Daily Stock Market Analysis of 5th May 09
by Ope on June 5th, 2009
filed under Capital Market, Make Money
Investors may have resumed another round of profit taking activity in the capital market, which resulted in the lowering of market indicators.
For three consecutive days, market indices have been on the slide as many stocks were depreciated in value. This trend is quite visible in the banking sub-sector which had been the prime driver of the bullish trend witnessed in the recent past.
The Nigerian Stock Exchange (NSE) All-share index today dropped by 1,345.91 points or 4.56 percent to stand at 28,168.89 points in contrast to 29,514.80 points posted in yesterday’s transaction.
Moreover, market patronage in terms of Volume of shares exchanged by investors rose by 5.29 million ordinary shares or 1.06 percent when compared with the position in the preceding day. In essence, an aggregate of 500.52 million ordinary shares were traded in 10,955 deals today as against a volume of 500.23 million traded in 15,060 deals in yesterday trading.
Turnover by Value was on the downswing today as it closed at N3.61 billion; a N1.08 billion or 23.03 percent dropped as against N4.69 billion worth of stocks traded yesterday.
Market Capitalization of the listed 207 equities dropped by N96.09 billion or 1.43 percent to close the day at N6,621.34 billion in contrast to N6,717.43 billion in yesterday trading.
Table 1
Market Statistics
| Today
05/06/2009 |
Yesterday
04/06/2009 |
%
Change |
|
| NSE All-Share Index | 28,168.89 | 29,514.80 | -4.56 |
| Total Deals | 10,955 | 15,060 | -27.26 |
| Volume Traded (M) | 505.52 | 500.23 | 1.06 |
| Value Traded (N’B) | 3.61 | 4.69 | -23.03 |
| Turn Over Ratio % | 0.07 | 0.07 | 0.00% Change Point |
| Mkt. Capt. (N’B) | 6,621.34 | 6,717.43 | -1.43 |
Chevron Plc lead the top gainers list as the stock added N4.74 or 5.00 percent to its share price to close the market at N99.55 from its opening price of N94.81. Nigeria Breweries Plc came second on the list, having gained N2.30 or 4.60 percent as it opened and closed the day at N50.00 and N52.30 respectively.
Table 2
| Stock | Opening
Price (N:K) |
Closing
Price (N:K) |
Absolute Change
(N:K) |
% rise |
| CHEVRON | 94.81 | 99.55 | +4.74 | 5.00 |
| OANDO | 86.45 | 90.00 | +3.55 | 4.11 |
| GCAPPA | 20.68 | 21.71 | +1.03 | 4.98 |
| FIRSTBANK | 21.65 | 22.48 | +0.83 | 3.83 |
| GUARANTY | 13.18 | 13.75 | +0.57 | 4.32 |
Figure 1
Top 5 Price Gainers
On the losers’ chart, Guinness Nigeria Plc lead the table for the day as the company share price declined by N5.00 or 4.20 percent to close the market at N120.00 per share, from it opening price of N115.00. Followed on the Chart was Nestle Plc that lost N5.00 or 2.75 percent to close the day at N177.00 per share.
Table 3
| Stock | Opening
Price (N:K) |
Closing
Price (N:K) |
Absolute Change
(N:K) |
% drop |
| GUINNESS | 120.00 | 115.00 | -5.00 | 4.17 |
| NESTLE | 182.00 | 177.00 | -5.00 | 2.75 |
| NB | 52.30 | 49.69 | -2.61 | 4.99 |
| JBERGER | 43.85 | 41.66 | -2.19 | 4.99 |
| FLOURMILL | 35.91 | 34.12 | -1.79 | 4.98 |
Figure 2
Top 5 Price Losers
Trading Activities (Sectors/Individuals)
The Banking sector again emerges as the top traded Sector in volume among the 30 listed sectors in the Nigeria Stock Exchange Floor. The sector recorded 295.22 million ordinary shares traded to control largely 58.40 percent of the aggregate volume of shares traded. The Insurance sector, with 83.36 million ordinary shares, traded trailed behind the Banking sector which represented 16.49 percent of the total volume traded.
Figure 3
Access Bank Plc emerges first as the most patronized stock for the day. Investors traded 62.56 million ordinary shares to controlled 21.19 percent of the aggregate volume traded in the Banking sector and 12.38 percent of the entire market. First City Monument Bank Plc (30.15 million ordinary shares) emerged second position on the list.
Table 4
5 Most Traded Stocks by Volume
| Stock | Price
(N: K) |
Volume
(M) |
Value
(N’M) |
| ACCESS | 9.69 | 62.56 | 577.19 |
| FCMB | 8.90 | 30.15 | 251.03 |
| GUARANTY | 13.75 | 23.17 | 301.28 |
| WEMABANK | 3.88 | 22.72 | 88.41 |
| CHAMS | 1.44 | 22.71 | 32.11 |
Figure 4
5 Most traded Stocks by Volume
The Banking sector was the most active in value traded as the stocks worth N2,841.84 million for a 78.78 percent of the aggregate traded value for the day. The Conglomerates sector (N204.29 million) followed, representing 5.66 percent of the overall value traded.
Figure5
Analysis on individual company basis showed that Access Bank Plc lead the highest trading by value at N577.19 million today. The figure controlled 20.31 percent of total traded value in the Banking sector and 16.00 percent of the overall value traded for the whole market. First Bank of Nigeria Plc (N449.89 million) was the second highest.
Table 5
5 Most Traded Stocks by Value
| Stock | Price
(N:K) |
Volume(M) | Value
(N’M) |
| ACCESS | 9.69 | 62.56 | 577.19 |
| FIRSTBANK | 22.48 | 20.29 | 449.89 |
| GUARANTY | 13.75 | 23.17 | 301.28 |
| FCMB | 8.90 | 30.15 | 251.03 |
| ZENITH | 17.46 | 11.17 | 195.06 |
Figure 6
5 Most Traded Stocks by Value
Market Capitalization:
First Bank of Nigeria Plc is the highest capitalized stock at N555.83 billion today. This was followed by Nigeria Breweries Plc with 375.78 billion. United Bank for Africa Plc 324.32 billion, Zenith Bank Plc with 292.36 billion and Dangote Sugar Plc N262.20 billion to maintained the third, fourth and fifth positions respectively.
Table 6
5 Most Capitalized Stocks
| Stock | Mkt. Capt.
(N’B) |
% of Top 5 | % of Total |
| FIRSTBANK | 555.83 | 30.70 | 8.39 |
| NB | 375.78 | 20.76 | 5.68 |
| UBA | 324.32 | 17.91 | 4.90 |
| ZENITHBANK | 292.36 | 16.15 | 4.42 |
| DANGSUGAR | 262.20 | 14.48 | 3.96 |
| Total | 1,810.49 | 100.00 | 27.34 |
| Others | 4,810.85 | 72.66 | |
| Grand Total | 6,621.34 | 100.00 |
Figure 7
5 Most Capitalized Stocks
Monetary Policy Rate: 8.00 %
Business News
JULIUS BERGER NIGERIA PLC: Audited result for the year ended 31st December 2008 shows Turnover of N114,028.62 million as against N79,073.9 million in 2007. Profit after tax stood at N2,508.3 million compared with N1,768.25 million in 2007. The Board of Directors is recommending a dividend of N1.75 per share. The date of closure of register of members is August 4, 2009 while payment date is August 18, 2009. The Annual General Meeting is scheduled to hold at Abuja FCT on Tuesday, August 18, 2009 by 11.00a.m.
DANGOTE SUGAR REFINERY PLC: Audited result for the year ended 31st December 2008 shows Turnover of N80,671.4 million as against N80,649.44 million in 2007. Profit after tax stood at N21,871.05 million compared with N21,478.56 million in 2007. The Board of Directors is recommending a final dividend of N0.35 per share. The date of closure of register of members is June 17, 2009 while payment date is July 3, 2009. The stock price had on August 29, 2008 been adjusted for an interim dividend of N0.85 per share, thus bringing the total gross dividend to N1.20 per share. The 3rd Annual General Meeting is scheduled to hold at the Silver Motel, Yola, Adamawa State on Tuesday, June 30, 2009 by 11.00a.m.
ASHAKA CEMENT PLC: Audited result for the year ended 31st December 2008 shows Turnover of N21,378.2 million as against N16,473.95 million in 2007. Profit after tax stood at N2,070.05 million compared with N1,603.5 million in 2007. The Board of Directors is recommending a dividend of N0.30 per share. The date of closure of register of members is July 13, 2009 while payment date is July 24, 2009. The Annual General Meeting is scheduled to hold on Thursday, July 23, 2009.
Term for the Day
Buck The Trend
When a security or a class of assets sees its market-driven price move in the opposite direction of the broad market or its competition. The move could be in either direction, but generally occurs as a result of good performance in the face of negative broad market performance.
The meaning is often extrapolated out from just asset prices to business and market fluctuations. If a company is recording increased sales while its competitors lose business, that company would be “bucking the trend”.
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