130812 Equity Market records +0.15% gains amid weak sentiments
Category: Daily & Weekly Market Updates
Today, equity market sustained uptrend for the third session in a row to open the first trading day of the week positive amid slightly increased volume turnover and Naira votes while market breadth closed depressed as against previous outlook recorded.
More so, market YTD performance currently stands +12.27 while market sentiments remained relatively weak suggesting a reversal anytime soon.
Nevertheless, the key benchmark indices sustained uptrend as sentiments remained positive, taking supports majorly from Large CAP stocks which was particularly driven by NB while Small CAP stocks also contributed to the outlook recorded today due to continuous buying activities witnessed in Consumer Goods, Financial Services, Healthcare and Industrial Goods sectors.
In the same vein, the market capitalization of 187 first-tier equities appreciated by N10.99 billion as market sentiments remained positive. 96 equities were traded today as against previous 102 with more activities recorded in Financial Services, Conglomerates,Industrial Goods, Consumer Goods,Oil & Gas, Agriculture, Healthcare, Services 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 +0.14%, NSE Insurance closed with +0.51% gain while NSE Oil & Gas also closed with -0.02%, NSE banking records +0.21% gains while NSE Food also records +0.24% gain. The New NSE LII closed positive with +0.004% gains.
At the close of trading session, the NSE All-Share Index inches up by +0.15% to close at 23,273.56 as against an upbeat by +0.26% recorded in the previous session to close at 23,239.03. In the same vein, market capitalization appreciated by N10.99 billion (US$73.25 million) to close at N7.40 trillion (US$49.36billion) as against appreciation by N19.14 billion (US$127.61 million) recorded in preceding session to close at N7.39 trillion (US$49.29billion).
The number of gainers at the close of trading session closed lower at 20 as against 23 recorded in the previous session while decliners also closed lower at twenty-two (22) as against twenty-three (23) losers recorded in the previous trading day – suggesting a negative market breadth.
Today, the following companies presented their results
1. Multiverse Resources Plc in its Q2 ’12 result recorded positive turnover growth of +0.2% and positive PAT growth of +4.7%.
2. May & Baker Plc in its Q2 ’12 result recorded positive interest income growth of +4.0% and negative PAT growth of -66.9%.
As usual, Financial services sector led the market transaction volume today with 163.90 million units valued at N1.25 billion (US$8.38 million) exchanged in 1,988 deals as against 149.55 million units valued at N1.10 billion (US7.38million) exchanged in 2,007 deals recorded in previous session.
The volume recorded in the sector was driven by transaction in the shares of FIRSTBANK, ZENITHBANK, GUARANTY, UBA and ACCESS Plc and the total volume of 96.96 million units valued at N1.13 billion traded in five stocks accounted for 46.23% of the entire market volume and their value represented 70.58% of the market’s value.
Transaction volume on the exchange moved up by +8.85% to close at 209.74 million units exchanged in 3,306 deals as against a decline by -55.14% recorded in the previous trading to close at 192.69 million units exchanged in 3,406 deals.
Also, market value appreciated by +5.80% to close at N1.61 billion (US10.72 million) as against appreciation by +4.32% recorded in the previous trading session to close at N1.52 billion (US$10.14 million).
Sectoral Performance (According to New Market Segmentation)
Financial Services sector led the market sectoral performance with 163.90 million units of shares traded in 1988 trades within the sector, followed by Conglomerates sector to come second on the chart with 10.24 million units traded in 140 trades while Industrial Goods sector recorded 9.72 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 41.27% contribution to market turnover, followed by Large Cap stocks with 31.87% while Small Cap stocks stake 26.86% 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, GTASSURE and UNITYBNK led 65 traded stocks in the Small Cap category in that order. See table below
The Agriculture sector closed with one loser as against two gainers recorded in the previous session.
The Conglomerates sector closed with two losers as against two gainers to one loser recorded in the previous session.
The Construction/Real Estate sector closed with no price movement as against one gainer recorded in the previous session.
The Consumer Goods sector closed with five gainers to five losers as against eight gainers to four losers recorded in previous session.
The Financial Services sector closed with seven gainers to six losers as against four gainers to ten losers recorded in the previous session. Union Bank Plc moved up by +4.92% while Custodian Insurance Plc moved down by -4.65% loss after today’s trading session.
The Healthcare sector closed with three gainers to two losers compared to four gainers 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 one gainer 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 one gainer to two losers as against one gainer to two losers recorded in previous session.
The Services sector closed with one gainer to three losers as against one gainer 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 +51.50% gains with FCMB recording -20.77% losseswhile Union Bank Plc leads the chart with +144.98% gains. However, Sterling Bank Plc recorded -12.60% losses while ETI also closed negative with -12.60% loss recorded. See the tracking table below.