270612 All-Share Index resumes uptrend; inches up by +1.06%

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270612 All-Share Index resumes uptrend; inches up by +1.06%

Trading activities on the Nigerian bourse closed with a positive outlook to erase previous losses due to renewed bargain activities witnessed during today’s session amid increased market turnover while the positive transaction observed in the share price of Dangote Cement Plc also contributed to the optimistic stance.

Today, it was observed that UBN recorded an astronomical volume growth of 511000.44% with price appreciation of +4.92%, signifying institutional position as the stock traded 4.32bn units, representing 25.54% of the bank's outstanding shares, valued at N15.83billion.

Nevertheless, the key benchmark indices resumed uptrend as sentiments turned green, taking supports majorly from Large CAP stock which was particularly driven by NESTLE.

In the same vein, the market capitalization of 187 first-tier equities appreciated by N72.36 billion as market sentiments turned positive. 104 equities were traded today as against previous 133 with more activities recorded in Financial Services, Conglomerates, Consumer Goods, Oil & Gas, Industrial Goods, Healthcare, Services, Agriculture, Construction/Real Estate, Natural Resources and ICT sectors.

Today, two out of five NSE sectoral indices closed positive as NSE 30 which basically measures the performance of blue chips resumed uptrend by +0.97%, NSE Insurance closed with -0.28% losses while NSE Oil & Gas also closed negative with -1.05%, NSE banking records -0.25% loss while NSE Food also records +2.16% gains.

At the close of trading session, the NSE All-Share Index inches up by +1.06% to close at 21,573.84 as against a decline by -0.05% recorded in the previous session to close at 21,347.17. In the same vein, market capitalization depreciated by N72.36 billion (US$482.24 million) to close at N6.88 trillion (US$45.89billion) as against depreciation by N3.20 billion (US$21.36 million) recorded in preceding session to close at N6.81 trillion (US$45.41billion).

The number of gainers at the close of trading session closed higher at 21 as against 20 recorded in the previous session while decliners closed lower at twenty-two (22) as against twenty-eight (28) losers recorded in the previous trading day – suggesting a negative market breadth.

As usual, Financial Services sector led the market transaction volume today with 4.43 billion units valued at N16.38 billion (US$109.18 million) exchanged in 1,845 deals as against 101.61 million units valued at N540.28 million (US3.60 million) exchanged in 2,267 deals recorded in previous session.

The volume recorded in the sector was driven by transaction in the shares of UBN, WAPIC, CUSTODYINS, FIRSTBANK and DIAMONDBNK Plc and the total volume of 4.38 billion units valued at N16.00 billion traded in five stocks accounted for 97.08% of the entire market volume and their value represented 93.42% of the market’s value.

Transaction volume on the exchange moved up by +1847.83% to close at 4.51 billion units exchanged in 3,263 deals as against a decline by -14.51% recorded in the previous trading to close at 231.69 million units exchanged in 3,958 deals.

Also, market value appreciated by +896.71% to close at N17.1 billion (US114.15 million) as against appreciation by +29.08% recorded in the previous trading session to close at N1.71 billion (US$11.45 million).

Sectoral Performance (According to New Market Segmentation)
Financial Services sector led the market sectoral performance with 4.43 billion units of shares traded in 1,845 trades within the sector, followed by Conglomerates sector to come second on the chart with 50.18 million units traded in 179 trades while Consumer Goods sector recorded 9.13 million units in 565 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 97.94% contribution to market turnover, followed by Small Cap stocks with 1.39% while Large Cap stocks stake 0.67% 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, UNILEVER and WAPCO dominated Medium Cap of 23 traded stocks. Similarly, ASHAKACEM, GLAXOSMITH and UNITYBNK led 74 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 no price movement as against one gainer to two losers recorded in the previous session. Transcorp Plc closed flat after today’s trading session.

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

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

The Financial Services sector closed with nine gainers to nine losers as against nine gainers to eight losers recorded in the previous session. WAPIC Insurance Plc moved up by +5.00% while Continental Re-insurance Plc moved down by -4.00% loss after today’s trading session.

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

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

Further analysis on Acquiring Banks since transaction date showed that the share price of Access Bank Plc has recorded +28.48% gains with FCMB recording -16.67% losses while Union Bank Plc leads the chart with +83.73% gains. However, Sterling Bank Plc recorded -11.02% losses while ETI also closed negative with -5.74% loss recorded. See the tracking table below.

Acquiring Banks