020812 All-Share Index inches up by +0.68%; maintains uptrend

Category: Daily & Weekly Market Updates

Read (1884)

020812 All-Share Index inches up by +0.68%; maintains uptrend

Trading activities on the floor of the Nigerian Stock Exchange closed northwards for the second consecutive session as continuous bargain activities permeate the bourse amid improved breadth while the share price of Dangote Cement Plc also maintain positive outlook as recorded in the previous session.

Nevertheless, the key benchmark indices maintained uptrend as sentiments remained positive, taking supports majorly from Large CAP stocks which was particularly driven by FIRSTBANK while Medium CAP stocks also contributed to the outlook recorded today due to continuous buying activities witnessed in Conglomerates, Consumer Goods, Financial Services and Oil & Gas sectors.

In the same vein, the market capitalization of 187 first-tier equities appreciated by N50.75 billion as market sentiments remained positive. 109 equities were traded today as against previous 99 with more activities recorded in Financial Services, Consumer Goods, ICT, Oil & Gas, Industrial Goods, Conglomerates, Services, HHHealthcare, Agriculture and Construction/Real Estate sectors.

Today, all NSE sectoral indices closed positive as NSE 30 which basically measures the performance of blue chips maintained uptrend by +0.83%, NSE Insurance closed with +0.53% gain while NSE Oil & Gas also closed with +0.75%, NSE banking records +1.01% gains while NSE Food also records +1.12% gain. The New NSE LII closed positive with +0.26% gains.

At the close of trading session, the NSE All-Share Index inches up by +0.68% to close at 23,488.79 as against an upbeat by +1.16% recorded in the previous session to close at 23,329.34. In the same vein, market capitalization appreciated by N50.75 billion (US$338.23 million) to close at N7.47 trillion (US$49.82billion) as against appreciation by N85.28 billion (US$568.38 million) recorded in preceding session to close at N7.42 trillion (US$49.48billion).

The number of gainers at the close of trading session closed higher at 28 as against 21 recorded in the previous session while decliners closed lower at ten (10) as against twenty-four (24) losers recorded in the previous trading day – suggesting a positive market breadth.

Today, the following companies presented their results

1. UAC Property Devt Co. Plc in its Q2 ’12 result recorded positive turnover growth of +46.9% and positive PAT growth of +38.4%.

2. Dangote Sugar Refinery Plc in its Q2 ’12 result recorded positive interest income growth of +10.3% and positive PAT growth of +91%.

3. A.G Leventis Plc in its Q2 ‘12 result recorded negative turnover growth of -9.8% and positive PAT growth of +27.7%.

4. UAC of Nig Plc in its Q2 ‘12 result recorded positive turnover growth of +16.1% and positive PAT growth of +17.3%.

5. Beta Glass Plc in its Q2 ‘12 result recorded negative turnover growth of -16.4% and negative PAT growth of -43.6%.

6. Presco Plc in its Q2 ‘12 result recorded positive turnover growth of +24.3% and positive PAT growth of +5.5%.

7. Nigerian Ropes Plc in its Q2 ‘12 result recorded negative turnover growth of -5.4% and negative PAT growth of -450%.

8. Law Union & Rock Plc in its Audited result recorded positive turnover growth of +4.3% and negative PAT growth of -62.2%.

9. Tantalizer Plc in its Q2 ‘12 result recorded negative turnover growth of -4.6% and negative PAT growth of -576%.

10. Regency Alliance Insurance Plc in its Q2 ‘12 result recorded positive turnover growth of +16.5% and negative PAT growth of -11.9%.

As usual, Financial services sector led the market transaction volume today with 91.32 million units valued at N612.29 million (US$4.08 million) exchanged in 1,046 deals as against 351.60 million units valued at N2.32 billion (US15.47million) exchanged in 2,359 deals recorded in previous session.

The volume recorded in the sector was driven by transaction in the shares of STERLNBANK, ZENITHBANK, DIAMONDBNK, GUARANTY and UBA Plc and the total volume of 64.15 million units valued at N462.98 million traded in five stocks accounted for 58.43% of the entire market volume and their value represented 44.55% of the market’s value.

Transaction volume on the exchange moved down by -77.76% to close at 109.80 million units exchanged in 1,856 deals as against an upbeat by +20.81% recorded in the previous trading to close at 493.84 million units exchanged in 3,990 deals.

Also, market value depreciated by -62.95% to close at N1.03 billion (US6.92 million) as against depreciation by -24.12% recorded in the previous trading session to close at N2.80 billion (US$18.69 million).

Sectoral Performance (According to New Market Segmentation)

Financial Services sector led the market sectoral performance with 91.32 million units of shares traded in 1046 trades within the sector, followed by Consumer Goods sector to come second on the chart with 6.32 million units traded in 352 trades while ICT sector recorded 2.95 million units in 3 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 38.29% contribution to market turnover, followed by Small Cap stocks with 33.15% while Large Cap stocks stake 28.57% 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 ACCESS, UBA and UNILEVER dominated Medium Cap of 24 traded stocks. Similarly, ASHAKACEM, CONOIL and UNITYBNK led 78 traded stocks in the Small Cap category in that order. See table below

SECTORAL REVIEW

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

The Conglomerates sector closed with one gainer as against one gainer to two losers recorded in the previous session.

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

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

The Financial Services sector closed with eleven gainers to five losers as against seven gainers to nine losers recorded in the previous session. Royal Exchange Plc moved up by +5.00% while Niger Insurance Plc moved down by -3.77% loss after today’s trading session.

The Healthcare sector closed with two gainers compared to one gainer to one loser 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 one loser as against five gainers to four 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 two gainers to one loser as against one loser recorded in previous session.

The Services sector closed with three losers as against one gainer to three 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 +49.09% gains with FCMB recording -17.95% losses while Union Bank Plc leads the chart with +100.96% gains. However, Sterling Bank Plc recorded -11.81% losses while ETI also closed negative with -11.74% loss recorded. See the tracking table below.

Acquiring Banks