190612 Nigerian Stock Market trims losses to close green; inches up by +0.26%

Category: Daily & Weekly Market Updates

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190612 Nigerian Stock Market trims losses to close green; inches up by +0.26%

Equity Market retracted to close upbeat after three uninterrupted sessions of negative outlook due to renewed bargain activities witnessed on the bourse amid negative market breadth while the bulls re-surfaced in style to dominate today’s transactions.

Nevertheless, the key benchmark indices resumed uptrend as sentiments closed negative, taking supports majorly from Large CAP stock which was particularly driven by GUARANTY.

In the same vein, the market capitalization of 187 first-tier equities appreciated by N17.14 billion as market sentiments turned green. 111 equities were traded today as against previous 102 with more activities recorded in Financial Services, Conglomerates, Consumer Goods, Industrial Goods, Oil & Gas, Services, Healthcare, Agriculture, Construction/Real Estate, ICT and Natural Resources sectors.

Today, four out of five NSE sectoral indices closed positive as NSE 30 which basically measures the performance of blue chips resumed uptrend by +0.24%, NSE Insurance closed with +0.13% gain while NSE Oil & Gas maintained downtrend with -0.66% loss with NSE banking recording +0.06% marginal gain while NSE Food also recorded +1.01% gain.

At the close of trading session, the NSE All-Share Index inches by +0.26% to close at 21,082.10 as against a decline by -0.32% recorded in the previous session to close at 21,028.39. In the same vein, market capitalization appreciated by N17.14 billion (US$114.28 million) to close at N6.73 trillion (US$44.85billion) as against depreciation by N49.86 billion (US$332.29 million) recorded in preceding session to close at N6.71 trillion (US$44.73billion).

The number of gainers at the close of trading session closed lower at 23 as against 24 recorded in the previous session while decliners closed higher at twenty-five (25) as against nineteen (19) losers recorded in the previous trading day – suggesting a negative market breadth.

Today, the following company presented its result

1. Prestige Assurance Plc in its Q1 2012 result recorded negative turnover growth of -0.9% and positive PAT growth of +6.4%.

As usual, Financial Services sector led the market transaction volume today with 187.52 million units valued at N853.26 million (US$5.68 million) exchanged in 2,312 deals as against 106.05 million units valued at N600.68 million (US4.00 million) exchanged in 1,847 deals recorded in previous session.

The volume recorded in the sector was driven by transaction in the shares of GOLDINSURE, WAPIC, ZENITH, DIAMOND and GUARANTY Plc and the total volume of 129.93 million units valued at N534.63 million traded in five stocks accounted for 55.86% of the entire market volume and their value represented 36.76% of the market’s value.

Transaction volume on the exchange moved up by +49.33% to close at 232.61 million units exchanged in 3,863 deals as against a decline by -92.29% recorded in the previous trading to close at 155.77 million units exchanged in 3,432 deals.

Also, market value appreciated by +27.21% to close at N1.45 billion (US9.69 million) as against depreciation by -59.29% recorded in the previous trading session to close at N1.14 billion (US$7.61 million).

Sectoral Performance (According to New Market Segmentation)

Financial Services sector led the market sectoral performance with 187.52 million units of shares traded in 2,312 trades within the sector, followed by Conglomerates sector to come second on the chart with 17.37 million units traded in 113 trades while Consumer Goods sector recorded 11.37 million units in 722 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 46.36% contribution to market turnover, followed by Medium Cap stocks with 34.19% while Large Cap stocks stake 19.44% 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 UBA, IBTC and WAPCO dominated Medium Cap of 22 traded stocks. Similarly, ASHAKACEM, GLAXOSMITH and ETRANZACT led 81 traded stocks in the Small Cap category in that order. See table below

SECTORAL REVIEW

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

The Conglomerates sector closed with three losers as against one gainer to two losers recorded in the previous session. Transcorp Plc closed with -4.44% losses after today’s trading session.

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

The Consumer Goods sector closed with five gainers to three losers as against five gainers to one loser recorded in previous session.

The Financial Services sector closed with nine gainers to seven losers as against nine gainers to six losers recorded in the previous session. Union Bank Plc moved up by +4.95% while Custodian & Allied Insurance Plc moved down by -4.85% loss after today’s trading session.

The Healthcare sector closed with two gainers to three losers compared to one gainer to two losers recorded in previous session.

The ICT sector closed with one loser as against any price movement in the previous session.

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

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

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

The Services sector closed with three gainers as against four gainers recorded in the previous session.

Further analysis on Acquiring Banks since transaction date showed that the share price of Access Bank Plc has recorded +26.06% gains with FCMB recording -21.79% losses while Union Bank Plc leads the chart with +82.78% gains. However, Sterling Bank Plc recorded -11.81% losses while ETI also closed negative with -9.17% loss recorded. See the tracking table below.

Acquiring Banks