310712 NSE ASI dips by -1.03% as DANGCEM records -5.00% loss.

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310712 NSE ASI dips by -1.03% as DANGCEM records -5.00% loss.

Equity Market resumed southwards movement to close negative due to renewed sell pressure witnessed on the bourse amid flat market breadth while the -5.00% loss witnessed in the share price of Dangote Cement Plc, market leader by capitalisation, significantly contributed to the lifting of the key market indicator back to the red zone.

More so, market YTD performance currently stands at +11.24% while market volatility remained relatively high.

Nevertheless, the key benchmark indices resumed downtrend as sentiments turned negative, taking hits majorly from Large CAP stocks which was particularly driven by DANGCEM while Small CAP stocks also contributed to the outlook recorded today due to renewed selling activities witnessed in Conglomerates, Construction/Real Estate, Healthcare, Oil & Gas and Services sectors.

In the same vein, the market capitalization of 187 first-tier equities depreciated by N76.65 billion as market sentiments turned negative. 105 equities were traded today as against previous 92 with more activities recorded in Financial Services, Healthcare, Consumer Goods, Conglomerates, Industrial Goods, Oil & Gas, Services, Agriculture, Construction/Real Estate and ICT sectors.

Today, three NSE sectoral indices closed negative as NSE 30 which basically measures the performance of blue chips retraced by -0.65%, NSE Insurance closed with +0.18% gain while NSE Oil & Gas closed negative with -0.47% loss, NSE banking records +0.04% gain while NSE Food also records +0.73% gain. The New NSE LII closed positive with +1.00% losses.

At the close of trading session, the NSE All-Share Index dipped by -1.03% to close at 23,061.38 as against an upbeat by +0.04% recorded in the previous session to close at 23,302.22. In the same vein, market capitalization depreciated by N76.65 billion (US$510.84 million) to close at N7.34 trillion (US$48.91billion) as against appreciation by N2.99 billion (US$19.97 million) recorded in preceding session to close at N7.41 trillion (US$49.42billion).

The number of gainers at the close of trading session closed higher at 23 as against 18 recorded in the previous session while decliners closed flat at twenty-four (24) as against twenty-four (24) losers recorded in the previous trading day – suggesting a negative market breadth.

Today, the following companies presented their results

1. Okomu Oil Palm Plc in its Q2 ’12 result recorded positive turnover growth of +6.5% and negative PAT growth of -14.8%.

2. Lafarge Wapco Plc in its Q2 ’12 result recorded positive interest income growth of +57.1% and positive PAT growth of +175.7%.

3. PZ Cussons Plc in its Audited result recorded positive turnover growth of +9.5% and negative PAT growth of -55.4%.

4. Livestock feeds Plc in its Q2 ‘12 result recorded positive turnover growth of +87.4% and positive PAT growth of +132.4%.

As usual, Financial services sector led the market transaction volume today with 260.71 million units valued at N2.76 billion (US$18.45 million) exchanged in 2,504 deals as against 114.88 million units valued at N812.20 million (US4.22million) exchanged in 2,181 deals recorded in previous session.

The volume recorded in the sector was driven by transaction in the shares of ZENITHBANK, GUARANTY, UBA, FIRSTBANK and FCMB Plc and the total volume of 205.72 million units valued at N2.61 billion traded in five stocks accounted for 50.33% of the entire market volume and their value represented 70.76% of the market’s value.

Transaction volume on the exchange moved up by +173.21% to close at 408.78 million units exchanged in 4,291 deals as against an upbeat by +2.30% recorded in the previous trading to close at 149.62 million units exchanged in 3,657 deals.

Also, market value appreciated by +181.98% to close at N3.69 billion (US24.63 million) as against depreciation by -0.34% recorded in the previous trading session to close at N1.31 billion (US$8.73 million).

Sectoral Performance (According to New Market Segmentation)
Financial Services sector led the market sectoral performance with 260.71 million units of shares traded in 2504 trades within the sector, followed by Healthcare sector to come second on the chart with 110.09 million units traded in 93 trades while Consumer Goods sector recorded 12.39 million units in 755 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 42.27% contribution to market turnover, followed by Small Cap stocks with 36.19% while Medium Cap stocks stake 21.54% 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 WAPCO, UBA and UNILEVER dominated Medium Cap of 24 traded stocks. Similarly, ASHAKACEM, CONOIL and UNITYBNK led 74 traded stocks in the Small Cap category in that order. See table below

SECTORAL REVIEW

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

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

The Financial Services sector closed with eight gainers to five losers as against four gainers to nine losers recorded in the previous session. Union Bank Plc moved up by +4.52% while Royal Exchange Plc moved down by -3.45% loss after today’s trading session.

The Healthcare sector closed with one gainer to two losers compared to one gainer to two losers recorded in previous session.

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

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

The Services sector closed with three 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 +47.47% gains with FCMB recording -19.74% losses while Union Bank Plc leads the chart with +110.05% gains. However, Sterling Bank Plc recorded -9.45% losses while ETI also closed negative with -12.08% loss recorded. See the tracking table below.

Acquiring Banks