March 23: ASI FIRM; BOND UP 166.3% AT NIGERIAN AND NAIROBI SEs.

The two African NSEs, Nigerian stock exchange and Nairobi closed today March 23 leaning i quite different directions.

NIGERIAN: ASI  FIRM. 

Perhaps for the first this year, if not in years, today March 23 the All shares index closed more or less firm at 25514.03 compared to 25514.09 yesterday.

This was because gains by industrial equities that pushed their index up by 1.96% and premium ones as the premium index rose by 0.15% was checkmated by down swings that led to 0.65% drop in the Lotus index; 0.6% decrease in consumer goods index; 0.37% drop in the main board index and more marginal decreases in oil and gas and NSE 30 indices.

In terms of number the gainers werw more though (20 as against 14 losers) but only Nestlé Nigeria (up N9.0) and La farge Wapco (N3.2) gained much in Naira terms.

However, 5 out of the 20 gainers topped up by above 4% with La Farge at the front with 8.47% followed by Learn Africa which gained 4.62% as for the second day, it recorded one deal for 100,000 units.

On the hand La Farge gained that much as 4th placed 130 deals werw recorded for 10th 2,730 875 units.

Among the losers, only two dropped by above 4% with Seplat Petroleum leading in % and Naira down 9.73% or minus N38.72 per share. This was accompanied by 20 deals for 46,240 shares.

It was trailed by Guinness Nigeria with N2.64 per share or 4.21% decrease.

There was a marked drop in volume by 42.1% to 115,1m after yesterday's 29.4% leap on the back continued offload in UBA 

This time there was no major offload and so, GTB's day high 329 deals involved top rated 20.5m shares while gaining 1.13% price wise.

It was followed by Access bank with 14.8m units sold in 3rd placed 249 deals though while losing 3.58% of opening price per share.

There was 24.1% rise in number of deals to 2861 with the lead by GTB followed by Zenith Bank with 257 deals for 8.49m shares while both Access bank and LA  Farge were followed by FBN Holdings in which 115 deals were struck for 2.15m units.

NAIROBI: BOND RECOVERS STRONGLY 

On the other hand, at the Nairobi the bond market recovered strongly going up 166.3% in traded value as equities traded value dropped by 45.6% to 314 184,961 Ksh in spite of 31.4% increase in volume to 26.759m 

The leap in bond traded value was as 1,710m Ksh was recorded in government fixed bonds above 50m Ksh compared to 840m previously and sell or buy back value increased to 656m.

At the equities segment, Sarafi com once again led volume with deals for 9.23m but the banks this time, though all 11 of them recorded deals as usual, did not contribute decisively to increase the days volume. This was because led Cooperative bank's 685 600 units all the deals were for average units 

Instead the insurance sector did better as 5 out of 6 quoted recorded deals two of which were for above 1m each.

These were the 2.718m units that changed hands in Kenya Reinsurance and 1.51m units in Britam Holdings.

The only other equity with deals for above 1m was Long horn Publishers in which approximately 1.077m shares changed hands.

By close of trading, value was not the only one down, deals too dropped by 3.62% to 904.

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