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200212: Nigerian Stock Market maintains uptrend amid weak breadth

Category: Daily & Weekly Market Updates


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200212: Nigerian Stock Market maintains uptrend amid weak breadth

Equity market closed in the green zone for the second consecutive session to open the first trading day of the week optimistic just as investors remained cautious amid weak and depressing market breadth while NSE woos Major companies operating in the telecommunications, oil and gas and power sectors of the economy with incentives and benefits in order to list their shares.

Furthermore, the key benchmark indices garnered 28.08 basis points to retain northwards movement as sentiments remained unchanged, taking supports from Blue Chip, Banking, Food & Beverages, Insurance and Oil & Gas stocks while major NSE sectoral indices closed with positive figures.

The continuous bargain activities in Agriculture, Conglomerates, Financial Services, Healthcare, Industrial Goods, Oil & Gas and Services sectors impacted the outlook recorded today. Meanwhile, a low-key selling activity was witnessed in Consumer Goods sector.

In the same vein, the market capitalization of 186 first-tier equities appreciated by N8.85 billion as market sentiments remained positive. 89 equities were traded today as against previous 91 with more activities recorded in Financial Services, Services, Consumer Goods, Oil & Gas, Conglomerates, Industrial Goods, Agriculture, Healthcare, ICT and Construction/Real Estate sectors.

Today, All five NSE sectoral indices closed positive as NSE 30 which basically measures the performance of blue chips maintained uptrend by +0.19%, NSE Oil & Gas closed upbeat by +1.15% as NSE Food & Beverages also closed uptick by +0.36% while NSE Insurance recorded +1.78% gain with NSE Banking recording +0.24% gain.

At the close of trading session, the NSE All-Share Index inches up by +0.14% to close at 20,439.25 as against an upbeat by +0.48% recorded in the previous session to close at 20,411.17. In the same vein, market capitalization appreciated by N8.85billion (US$58.99million) to close at N6.44trillion (US$42.92billion) as against appreciation by N30.59billion (US$203.91million) recorded in preceding session to close at N6.43trillion (US$42.87billion).
 

The number of gainers at the close of trading session closed lower at 22 as against 30 recorded in the previous session while decliners closed higher at twenty-three (23) as against nineteen (19) losers recorded in the previous trading day – suggesting a negative market breadth.
 

Today, the following company presented its result
 

1. New Gold Issuer Ltd: in its Q3 2011 result recorded positive turnover growth of 12.43% and positive PAT growth of 17.78%.
 

As usual, Financial Services sector led the market transaction volume today with 300.01 million units valued at N1.75 billion (US$11.71 million) exchanged in 1,874 deals as against 370.86 million units valued at N1.72 billion (US$11.52 million) exchanged in 1,867 deals recorded in previous session.
 

The volume recorded in the sector was driven by transaction in the shares UBA, Zenith Bank, Skye Bank, Crusader Nigeria and Access Bank Plc and the total volume of 249.69 million units valued at N1.44 billion traded in five stocks accounted for 69.64% of the entire market volume and their value represented 52.98% of the market’s value.

Transaction volume on the exchange moved down by -12.98% to close at 358.55 million units exchanged in 3,446 deals as against a decline by -41.21% recorded in the previous trading to close at 412.02 million units exchanged in 3,012 deals.
 

Also, market value appreciated by +15.07 to close at N2.72 billion (US$18.13 million) as against appreciation by +3.92% recorded in the previous trading session to close at N2.36 billion (US$15.76 million).
 

Sectoral Performance (According to New Market Segmentation)

Financial Services sector led the market sectoral performance with 300.01 million units of shares traded in 1,874 trades within the sector, followed by Services sector to come second on the chart with 16.69 million units traded in 156 trades while Consumer Goods sector recorded 14.99 million units in 744 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 49.30% contribution to market turnover, followed by Large Cap stocks with 20.59% while Small Cap stocks stake 30.10% 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 ACCESS, IBTC and WAPCO Plc dominated Medium Cap of 21 traded stocks. Similarly, DANGFLOUR, UBN and GLAXOSMITH led 60 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 loser recorded in the previous session. LIVESTOCKS closed positive by 4.71% after today’s trading session.

The Conglomerates sector closed with two gainers as against one gainer to one loser recorded in the previous session. AGLEVENT closed positive by 4.55% after today’s trading session.

The Construction/Real Estate 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 Consumer Goods closed with three gainers to five losers compared with five gainers to eight losers recorded in previous session. DANGFLOUR moved northwards by +4.95% while NASCON moved southwards by -3.95% after today’s trading session.

The Financial Services sector closed with nine gainers to eight losers as against thirteen gainers to five losers recorded in the previous session. UBA moved up by +4.76% while GOLDENINSURE moved down by -4.76% after today’s trading session.

The Healthcare sector closed with one gainer to one loser compared with two gainers to one loser recorded in previous session. FIDSON closed positive by 4.84 while EVANSMED closed negative by 4.92% after today’s trading session.

The Information & Communication Technology sector closed with no price movement the same market outlook recorded in the previous session. All stocks in the sector closed flat after today’s trading session.

The Industrial Goods sector closed with two gainers to five losers as against three gainers to one loser recorded in previous session. PAINTCOM closed by +4.00% while BAGCO closed by -3.23% after today are trading session.

The Natural Resources sector closed with no price movement the same market posture recorded in previous session. All stocks in the sector closed flat after today’s trading session.

The Oil & Gas sector closed with two gainers to two losers as against three gainers recorded in previous session. OANDO closed by +4.90% while FO closed by -5.00% after today’s trading session.

The Services sector closed with two gainers to two losers as against three gainers to one loser recorded in the previous session. IKEJAHOTEL closed positive by 5.00% while NAHCO closed negative by 0.81% after today’s trading session.

Further analysis on Acquiring Banks showed that the share prices of Access Bank Plc closed positive with +2.96% as ETI Plc closed negative with -0.50% while FCMB Plc also moved in the same direction with -2.41%. Sterling Bank Plc moved northwards by +4.35% while Union Bank Plc 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 20th, 2012; 17.25hrs



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