170712 ASI closes above 23,000 psychological lines; inches up by +0.27%
Category: Daily & Weekly Market Updates
Trading activities on the Nigerian bourse sustained the rally for the fifth day in succession as bargain hunting outweighed sell pressure amid increased volume turnover and Naira votes while NSE ASI closed above 23,000 psychological lines.
Furthermore, market YTD performance currently stands at +11.14% while market sentiments closed relatively weak after today’s trading activities.
Nevertheless, the key benchmark indices sustained uptrend as sentiments remained positive, taking supports majorly from Large CAP stocks which was particularly driven by UBA while Medium CAP stocks also contributed to the outlook recorded today due to continuous bargain activities witnessed in Conglomerates, Consumer Goods and Oil & Gas sectors.
In the same vein, the market capitalization of 187 first-tier equities appreciated by N19.51 billion as market sentiments remained optimistic. 102 equities were traded today as against previous 96 with more activities recorded in Financial Services, Conglomerates, Industrial Goods, Consumer Goods,Oil & Gas,Healthcare, Services,Construction/Real Estate, Agriculture, ICT and Natural Resources sectors.
Today, four NSE sectoral indices closed positive as NSE 30 which basically measures the performance of blue chips maintained uptrend by +0.47%, NSE Insurance closed with -0.42% losses while NSE Oil & Gas also closed positive with +0.14% gains, NSE banking records +0.72% gains while NSE Food also records +0.39% gains.
At the close of trading session, the NSE All-Share Index inches up by +0.27% to close at 23,039.27 as against an upbeat by +1.04% recorded in the previous session to close at 22,978.14. In the same vein, market capitalization appreciated by N19.51 billion (US$130.06 million) to close at N7.35 trillion (US$49.01billion) as against appreciation by N75.68 billion (US$504.38 million) recorded in preceding session to close at N7.33 trillion (US$48.88billion).
The number of gainers at the close of trading session closed lower at 26 as against 33 recorded in the previous session while decliners closed higher at sixteen (16) as against thirteen (13) losers recorded in the previous trading day – suggesting a positive market breadth.
Today, the following companies presented their results
1. Transcorp Plc in its Q2 ’12 result recorded positive turnover growth of -36.8% and positive PAT growth of +71.8%.
2. Tripple Gee Plc in its Audited ’12 result recorded positive turnover growth of +14.4% and positive PAT growth of +112.7%.
As usual, Financial Services sector led the market transaction volume today with 316.82 million units valued at N2.11 billion (US$14.08 million) exchanged in 2,902 deals as against 215.79 million units valued at N792.19 million (US5.27 million) exchanged in 2,414 deals recorded in previous session.
The volume recorded in the sector was driven by transaction in the shares of UBA, GUARANTY, ZENITHBANK, DIAMONDBNK and FIRSTBANK Plc and the total volume of 267.25 million units valued at N1.93 billion traded in five stocks accounted for 64.54% of the entire market volume and their value represented 62.88% of the market’s value.
Transaction volume on the exchange moved up by +53.10% to close at 414.10 million units exchanged in 5,375 deals as against a decline by -38.97% recorded in the previous trading to close at 270.48 million units exchanged in 4,129 deals.
Also, market value appreciated by +128.10% to close at N3.07 billion (US20.49 million) as against depreciation by -6.28% recorded in the previous trading session to close at N1.34 billion (US$8.98 million).
Sectoral Performance (According to New Market Segmentation)
Financial Services sector led the market sectoral performance with 316.82 million units of shares traded in 2,902 trades within the sector, followed by Conglomerates Goods sector to come second on the chart with 46.19 million units traded in 223 trades while Industrial Goods sector recorded 15.11 million units in 671 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 Large Cap stocks according to new market segmentation topped today's market activity with 60.27% contribution to market turnover, followed by Medium Cap stocks with 29.14% while Small Cap stocks stake 10.59% to come last on the chart.
Among the Large cap stocks, DANGCEM, NB and GUARANTY Plc topped the 8 traded stocks in that class while IBTC, ACCESS and WAPCO dominated Medium Cap of 23 traded stocks. Similarly, ASHAKACEM, HONYFLOUR and UNITYBNK led 71 traded stocks in the Small Cap category in that order. See table below
The Agriculture sector closed with no price movement as against two losers recorded in the previous session.
The Conglomerates sector closed with one gainer as against one gainer recorded in the previous session. Transcorp Plc closed positive with +4.55% gains after today’s trading session.
The Construction/Real Estate sector closed with two losers as against one gainer recorded in the previous session.
The Consumer Goods sector closed with six gainers to two losers as against five gainers to two losers recorded in previous session.
The Financial Services sector closed with nine gainers to seven losers as against ten gainers to six losers recorded in the previous session. UBA Plc moved up by +4.86% while Access Bank Plc moved down by -4.64% loss after today’s trading session.
The Healthcare sector closed with one loser compared to two gainers to one loser recorded in previous session.
The ICT sector closed with no price movement compared with no price movement recorded in previous session.
The Industrial Goods sector closed with three gainers to two losers as against one gainer 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 four gainers as against four gainers recorded in previous session.
The Services sector closed with three gainers to two losers as against four gainers 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 -12.17% losseswhile Union Bank Plc leads the chart with +102.87% gains. However, Sterling Bank Plc recorded -1.57% losses while ETI also closed negative with -12.17% loss recorded. See the tracking table below.