What shaped the market today?

§ The losses in the Building Materials and Banking sectors weighed on the Index, shedding 223bps and 104bps respectively.

§ There were some positives today as the Breweries (+26bps) and Petroleum Marketing (+7bps) sectors posted slim gains, though the Construction sector remained flat.

§ UNILEVER led market activity trading 20 million units worth N566 million in today’s session.


--------------------------------------------------------------------------------

Market Commentary

§ Index lost 111bps, raising YtD market declines to -14.02%.

§ The market recorded a turnover of N2.07 billion on 170 million units traded, as volume rose by 5% and value doubled relative to August averages.

§ With 32 losers and 8 gainers, market breadth remained negative today.

§ NB, ETI and IBTC topped the gainers’ chart with respective gains of N0.39, N0.38 and N0.30; DANGCEM, UAC-PROP and FO led the losers with respective losses of N2.50, N0.93 and N0.82.


--------------------------------------------------------------------------------






















--------------------------------------------------------------------------------

How they closed

§ [On Bid] – ZENITHBANK, DANGCEM, CUSTODYINS, NB, ETERNAOIL.

§ [On Offer] – GUINNESS, EKOCORP, RESORTSAL, CONOIL, DIAMONDBNK.


--------------------------------------------------------------------------------

Announcements

§ There were no announcements on the Exchange today.


--------------------------------------------------------------------------------

Scorecards

§ [CHAMS] – Q2’11- TURNOVER: N1.78 billion (N/A); PAT: N195.46 million (N/A).

§ [E-TRANSACT] – FY’10 – TURNOVER: N917.82 million (+117.17%); LAT: N138.30 million (-20.83%).


--------------------------------------------------------------------------------

Foreign Listings

§ GT Bank Plc’s GDR Price - $4.02 (+5.37%) = (N12.28 using $1=N152.81); NSE – N13.01 (-2.91%).

§ Diamond Bank Plc’s GDR Price - $4.25 (0.00%) = (N6.49 using $1= N152.81); NSE – N4.25 (0.00%).

§ Oando Plc’s JSE Price – R1.88 (-1.05%) = (N40.51 using R1= N21.55); NSE – N29.00 (0.00%).


--------------------------------------------------------------------------------

What will shape the market tomorrow?



§ Losses deepened further on the back of a sustained lull in the Banking sector and a sharp dip in the Building Materials sector. As investors’ apathy persists, we expect further declines in tomorrow’s session.