March 27: McNICHOLS, ZENITH FEAT; SLOW MONDAY AT NIGERIAN & NAIROBI SEs.

At Africa's two NSEs today March 27, mood more or less reversed  leaving McNichols and Zenith to perform feats at the Nigerian SE and Nairobi with slow start even in the bond market.

NIGERIAN STOCK EXCHANGE

At the Nigerian stock exchange most indicators with McNichols performing rare feat of moving the ASEM index up while Zenith heralded 62.3% rise in volume to 561,481,055 units.

After weeks of. closing firm with no activity in the emerging market, the ASEM index closed today 0.11% at 1194.88 as a single deal was recorded in McNichols for 4,420,525 units at N1.33 per share, up 3.10%.

There were no other activities in the emerging market for the day.

Zenith on the other hand, recorded offload of 52.9m shares taken up in 4th placed 210 deals to almost singly account for the strong recovery in volume.

There were other major contributors though to the volume growth led by second placed 37.9m units sold in Fidelity bank in 5th placed 196 deals.

Also 5 others chipped in above 10m units each including Stanbic IBTC's 40 deals for 23.1m shares; GTB's 3rd placed 242 deals for 4th placed 18.4m units; UBA's day high 332 deals for 17.869m shares; FBN Holdings 2nd placed 269 deals for 15.796m shares and 12.783m units exchanged through 83 deals in Transcorp.

Actually, the industrial index ended the day as a lone ranger posting 1.13% drop to 1544.97 while all other sectoral indices followed the marginal 0.12% increase in the All shares index to 25485.17 after heading down for days.

In all, there were 17 gainers and 12 losers. Gainers were paced in Naira and % terms by 7up Bottling up 5.25% or N 3.99 per share 

It was followed by Unilever Nigeria with N1.6 per share or 4.95% of opening price; then by Transcorp with 4.4% gain and PZ Cussons up 4.29% although its N0.62 per share Naira gain was ahead of Transcorp's N0.04 per share.

In Naira terms, the losers were led by La Farge Africa even as it dropped only N1.11 per share but in %, Champion Breweries set the pace with 5% drop followed by Fidelity bank with 4.94%; livestock feeds by 4.23% and Transcorp's 4.05%.

Total deals sealed also increased by 16% to 3032 to round up upbeat Monday.

NAIROBI STOCK EXCHANGE

At the Nairobi stock exchange, it was quite a difficult story as traded bond value crashed by 61% to 997.15m Ksh while equity volume, value and deals also dropped.

The down swing in bond was led by 85.8% decline in value dealt in fixed interest government bond above 50m Ksh to 319m and 47.1% drop in that done on fixed bonds below 50m Ksh to 66.95m Ksh.

On the other hand, the 2.15% drop in equity volume to 26.789m was despite far higher offering in pace setting Safaricom in which deals were sealed for 13.2m units..

The other few equities that contributed above 1m to the volume include Equity Group Holdings with deals for 5.05m units to pace banking sector; Kenol Kobil's leading deals for 4.184m in the Energy and Petroleum sector: and ARM Cement's deals for 1.03m.

Stepping down below 1m mark, a couple of banks find good space along side or ahead of deals for 217,600 units in the Nairobi stock exchange itself as a quoted entity.

Among these banks were Barclays bank of Kenya with deals for 879,000 shares; Cooperative bank with 532,00 units dealt in; KCB group with 374,600 units and Housing finance with deals for 112,400 units.

Others include energy & petroleum's KenGen with 161,000 shares; Kenya power & lighting with 105,000; Insurance sector's Britam Holding with 131,700; Investment sector's Centum Investment with 155,700 shares, Home Africa (111,000) and Commercial and services sector's Deacon East Africa with deals for 168,600 units and Kenya Airways with 126,500 shares.

In all total number of deals dropped by 1.34% to 957 and traded value decreased by 19.2% to 523.3m Ksh.

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