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080212: All-Share Index dips further as market sentiments remain unchanged

Category: Daily & Weekly Market Updates


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080212: All-Share Index dips further as market sentiments remain unchanged

Equity market closed red for the second consecutive session to maintain previous negative position while investors and market stakeholders continue to await corporate announcements from top performing banks and Blue Chips which may attract more patronage to the market.

Furthermore, Small and Medium Cap stocks dominates losers’ chart as bearish sentiments persists, taking hits from Blue Chip, Insurance and Banking stocks while major NSE sectoral indices closed with mixed position as against previous negative figures.

The continuous selling activities in Conglomerates, Construction/Real Estate, Financial Services, Healthcare, Industrial Goods, Oil & Gas and Services sectors impacted the outlook recorded today. Meanwhile, moderate buying activities was witnessed in Agriculture and Consumer Goods sectors.

In the same vein, the market capitalization of 186 first-tier equities depreciated by N31.17 billion as market sentiments remained negative. 102 equities were traded today as against previous 98 with more activities recorded in Financial Services, Agriculture, Consumer Goods, Services, Oil & Gas, Industrial Goods, Healthcare, Construction/Real Estate and Conglomerates sectors.

Today, three out of the five NSE sectoral indices closed negative as NSE 30 which basically measures the performance of blue chips maintained downtrend by -0.53%, NSE Oil & Gas closed northwards by +0.55% as NSE Food & Beverages closed uptick by +0.004% while NSE Insurance recorded -1.02% loss with NSE Banking recording the highest loss by -1.59%.

At the close of trading session, the NSE All-Share Index dips by -0.48% to close at 20,693.84 as against an upbeat by +0.27% recorded in the previous session to close at 20,792.75. In the same vein, market capitalization depreciated by N31.17billion (US$207.75million) to close at N6.52trillion (US$43.46billion) as against depreciation by N26.75billion (US$178.30million) recorded in preceding session to close at N6.55trillion (US$43.67billion).
 

The number of gainers at the close of trading session closed lower at 11 as against 15 recorded in the previous session while decliners closed higher at twenty-eight (28) as against twenty-seven (27) losers recorded in the previous trading day – suggesting a negative market breadth.
 

Today, the following company presented its result
 

1. Chellarams Plc: in its Audited 2011 result recorded positive gross earnings growth by 13.9% and positive PAT growth by 7.3%.
 

Also, the following company presented its forecast
 

2. UBA Plc Q1 2012: Gross Earnings N59.4b Interest Expenses (N16.2b) Other Operating Income N19.0b Operating Expense (N28.1b) Profit before Tax N15.1b   Forecast Taxation (N3.0bm) Profit after Tax N12.1b
 

Financial Services sector led the market transaction volume today with 467.73 million units valued at N1.45 billion (US$9.68 million) exchanged in 2,384 deals as against 127.42 million units valued at N832.07 million (US$5.54 million) exchanged in 2,200 deals recorded in previous session.
 

The volume recorded in the sector was driven by transaction in the shares UBA, First Bank, Skye Bank, Diamond Bank and Access Bank Plc and the total volume of 409.07 million units valued at N1.17 billion traded in five stocks accounted for 80.69% of the entire market volume and their value represented 30.67% of the market’s value.

Transaction volume on the exchange moved up by +132.50% to close at 506.95 million units exchanged in 3,987 deals as against a decline by -48.74% recorded in the previous trading to close at 218.04 million units exchanged in 3,796 deals.
 

Also, market value depreciated by -16.95% to close at N1.89 billion (US$12.60 million) as against depreciation by -7.82% recorded in the previous trading session to close at N2.27 billion (US$15.17 million).
 

Sectoral Performance (According to New Market Segmentation)
Financial Services
sector led the market sectoral performance with 467.73 million units of shares traded in 2,384 trades within the sector, followed by Agriculture sector to come second on the chart with 12.58 million units traded in 63 trades while Consumer Goods sector recorded 8.97 million units in 653 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 78.23% contribution to market turnover, followed by Small Cap stocks with 11.80% while Large Cap stocks stake 9.98% 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 FLOURMILL, IBTC and WAPCO Plc dominated Medium Cap of 23 traded stocks. Similarly, UBN, CONOIL and GLAXOSMITH led 71 traded stocks in the Small Cap category in that order. See table below  

 

 SECTORAL REVIEW 

The Agriculture sector closed with two gainers the same market posture recorded in the previous session. LIVESTOCK closed with +4.94% after today’s trading session.

The Conglomerates sector closed with one loser as against no price movement recorded in the previous session. UACN closed negatively by 0.03% after today’s trading session.

The Construction/Real Estate sector closed with one loser as against no price movement recorded in previous session. JBERGER moved down by -3.81% after today’s trading session.

The Consumer Goods closed with two gainers to three losers compared with three gainers to five losers recorded in previous session. VITAFOAM moved northwards by +5.00% while DANGFLOUR moved southwards by -4.92% after today’s trading session.

The Financial Services sector closed with five gainers to twelve losers as against four gainers to thirteen losers recorded in the previous session. WAPIC moved up by +4.00% while GOLDINSURE moved down by -4.92% after today’s trading session.

The Healthcare sector closed with two losers the same market outlook recorded in previous session. FIDSON closed by -3.95% after today’s trading session.

The Information & Communication Technology sector closed with no price movement as against one loser recorded in the previous session. All stocks in the sector closed flat after today’s trading session.

The Industrial Goods sector closed with one gainer to two losers as against one gainer to one loser recorded in previous session. WAPCO moved northwards by 0.73% while BAGCO moved southwards by -4.71% after today’s trading session.

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

The Oil & Gas sector closed with one gainer to one loser as against two gainers to one loser recorded in previous session. OANDO closed by +2.51% while JAPAULOIL closed by -3.85% after today’s trading session.

The Services sector closed with three losers as against two gainers to four losers recorded in the previous session. NAHCO closed negative by 4.99% after today’s trading session.

Further analysis on Acquiring Banks showed that the share prices of Access Bank Plc closed positive with +2.63% as ETI closed negative with -2.72% while FCMB Plc closed flat. Sterling Bank Plc moved northwards by +1.22% while Union Bank Plc also closed flat after today’s trading session. 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


 Follow the link to get the latest banking results details   

analyst@proshareng.com , 00234-1-7624131, February 8th, 2012; 17.30hrs



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