NSE Market Analysis 25-06-09
by Ope on June 25th, 2009
filed under Capital Market, Make Money
There are strong indications that Nigerian Banks may have directed their subsidiaries to start offloading their massive holdings in quoted stocks as a way of mitigating their exposures to the stock market and beef up assets ahead of the proposed audit by the Central Bank of Nigeria (CBN).
A review of trading summary today of the Nigerian Stock Exchange (NSE) showed that stocks are falling victims to the uncertainty that has been created by recent statement credited to the Central Bank of Nigeria (CBN) Governor; Sanusi Lamido Sanusi.
The Nigerian Stock Exchange (NSE) all share index which is the major barometer for the performance of the market, closed at 26,116.87 down from the opening value of 26,927.65
Also the Nigerian Stock Exchange (NSE) capitalization which measures the value of equities closed at N5,956.14 billion indicating a fall of N184.90 billion today.
Market patronage in terms of Volume of shares exchanged by investors dropped by 408.17 million ordinary shares or 63.94 percent when compared with the position in the last trading day. In essence, an aggregate of 230.21 million ordinary shares were traded in 4,463 deals today as against a volume of 638.38 million traded in 6,374 deals in the previous transaction.
Turnover by Value like volume was also on the downswing as it closed at N2.61 billion; N1.80 billion or 40.82 percent drop as against N4.41 billion worth of stocks traded last week.
Table 1
Market Statistics
|
|
Today 25/06/2009 |
Previous day 24/06/2009 |
% Change |
|
NSE All-Share Index |
26,116.87 |
26,927.65 |
-3.01 |
|
Total Deals |
4,463 |
6,374 |
-29.98 |
|
Volume Traded (M) |
230.21 |
638.38 |
-63.94 |
|
Value Traded (N’B) |
2.61 |
4.41 |
-40.82 |
|
Turn Over Ratio % |
0.04 |
0.10 |
-60.00% Change Point |
|
Mkt. Capt. (N’B) |
5,956.14 |
6,141.04 |
-3.01 |
Nestle Plc lead the top gainers list as the stock added N4.05 or 2.19 percent to its share price to close the market at N189.00 from its opening price of N184.95. Nigeria Breweries Plc came second on the list, having gained N2.40 or 4.98 percent as it opened and closed the day at N48.15 and N50.55 respectively.
Table 2
|
Stock |
Opening Price (N:K) |
Closing Price (N:K) |
Absolute Change (N:K) |
% rise |
|
NESTLE |
184.95 |
189.00 |
+4.05 |
2.19 |
|
NB |
48.15 |
50.55 |
+2.40 |
4.98 |
|
GUINNESS |
127.01 |
128.00 |
+0.99 |
0.78 |
|
WAPCO |
23.75 |
24.49 |
+0.74 |
3.12 |
|
BERGER |
5.57 |
5.84 |
+0.27 |
4.85 |
Figure 1
Top 5 Price Gainers
2
On the losers’ chart, Oando Plc lead the table for the day as the company share price declined by N4.74 or 5.00 percent to close the market at N90.15 per share, from it opening price of N94.89. Followed on the Chart was UACN Plc that lost N1.90 or 5.00 percent to close the day at N36.10 per share.
Table 3
|
Stock |
Opening Price (N:K) |
Closing Price (N:K) |
Absolute Change (N:K) |
% drop |
|
OANDO |
94.89 |
90.15 |
-4.74 |
5.00 |
|
UACN |
38.00 |
36.10 |
-1.90 |
5.00 |
|
7UP |
36.10 |
34.30 |
-1.80 |
4.99 |
|
BCC |
43.05 |
41.50 |
-1.55 |
3.60 |
|
FLOURMILL |
25.32 |
24.06 |
-1.26 |
4.98 |
Figure 2
Top 5 Price Losers
Trading Activities (Sectors/Individuals)
The Bank sector emerges as the top traded Sector today in volume among the 30 listed sectors in the Nigeria Stock Exchange Floor. The sector recorded 129.81 million ordinary shares traded to control 56.39 percent of the aggregate volume of shares traded. The Insurance sector, with 35.32 million ordinary shares, traded trailed behind the Insurance sector which represented 15.34 percent of the total volume traded.
Figure 3
United Bank for Africa Plc emerges first as the most patronized stock for the day. Investors traded 50.23 million ordinary shares to controlled 38.69 percent of the aggregate volume traded in the Banking sector and 21.82 percent of the entire market. Guaranty Trust Bank Plc (19.11 million ordinary shares) emerged second position on the list.
Table 4
5 Most Traded Stocks by Volume
|
Stock |
Price (N: K) |
Volume (M) |
|
UBA |
12.65 |
50.23 |
|
GUARANTY |
12.12 |
19.11 |
|
UBN |
15.49 |
10.97 |
|
NB |
50.55 |
10.61 |
|
DANGSUGAR |
15.54 |
9.89 |
Figure 4
5 Most traded Stocks by Volume
The Banking sector was the most active in value traded as the stocks worth N1,482.31 million for a 56.80 percent of the aggregate traded value for the day. The Breweries sector (N546.49 million) followed, representing 20.94 percent of the overall value traded.
Figure5
Analysis on individual company basis showed that United Bank for Africa Plc led the highest trading by value at N642.54 million today. The figure controlled 43.34 percent of total traded value in the Banking sector and 24.62 percent of the overall value traded for the whole market. Nigeria Breweries Plc (N514.64 million) was the second highest.
Table 5
5 Most Traded Stocks by Value
|
Stock |
Price (N:K) |
Value (N’M) |
|
UBA |
12.65 |
642.54 |
|
NB |
50.55 |
514.64 |
|
GUARANTY |
12.12 |
231.56 |
|
UBN |
15.49 |
169.95 |
|
FIRSTBANK |
19.61 |
109.42 |
Figure 6
5 Most Traded Stocks by Value
Market Capitalization:
First Bank of Nigeria Plc is the highest capitalized stock at N484.86 billion today. This was followed by Nigerian Breweries Plc with N382.29 billion. Zenith bank Plc N345.61 billion, UBA Plc with N272.60 billion and Guaranty Trust Bank Plc N228.90 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 |
484.86 |
28.28 |
8.14 |
|
NB |
382.29 |
22.30 |
6.42 |
|
ZENITHBANK |
345.61 |
20.16 |
5.80 |
|
UBA |
272.60 |
15.90 |
4.58 |
|
GUARANTY |
228.90 |
13.35 |
3.84 |
|
Total |
1,714.26 |
100.00 |
28.78 |
|
Others |
4,241.88 |
|
71.22 |
|
Grand Total |
5,956.14 |
|
100 |
Figure 7
5 Most Capitalized Stocks
Monetary Policy Rate: 8.00 %
Business News
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Term of the day
Break Issue: A type of stock initial public offering (IPO) that trades below the original offering price to the market within the first few months after trading begins. A break issue can be the result of poor market conditions as a whole, industry concerns or lack of demand in the new issue itself.