100712 Market CAP sheds N22.56bn to halt five-day rally.
Category: Daily & Weekly Market Updates
Today, Nigerian Stock Market closed in the red zone as the bears re-surfaced to dominate market activities after five-day rally due to profit taking across the main board amid increased volume turnover and Naira votes while market breadth closely relatively flat.
Nevertheless, the key benchmark indices resumed downtrend as sentiments turned negative, taking hits majorly from Large CAP stock which was particularly driven by ZENITHBANK whileMedium CAP stocks also contributed to the outlook recorded today due to selling activities witnessed in Conglomerates, Consumer Goods and Oil & Gas sectors.
In the same vein, the market capitalization of 187 first-tier equities depreciated by N22.56 billion as market sentiments turned pessimistic. 113 equities were traded today as against previous 98 with more activities recorded in Financial Services, Consumer Goods, Industrial Goods, Oil & Gas, Conglomerates, Construction/Real Estate, Agriculture, Services, Healthcare, ICT, Natural Resources and ICT sectors.
Today, three NSE sectoral indices closed negative as NSE 30 which basically measures the performance of blue chips resumed downtrend by -0.54%, NSE Insurance closed with +0.69% gains while NSE Oil & Gas closed positive with +0.03% marginal gains, NSE banking records -0.95% losses while NSE Food also records -0.30% losses.
At the close of trading session, the NSE All-Share Index dips by -0.32% to close at 22,120.47 as against an upbeat by +0.28% recorded in the previous session to close at 22,191.14. In the same vein, market capitalization depreciated by N22.56 billion (US$150.36 million) to close at N7.06 trillion (US$47.06billion) as against appreciation by N25.61 billion (US$170.69 million) recorded in preceding session to close at N7.08 trillion (US$47.21billion).
The number of gainers at the close of trading session closed flat at 22 as against 22 recorded in the previous session while decliners closed higher at twenty-one (21) as against fifteen (15) losers recorded in the previous trading day – suggesting a positive market breadth. As usual, Financial Services sector led the market transaction volume today with 196.97 million units valued at N1.12 billion (US$7.15 million) exchanged in 2,232 deals as against 83.77 million units valued at N664.06 million (US4.42 million) exchanged in 1,645 deals recorded in previous session.
The volume recorded in the sector was driven by transaction in the shares of AIICO, ACCESS, UBA, FIRSTBANK and ZENITHBANK Plc and the total volume of 138.53 million units valued at N801.77 million traded in five stocks accounted for 59.61% of the entire market volume and their value represented 43.63% of the market’s value.
Transaction volume on the exchange moved up by +69.88% to close at 232.40 million units exchanged in 3,794 deals as against a decline by -15.33% recorded in the previous trading to close at 136.80 million units exchanged in 2,954 deals.
Also, market value appreciated by +10.20% to close at N1.83 billion (US12.24 million) as against appreciation by +12.34% recorded in the previous trading session to close at N1.66 billion (US$11.11 million).
Sectoral Performance (According to New Market Segmentation)
Financial Services sector led the market sectoral performance with 196.97 million units of shares traded in 2,232 trades within the sector, followed by Consumer Goodssector to come second on the chart with 9.10 million units traded in 671 trades while Conglomerates sector recorded 8.70 million units in 154 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 43.47% contribution to market turnover, followed by Small Cap stocks with 34.29% while Large Cap stocks stake 22.25% 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, ACCESS and IBTC dominated Medium Cap of 23 traded stocks. Similarly, ASHAKACEM, GLAXOSMITH and UNITYBNK led 83 traded stocks in the Small Cap category in that order. See table below
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 negative with -1.00% loss after today’s trading session.
The Construction/Real Estate sector closed with one gainer as against one loser recorded in the previous session.
The Consumer Goods sector closed with five losers as against five gainers to three losers recorded in previous session.
The Financial Services sector closed with nine gainers to eight losers as against seven gainers to seven losers recorded in the previous session. Fidelity Bank Plc moved up by +5.00% while FCMB Plc moved down by -4.48% loss after today’s trading session.
The Healthcare sector closed with two gainers to one loser 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 three gainers to one loser as against three gainers to one loser 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 one loser recorded in previous session.
The Services sector closed with three gainers to two losers as against two gainers to 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 +53.54% gains with FCMB recording -17.95% losses while Union Bank Plc leads the chart with +95.69% gains. However, Sterling Bank Plc recorded -5.51% losses while ETI also closed negative with -12.00% loss recorded. See the tracking table below.