030712 NSE ASI inches up by +0.55%; UBN declares N94.8bn loss in 2011 Audited Result.

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030712 NSE ASI inches up by +0.55%; UBN declares N94.8bn loss in 2011 Audited Result.

Today, equity market resumed northwards movement as renewed bargain activities permeated the bourse amid slightly low market turnover while market sentiments remained weak due to continuous volatile sessions witnessed in recent sessions.

Nevertheless, the key benchmark indices resumed uptrend as sentiments turned green, taking supports majorly from Large CAP stock which was particularly driven by GUARANTY while Medium CAP stocks also contributed to the outlook recorded today due to renewed buying activities witnessed in Consumer Goods, Financial Services and Oil & Gas sectors.

In the same vein, the market capitalization of 187 first-tier equities appreciated by N37.94 billion as market sentiments turned positive. 119 equities were traded today as against previous 117 with more activities recorded in Financial Services, ICT, Industrial Goods, Conglomerates, Consumer Goods, Oil & Gas, Services, Healthcare, Agriculture, Natural Resources and Construction/Real Estate sectors.

Today, four out of five NSE sectoral indices closed positive as NSE 30 which basically measures the performance of blue chips maintained uptrend by +0.64%, NSE Insurance closed with -0.73% losses while NSE Oil & Gas closed positive with +1.22%, NSE banking records +1.47% gains while NSE Food also records -0.56% gains.

At the close of trading session, the NSE All-Share Index inches up by +0.55% to close at 21,690.54 as against a decline by -0.13% recorded in the previous session to close at 21,571.67. In the same vein, market capitalization appreciated by N37.94 billion (US$252.91 million) to close at N6.92 trillion (US$46.14billion) as against depreciation by N8.90 billion (US$59.32 million) recorded in preceding session to close at N6.88 trillion (US$45.89billion).

The number of gainers at the close of trading session closed higher at 27 as against 22 recorded in the previous session while decliners also 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 141.71 million units valued at N875.06 million (US$5.83 million) exchanged in 2,196 deals as against 153.03 million units valued at N885.61 billion (US5.90 million) exchanged in 2,226 deals recorded in previous session.

The volume recorded in the sector was driven by transaction in the shares of DIAMONBNK, FIRSTBANK, GUARANTY, ETI and UBA Plc and the total volume of 80.23 million units valued at N657.58 million traded in five stocks accounted for 38.96% of the entire market volume and their value represented 41.11% of the market’s value.

Transaction volume on the exchange moved down by -1.84% to close at 205.95 million units exchanged in 3,792 deals as against an upbeat by +2.46% recorded in the previous trading to close at 209.81 million units exchanged in 3,497 deals.

Also, market value depreciated by -2.14% to close at N1.59 billion (US10.66 million) as against appreciation by +28.23% recorded in the previous trading session to close at N1.63 billion (US$10.89 million).

Sectoral Performance (According to New Market Segmentation)

Financial Services sector led the market sectoral performance with 141.71 million units of shares traded in 2,196 trades within the sector, followed by ICT sector to come second on the chart with 18.48 million units traded in 14 trades while Industrial Goods sector recorded 10.59 million units in 172 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 Small Cap stocks according to new market segmentation topped today's market activity with 39.09% contribution to market turnover, followed by Medium Cap stocks with 38.36% while Large Cap stocks stake 22.55% 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 WAPCO dominated Medium Cap of 23 traded stocks. Similarly, ASHAKACEM, HONYFLOUR and UNITYBNK led 88 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 two losers as against two losers recorded in the previous session. Transcorp Plc closed with -4.85% price declines after today’s trading session.

The Construction/Real Estate sector closed with no price movement as against no price movement recorded in the previous session.

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

The Financial Services sector closed with nine gainers to seven losers as against twelve gainers to two losers recorded in the previous session. UBA Plc moved up by +4.85% while Wapic Insurance Plc moved down by -4.76% loss after today’s trading session.

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

The Services sector closed with four gainers to two losers as against 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 +37.37% gains with FCMB recording -15.38% losses while Union Bank Plc leads the chart with +78.95% gains. However, Sterling Bank Plc recorded -6.30% losses while ETI also closed negative with -10.63% loss recorded. See the tracking table below.

Acquiring Banks