax N336.191million, Taxation (N50.429million), Profit After Taxation N285.762million.
2. Wema Bank Plc, Q2 (June) Gross Earnings N5.346billion, Profit Before Tax N368.209million, Taxation (N55.231million), Profit After Taxation N312.977million.
3. Wema Bank Plc Q3 (September): Gross Earnings N6.044billion, Profit Before Tax N416.236million, Taxation (N62.435million), Profit After Taxation N353.801million.
4. Wema Bank Plc, Year End (December): Gross Earnings N6.973billion, Profit Before Tax N480.272million, Taxation (N72.041million), Profit After Taxation N408.232million.
As usual, Banking sector led the market transaction volume today with 614.00 million units valued at N5.76billion (US$39.04Million) exchanged in 4,409 deals as against 428.89 million units valued at N4.29billion (US$29.10million) exchanged in 3,957 deals recorded previous session.
The volume recorded in the sector was driven by transaction in the shares of First Bank Plc, FinBank Plc, Unity Bank Plc, BankPHB Plc and Oceanic Bank Plc and the total volume of 440.59 million units valued at N4.16 billion traded in the shares of the five stocks accounted for 55.42% of the entire market volume and their value represented 56.39% of the market’s value.
Transaction volume on the exchange climbed by 45.36% to close at 795.02 million units exchanged in 7,611 deals as against a decline by -19.57% recorded previous trading to close at 546.95 million units exchanged in 6,444 deals.
Also, market value moved up by 21.87% to close at N7.38 billion (US$50.02million) as against a dip by -32.72% recorded previous trading session to close at N6.05 billion (US$41.05million).
The Agriculture/Agro-Allied sector closed today with one gainer and three unchanged prices compared with one loser and three unchanged prices recorded on Friday. Livestock Feeds Plc moved upwards by +3.28% while FTN Cocoa Processors, Presco and Okomu Oil Palm Plc remained unchanged after trading.
The Air Services sector recorded two gainers compared to one loser and one unchanged price recorded on previous trading day. Nacho Aviance Plc moved northwards by +5.00% while Air Services and Logistics Plc also moved in the same direction with +4.83% after today’s trading.
The Banking sector closed today with thirteen (13) gainers to seven (7) losers compared to eighteen (18) gainers to one (1) loser recorded on previous trading day. Oceanic Bank International and Afribank Nigeria Plc bothled the gainers’ chart in the sector with +4.97% respectively while Wema Bank and Bank PHB Plc recorded +4.83% and +4.67% gains respectively. Fidelity Bank Plc led the losers’ chart with -4.38% while Diamond Bank, Union Bank and First Bank Plc also lost by -2.91%, -1.95% and -0.99% in that order.
The Breweries sector closed with one gainer to one loser compared with three gainers and one unchanged price recorded on previous trading day. International Breweries Plc recorded +4.96% gain while Guinness Nigeria Plc lost marginally by -0.004%.
The Building materials sector, today, closed with two gainers and two unchanged prices compared with two losers and three unchanged prices recorded on previous trading day. Lafarge WAPCO and Ashaka Cement Plc both recorded +2.36% and +1.75% gains in that order while the share prices of Cement Company of Northern Nigeria and Dangote Cement Plc remained unchanged after trading.
The Conglomerates sector recorded one gainer to two losers compared with two losers and three unchanged prices recorded on Friday. Unilever Nigeria Plc moved northwards by +1.27% while AG Leventis and UAC of Nigeria Plc both moved southwards by -4.74% and -1.11% respectively
The Food and Beverages sector closed with five gainers to two losers compared with two losers and three unchanged prices recorded on previous trading day. Nigerian Bottling Company Plc led the gainers’ chart in the sector with +4.98% gain recorded while Tantalizer and UTC Nigeria Plc alsofollowed on the advancers’ chart with +4.48% and +4.23% respectively. However, Dangote Flour Mills and National Salt Company of Nigeria Plc both lost by -2.01% and -0.16% respectively.
The Insurance sector closed with five gainers to three losers compared with five three gainers to one loser recorded on previous trading day.
The Petroleum sector records two gainers to one loser compared with three gainers to one loser recorded on Friday. The share prices of African Petroleum and Beco Petroleum Plc moved northwards by +4.97% and +3.33% while Beco Petroleum Plc moved southwards by -3.77%. Other stocks in the sector remained unchanged.
Extended Trading Hours Outlook
Top Ten Gainers of the day.
Top Ten Losers of the day.
Earnings Report in Banking Sector