260612 NSE ASI records -0.05% marginal loss; maintains downtrend

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260612 NSE ASI records -0.05% marginal loss; maintains downtrend

Today, equity market records a modest loss to close downtick for the second session in a row as selling activities continue to permeate the main board while market sentiments remained relatively weak.

Nevertheless, the key benchmark indices maintained downtrend as sentiments remained negative, taking hits majorly from Small CAP stock which was particularly driven by GTASSURE while Large CAP stocks also contributed to the outlook recorded today due to continuous selling activities witnessed in Financial Services and Consumer Goods sectors.

In the same vein, the market capitalization of 187 first-tier equities depreciated by N3.20 billion as market sentiments remained negative. 133 equities were traded today as against previous 103 with more activities recorded in Financial Services, Conglomerates, Consumer Goods, Oil & Gas, Services, Industrial Goods, Healthcare, Agriculture, ICT, Construction/Real Estate and Natural Resources sectors.

Today, four out of five NSE sectoral indices closed negative as NSE 30 which basically measures the performance of blue chips maintained downtrend by -0.08%, NSE Insurance closed with -0.81% losses while NSE Oil & Gas also closed negative with -1.10%, NSE banking records +0.20% gain while NSE Food also records -0.17% loss.

At the close of trading session, the NSE All-Share Index dips marginally by -0.05% to close at 21,347.17 as against a decline by -0.18% recorded in the previous session to close at 21,357.22. In the same vein, market capitalization depreciated by N3.20 billion (US$21.36 million) to close at N6.81 trillion (US$45.41billion) as against depreciation by N11.98 billion (US$79.89 million) recorded in preceding session to close at N6.81 trillion (US$45.43billion).

The number of gainers at the close of trading session closed higher at 20 as against 16 recorded in the previous session while decliners also closed higher at twenty-eight (28) as against eighteen (18) losers recorded in the previous trading day – suggesting a negative market breadth.

Today, the following company presented its result

1. Crusader Nigeria Plc in its Audited 2011 result recorded positive turnover growth of +0.4% and negative PAT growth of -40.4%.

As usual, Financial Services sector led the market transaction volume today with 101.61 million units valued at N540.28 million (US$3.60 million) exchanged in 2,267 deals as against 119.11 million units valued at N554.71 million (US3.69 million) exchanged in 1,962 deals recorded in previous session.

The volume recorded in the sector was driven by transaction in the shares of ACCESS, FIDELITYDBK, FIRSTBANK, ETI and STERLNBANK Plc and the total volume of 48.87 million units valued at 298.57 million traded in five stocks accounted for 21.09% of the entire market volume and their value represented 17.37% of the market’s value.

Transaction volume on the exchange moved down by -14.51% to close at 231.69 million units exchanged in 3,958 deals as against an upbeat by +97.27% recorded in the previous trading to close at 271.01 million units exchanged in 3,648 deals.

Also, market value appreciated by +29.08% to close at N1.71 billion (US11.45 million) as against appreciation by +17.37% recorded in the previous trading session to close at N1.33 billion (US$8.87 million).

Sectoral Performance (According to New Market Segmentation)

Financial Services sector led the market sectoral performance with 101.61 million units of shares traded in 2,267 trades within the sector, followed by Conglomerates sector to come second on the chart with 77.65 million units traded in 227 trades while Consumer Goods sector recorded 24.17 million units in 672 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 63.70% contribution to market turnover, followed by Small Cap stocks with 23.14% while Large Cap stocks stake 13.16% 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 23 traded stocks. Similarly, ASHAKACEM, GLAXOSMITH and ETRANZACT led 103 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 recorded in the previous session.

The Conglomerates sector closed with one gainer to two losers as against one gainer recorded in the previous session. Transcorp Plc closed with +0.87% gains after today’s trading session.

The Construction/Real Estate sector closed with one loser as against one loser recorded in the previous session.

The Consumer Goods sector closed with two gainers to four losers as against one gainer to four losers recorded in previous session.

The Financial Services sector closed with nine gainers to eight losers as against five gainers to ten losers recorded in the previous session. Custodian & Allied Insurance Plc moved up by +4.67% while GTAssure Plc moved down by -5.00% loss after today’s trading session.

The Healthcare sector closed with two gainers compared to two gainers recorded in previous session.

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

The Industrial Goods sector closed with two gainers to six losers as against three gainers to two 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 one gainer to two losers as against two gainers recorded in previous session.

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

Further analysis on Acquiring Banks since transaction date showed that the share price of Access Bank Plc has recorded +30.51% gains with FCMB recording -17.95% losses while Union Bank Plc leads the chart with +75.12% gains. However, Sterling Bank Plc recorded -14.96% losses while ETI also closed negative with -6.60% loss recorded. See the tracking table below.

Acquiring Banks