March 22: UBA OFFLOAD AND BOND REMAINS TOP AT NIGERIAN AND NAIROBI.

The two African NSEs: Nigerian and Nairobi stock exchanges continued to record All shares indices shift in opposite directions today March 22 easing in Nigerian SE and rising at Nairobi SE.

NIGERIAN STOCK EXCHANGE:

At the Nigerian stock exchange, ASI eased 0.17% as 1.96% upward push by industrial index was checkmated by drops in the Consumer; Main board; Banking and NSE 30 indices.

Volume recovered by 29.4% though as offload in UBA rose to 64.5m shares compared to about 52m offloaded yesterday.

Just like for Tuesday, the whole market was far behind as the offload was sols in 3rd placed 171 deals to push total volume up to 198 8m.

The closest in volume terms was GTB in which day high 277 deals were struck for 29.4m units although unlike UBA which gained 0.56%; it lost 1.08% per share.

With total number of deals down by 13.7% to 2306 it turned out only the top five recorded deals above 100.

Aside from GTB and UBA others were Zenith's second placed 187 deals for 4.17m units; Access bank's 157 deals for 24.45m shares and about 4.8m units in FBN Holdings sold in 130 deals.

Diamond bank with only 22 deals did not make it beyond the lower bottom of the deals chart but the 15.5m shares involved made it to the fourth place on volume.

Much the same with FCMB in which 59 deals were clinched for fifth placed 11.5m units.

None of the day's 15 gainers and 22 losers made it to top five in volume or deals. In % the 6 with above 4% gains were led by LA Farge Africa in which 49 deals were sealed for 996,035 shares and Julius Berger with 4.88% increase as 170,188 were taken up in 13 deals.

Others were African Prudential up 4,82%; Custodian Insurance with 4.75%; NAHCO (4.5%) and Guinness Nigeria up 4.35% with the added honour of leading Naira gains with N2.61 per share.

Eight out of the 22 losers went down by above 4% with Eterna oil and Unilever leading the pack with minus 5% each.

Top loser in Naira was Nestlé Nigeria which went down by N10 per share or 1.33% followed by Total oil Nigeria with N2.1 per share and Unilever down N1.70 per share and Eternal Oil's N1.16 per share.

Indeed, it could be said that cluster drops by petroleum marketing equities which included Mobil oil, Total; and Forte oil was instrumental to the ASI easing but with help from rarely traded but active trades in Learn Africa, International Breweries and of course, Unilever Nigeria.

NAIROBI STOCK EXCHANGE:

At the Nairobi stock exchange Bonds remained where the real action is and Wednesday March 22 did not disappoint but value dealt in dropped by 24.2% to 915.4m Ksh as at the equities market ASI continued to rise.

As usual Government fixed bonds below 50m Ksh was most active as all quoted ones recorded deals but in value terms, the lead was by 840m in fixed bonds above 50m Ksh while sell or buy back transactions chipped in 2 deals for 257.65 Ksh.

At the equities market volume and value closed up by 15.3% and 23% to 26.758m units and 577.5m Ksh respectively.

Safari com closed back at the top with deals for day high 11.7m units but the action was once again in the banking sector where 9 out of 11 listed equities had deals.

Three were for relatively large parcels since they involved above 2m each. Equity Group Holdings led this pack with 2.792m followed by Cooperative Bank with 2.694m and KCB Group with 2.079m.

Diamond Trust bank (500,500 units); Barclay's bank Kenya (143,200) and NIC Bank with 135,000 also had relatively fair volumes.

Energy and Petroleum sector was not as active as in previous day but Kenol Kobil ended with deals for 1.66m and Ken Gen co recorded 442,000 units.

The fourth highest units were recorded in ARM Cement with 2.233m units in construction and allied where 4 out of five equities had deals mostly of the small parcel type.

Insurance sector was active too although as all 6 equities recorded deals only CIC Insurance (1.16m units) and Britam Holdings (1.1m) crossed the 1m mark.

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