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In: weekly report
28 Jan 2011Courtesy of FSDH, Lead Capital, IBTC and Afrinvest, here is the analysis of the Nigerian Stock market for the week ended January 21st 2011:
+ The NSE All-Share Index inched up at the end of the week by 153 bps, despite a weakened start.
+ The banking sub-sector rallied with more gains than losses this week, in spite of profit taking activities by participants. Few banking stocks recorded losses as Skye Bank, Stanbic IBTC, Union Bank, Bank PHB and Afribank all shed above 2.0% apiece. Low priced stocks were participants’ favourites this week and this led to some recording double digit gains at the end of the week. FinBank, Unity Bank and Spring Bank gathered 13.0%, 15.9% and 25.4% respectively, while some of them closed with unsatisfied bids. Some top-tier banks also recorded gains in excess of 3.0% each.
+ In the building materials sector, Dangote Cement emerged the lone gainer in the sector this week inching up marginally, while Lafarge WAPCO and Ashaka Cement both shed over 2.0% apiece.
+ Guinness inched up with a 13.5% gain, while International Breweries bagged a 9.0% gain to close the week. On the flip side, profit taking activities shaved off 6.0% from NB, signaling the end of its week-long rally.
Market notes:
The market resumed on a profit-taking note this week as the NSE All-Share Index cumulatively gained 419 bps.Participants, reacting to the disbursement disclosure by AMCON, scrambled for the available shares of rescued banks leading to cumulative gains in excess of 16.7% for Spring Bank, Afribank, FinBank and Oceanic Bank. Some mid-tier banks were also favoured this week, with Fidelity Bank, Sterling Bank and Stanbic IBTC bagging gains all week and recording cumulative appreciation of 11.1%, 11.4% and 15.8% respectively. Selling pressure however curbed the ascent of top –tier banks to marginal gains.
News on investments by Heineken in some breweries acted as a catalyst for the rally on NB. This and a combination of held back offers by sellers fuelled a frantic demand for the stock as it subsequently bagged a 10.0% gain at the close of the week. Demand for Guinness shares also remained strong this week, however illiquidity acted as a barrier to any price appreciation.
In line with the market trend, all companies in the building materials sector recorded price appreciations this week; Ashaka Cement inched up with a 5.2% gain, while CCNN and Lafarge WAPCO recorded gains of 6.0% and 4.2% respectively. Dangote Cement also inched up by 2.7% this week.
Courtesy of Afrinvest and Lead Nigeria, here is the NSE report for the week ended January 7th 2011:
In: News|weekly report
17 Dec 2010I know… I know… This is a week late.
Courtesy of Afrinvest, FSDH, IBTC, and Lead Capital, here are the stats for the NSE for the week ended December 10th, 2010:
+ The week under review was bearish, as the NSE All-Share Index lost 146 bps.
+ Despite the bearish activities experienced in the market throughout the week, the banking sub sector managed to record marginal appreciation, on the share prices of some stocks that traded actively during the week. The likes of Union Bank, Oceanic Bank, Ecobank and Intercontinental Bank recorded gains below 3.0%, while GTBank gained 6.3% to close the week. Top losers in the sector were Afribank, Finbank & Zenith Bank with losses of 12.2%, 12.1% and 7.5% respectively. Other losers included Ecobank, Skye Bank, Fidelity Bank, Diamond Bank and Unity Bank amongst others that lost between 1.0% and 6.4%.
+ In the breweries sector, Guinness recorded the lone gain of 1.8%, while NB shed 2.5% as International Breweries closed flat.
+ In the building materials sector, CCNN went southwards losing 3.9%, while Ashaka Cement lost 4.2%. Dangote Cement on the other hand recorded a marginal points gain.
In: News|weekly report
8 Dec 2010Courtesy of Lead Capital, FSDH, Afrinvest, and IBTC, here is the NSE report for the week ended December 3rd 2010:
· The NSE All-Share Index went up by 79 basis points, ending the week on a positive note despite the downward movement recorded in the index today.
· The banking sub-sector traded mostly sideways this week, however, Access Bank led the gainers’ list by 5.0%. Other gainers include Ecobank, GTBank, Sterling Bank and Afribank with gains between 2.7% and 3.3%. Skye Bank, Zenith Bank and UBA also recorded gains between 0.9% and 1.4%. On the flip side, the rescued banks topped the losers’ list in the sector. Unity Bank, Wema Bank, Union Bank and FinBank shed between 5.0% and 9.0%, largely due to profit taking activities by participants.
· The building materials sector experienced low trading activities throughout the week. It however picked up slightly on the last trading day. Ashaka Cement recorded an 8.8% uptick, followed closely by Dangote Cement with 2.0%. Lafarge Wapco also recorded a 1.2% gain. CCNN was however the lone loser in the sector, shedding 3.2% to close the week.
· All the three stocks that traded in the breweries sector recorded varied gains this week; Guinness, NB and International Breweries gathered gains in excess of 4.0%.
And here are the charts for the week’s performance:
<a href=”http://www.naijalowa.com/wp-content/uploads/2010/12/nse_stats1.bmp”><img title=”nse_stats” src=”http://www.naijalowa.com/wp-content/uploads/2010/12/nse_stats1.bmp” alt=”" /></a>
<a href=”http://www.naijalowa.com/wp-content/uploads/2010/12/nse_stats_more.bmp”><img title=”nse_stats_more” src=”http://www.naijalowa.com/wp-content/uploads/2010/12/nse_stats_more.bmp” alt=”" width=”482″ height=”532″ /></a>
And here are the results:
<a href=”http://www.naijalowa.com/wp-content/uploads/2010/12/nse_results.bmp”><img title=”nse_results” src=”http://www.naijalowa.com/wp-content/uploads/2010/12/nse_results.bmp” alt=”" width=”490″ height=”442″ /></a>
And here are the reports from the stockbrokers:
NSE Weekly Report - Afrinvest - Dec 3rd 2010 (156).
NSE Weekly Report - Afrinvest - Dec 3rd 2010 - Weekly Update (153).
NSE Weekly Report - FSDH - Dec 3rd 2010 (203).
NSE Weekly Report - IBTC - Dec 3rd 2010 (183).
NSE Weekly Report - Lead Capital - Dec 3rd 2010 (149)Courtesy of FSDH, Lead Capital, IBTC, and Afrinvest, here are the weekly NSE reports for the week ended Friday, November 26th 2010:
+ Most of the stocks of the rescued banks were bullish during today’s trading session, as participants continued to review their prices upward until they peaked at the maximum prices for the day. Oceanic Bank bagged maximum points, while other rescued banks gathered points in excess of 4.0% apiece. Zenith Bank and First Bank managed to record marginal points, while some stocks in the sector failed to delight participants; subsequently the likes of GTBank and UBA shed 1.1% and 1.3% respectively.
+ In the food and beverages sector, Dangote Sugar, Nascon, Nestle and Dangote Flour recorded gains ranging from 0.4% to 2.1%. Other stocks in the sector traded sideways.
+ The building and materials sector ended the week on a quiet note as participants were unwilling to review their prices upward. Ashaka Cement, despite the lull in the sector, recorded a 1.3% gain. Other stocks that traded in the sector remained unchanged.
Find below, a summary of the activities for the week ended today:
+ There was a lull in market activity this week, as the NSE All-Share Index shed 140bps cumulatively.
+ Profit taking shaved off varied points from the rescued banks’ stocks; Finbank, Intercontinental Bank, Wema Bank and Oceanic Bank all shed between 10.5% to 14.0%. However, the rescued bank stocks began rallying today and traded at the highest end of the market while closing with robust bids. GTBank and UBA also shed 2.8% and 6.4% respectively. On the flip side, Skye Bank, Ecobank, Spring Bank, Afribank and Fidelity Bank all gained points between 1.6% and 5.3%. No gains were recorded by the top tier banks this week.
+ Most stocks in the building materials sector traded sideways; however Lafarge Wapco gained 1.3%, while Ashaka Cement recorded a marginal loss.
+ In the breweries sector, all three traded stocks lost varied points; as institutional sales suppressed the share prices of NB, Guinness and International Breweries with losses of 1.2%, 9.6% and 13.6% respectively.
Courtesy of Proshare, FSDH, IBTC and Lead Capital, here is the summary of the market activities as well as the charts for the week.
Courtesy of FSDH, Stanbic IBTC, and Lead Capital, here is the summary of the NSE for the week ended November 12th 2010 as well the market reports:
+ The NSE All-Share Index gained 229 bps cumulatively this week.
+ Bullish activities were very prominent in most of the rescued banks’ stocks this week; this is due partly to the announcement in respect of AMCON modalities to be released in the coming week. As a result the likes of FinBank, Wema Bank, Oceanic Bank, Union Bank and Bank PHB all recorded gains between 14.5% & 21.0%. However, the top tier banks were not left out in the bullish activities, First Bank appreciated by 5.6%, Zenith Bank 9.0% and UBA 9.5%, while GTBank closed the week unchanged.
+ In the food and beverages sector, bearish sentiments dominated proceedings this week, this translated to losses of more than 2.0% for Cadbury, NBC and Flour Mills. On the flip side, Nascon, Dangote Sugar and Dangote Flour recorded gains of between 1.7% and 6.0%.
+ Activities in the insurance sub sector improved slightly this week and this led to price appreciation for some of the stocks in the sector; Niger Insurance gathered 22.8%, and this was followed by Law Union & Rock with a 7.4% gain, while Cornerstone inched up by 4.0%. On the other hand, Custodian & Allied, Prestige and NEM all shed above 4.0% each.
· In the banking sector; last minute sales of over 10m units of Oceanic Bank shares by some participants could be an indicator that the bullish run on the stock might be coming to an end soon as participants seek to lock in gains, other fringe players remained bullish however with robust unsatisfied bids at the close of the session. On the flip side market forces sent Access Bank, Stanbic IBTC, Diamond Bank, GTBank and UBA southwards today, while Zenith Bank inched up by marginal points.
· In the building materials sector, the bears continued to hold sway over Dangote Cement, trading fully on offer throughout proceedings. Ashaka Cement and CCNN were not divergent to this trend shedding 0.7% and 3.5% respectively. Lafarge Wapco however, bagged marginal points.
· In other sectors, an upward review of prices at the last quarter of the session led to a marginal gain for NB, on the flip side International Breweries shed full points with active demand at the lowest price for the day.
Find below, a summary of the activities for the week ended today:
· The NSE All-Share Index shed 97 basis points this week, the market was relatively quiet and price volatility for most stocks was minimal.
· In the banking sector aside distressed banks, most companies traded around current support levels, with sustained demand matching offers leading to marginal gains and losses. FCMB and Zenith Bank were up by 10.1% and 4.0% respectively, while Skye Bank, UBA and First Bank lost 0.7%, 4.4% and 2.6% respectively. Sellers holding back on offers for distressed banks continued this week, subsequently top gainers in the sector were Bank PHB, Afribank, Oceanic Bank, Intercontinental Bank, Unity Bank and Wema Bank with gains in excess of 25.0% apiece.
· The breweries sector did not diverge from the current trend, bids for NB were at the lower end of the market for most of the week, an upward review on Friday however led to a 1.2% appreciation in its share price, the current support level however appears to be N76, Guinness also traded around the N180 price band for most of the session this week.
· Bearish sentiments dominated the building materials sector this week, with only Lafarge Wapco diverging from this trend, as robust bids at the N40 mark curbed any price slide. Dangote Cement lost 5.0% as investors seeking exits outweighed current demand in the market. CCNN and Ashaka Cement were also not spared shedding 8.1% and 3.5% respectively.
Courtesy of Afrinvest, FSDH, Lead Capital, and IBTC, here is the NSE weekly report for the week ended October 29th 2010:
Gains in the banking sector were skewed to low priced and mid-tier banks. On the up-tick were Oceanic Bank, Bank PHB, Sterling Bank and FCMB, all booking gains in excess of 4.0% apiece. The Q3 results released by Oceanic Bank lent further support to the rally on the stock with sellers holding back on offers. On the flip side, top-tier banks Zenith Bank, UBA and GTBank headed southwards, as selling pressure shaved off 3.2%, 0.6% and 0.8% from their respective share values. GTBank appeared to trade at a support level of N17.00 but with the possibility of inching marginally lower in coming sessions next week. Sentiments in the market also suggest that Zenith Bank could shed more points in coming sessions next week, as demand for it was strong at the lower end of the market.
In the food and beverages sector, an upward review of prices in response to the robust demand for Flour Mills led to a 2.7% mark-up. Also on the up-tick were NBC, Tantalizers and Dangote Flour, inching up with gains of 5.0%, 1.9% and 0.6% respectively. On the other hand, Dangote Sugar and Cadbury both shed over 2.8% apiece.
In other sectors, strategic trades resulted in Guinness trading over 5.0m units; this however did not translate to gains. NB was relatively quiet and shed marginal points of less than 1.0%.
The market witnessed a colossal listing of Dangote Cement stocks in the week under review inching up the market capitalization from 6tr to about 8tr. The NSE All-Share Index cumulatively gained 25bps this week.
The low priced stocks in the banking sub sector continued to sustained the unsatisfied bids throughout the week; Oceanic Bank topped the gainers’ list this week recording a 27.0% gain, followed closely by Afribank with 25.4%, while Intercontinental Bank, Wema Bank and FinBank gained between 20.0% and 22.0%. Institutional trades coupled with profit taking trimmed off varied points from First Bank, Zenith Bank and UBA; all shedding points between 1.0% and 7.0%.
There was an improved trading activity in the breweries sector this week, though the trades failed to translate to gains for both Guinness and NB which accounted for majority of the volumes traded in the sector. Guinness closed flat while NB shed 2.0%.
In food and beverages sector, Flour Mills rallied to top the sector with a 4.6% gain, while NBC, Cadbury, Nestle and Tantalizers gathered between 1.0% and 4.0% to close the week. On the flip side, Dangote Sugar and Honeywell Flour shed 0.5% and 3.8% respectively.
Courtesy of FSDH, Lead Capital, and Afrinvest, here are the NSE statistics for the week ended Friday, October 22nd:
- The market caved into bearish sentiments mid-week however a spike on Friday curbed the downward trend, as the NSE All-Share Index subsequently lost 39bps closing at 24,978.70.
- Profit taking in the banking sector sent most mid-tier banks tumbling this week, Access Bank, FCMB, Stanbic IBTC and Skye Bank all shed points ranging from 0.2% to 8.0%, top-tier banks were not spared either, however, bullish sentiments on Friday had most of the top-tier banks recording varied gains; First Bank and GTBank inched up with gains of 2.9% and 3.4%respectively, while UBA and Zenith Bank both gained marginal points. The rally on Oceanic Bank remained strong all week resulting in a 25.5% gain. Sentiments in the market indicate that the rally could continue into mid-next week before profit taking starts.
- The food and beverages sector went to the bears this week. Profit taking trimmed off less than 1.0% from Dangote Flour while Dangote Sugar shed 1.2%, Cadbury also lost 12.1%. On the flip side Honeywell Flour and 7up bagged gains of 7.5% and 5.0% respectively.
- In the same vein bearish sentiments trimmed off 1.4% an 2.8% from International Breweries and Guinness this week, while NB lost marginal points.
Courtesy of Lead Capital, IBTC, FSDH, and Afrinvest, here are the stats and reports for the week ended October 15th 2010:
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