March 30: AT LAST, VOLUME DIVE AT NIGERIAN & NAIROBI SEs

It was almost like it was too early yesterday to expect volume crash after Monday's leap in both African NSEs and so, it finally occurred today March 30.

NIGERIAN STOCK EXCHANGE:

At the Nigerian stock exchange volume of shares dealt in crashed by 54.4% to 352.0m units from yesterday's more cautious decline but gainers had quite a field day.

Day high volume was Continental Re's 58.886m units sold in just 11 deals while gaining third highest 4.72% per share.

The gainers field day made trading bullish though. There were 24 gainers compared to only 9 losers and what's more only two of the 9 had drops above 4% compared to four such gainers.

Normally it is the measure in Naira terms that impacts more indices since all are weighted to equity capitalisation. Here the difference was even more clear as too Naira drop was Cement Company of Northern Nigeria's N0.23 per share.

On the other hand, top Naira gain was Mobil Oil's N5.01 per share followed by N3 per share gained by heavyweight Dangote Cement; N1.49 by Unilever and Nigerian Breweries' N1 per share.

Hence, the All shares Index rose rather strongly by 1.05% to 25,533.82 as some major sectoral price gains topped premium index by 1.77% to 1633.11; Banking index by 1.16% to 275.56; lotus index by 1.09% to 1697.74 and the industrial index by 1.01% to 793.79.

Number of deals decreased by single digit (9.8%) to 2438 but these were more distributed between equities. Top deals were recorded in UBA as 316 deals were sealed for 5th placed 24.439m shares; GTB as some scramble for only 5.869m units resulted in 248 deals and Zenith bank's 228 deals for second highest 44.68m shares.

 Actually, 7 equities recorded above 100 deals each and that includes FBN Holdings that trailed Zenith with 188 deals for 13.249m units; FCMB with 120 deals for 31.886m shares; Fidelity bank 107 deals for 3rd placed 33.47m units and 101 deals struck in Oando for 2.75n shares.

Top % gainer was Newrest Air service which closed the day 9.54% higher as 18 deals for 303,355 units were sealed followed by Cadbury Nigeria up 5% to record 25 deals for 6th placed 22.138m units.

Jaiz bank closed the day 4.72% down as 7 deals were recorded for about 1m shares.

NAIROBI STOCK EXCHANGE

At the Nairobi stock exchange it was more a day of decline every where led by 57.6 drop in equity volume to 10.812m and downsizing of Bond traded value by 28.7% to 2913.2m.

At the equities, Safaricom's deals for less than 1m units (997,000) allowed the bottom to drop out of volume traded and even in traded value which declined by 64.9% to 176.099m Ksh.

The sector that this time tried to fill the gap was energy and petroleum but it did not make much difference. With Safaricom closing down in volume traded, day high volume turned out to be KenGen Ltd deals for 3.157m shares followed by fellow energy and petroleum equity, Kenol Kobil with deals for 2.624m units.

Indeed, both equities turned out to be the only ones with above 1m traded volume. Next was the Safaricom day's mite then deals for 762,400 units in banking sector's Equity Group Holdings.

Given the day's low tone, it was significant that the Nairobi stock exchange which is quoted in the market as well had deals for 508 400 units.

That is just slightly below Construction and allied sector's ARM Cement with deals for 512,200 shares but ahead of Banking sector's KCBGroup deals for 491,500 units; Mumias sugar's 339,900 units and Kenya Power & lighting ordinary shares as 282,400 units changed hands.

The dive in the bond market occurred as traded value sell or buy back transactions hit zero; that for government fixed income of above 50m Ksh dropped by 29% to 2787m Ksh and for below 50m Ksh declined by 71.8% to 126.2m from yesterday's 447.75m Ksh.



Comments

Post a Comment

Popular posts from this blog

2018: TWO BLOWS TO UNITED CAPITAL PLC.

When a child who in a previous examination scored 80%, comes home with a new report in which he now scores 67.2%, the parents have a right to sit him down and ask how come. So it must be between Nigeria's United Capital Plc and its discerning shareholders since the release of the company's 2018 audited figures. In 2018, all said and done, says the annual report, United Capital ended with 67.2 % profit margin compared to 80.2% in 2017. How come? What comes across from the figures was that the company received 2 blows to the jugular in 2018: Sharp drops in Investment income and fair value gain. Investment income dropped by 10.8% to N4422.8m from N4965.2m while fair value on financial assets plunged by 79.7% to N6.173m from 2017's N30.387m. In view of both drops, the group's gross earnings grew by only 33.9% to N9259.4m despite strong growths in net trading income, and net operating income leap to N757.5m from N143.5m  Other income streams ended with single digit increase....
Read more

KENYA AUCTIONS Ksh 13.84bn Treasury Bonds.

The Central Bank of Kenya (CBK) will from Tuesday December 18 to 27th 2018_ auction Ksh 13.84bn worth of fixed income Treasury Bonds with issue date December 17, 2018. According to official statement from the Director of Financial Markets Irene Njiru on Monday December 17, auction will continue throughout the stated period or close once the target money to be raised is reached, whichever comes first. Bid value will be paid for at most by 2pm December 31, 2018 while auction results will be made public on December 28, 2018 after the scheduled closing date. The bonds are being issued at 12.502% fixed interest at an adjusted average price of Ksh 100.468 for Ksh 100 bond. However, price payable after auction results publication will be average of successful bid prices based and allotment will be on first come first served basis. Meanwhile, the monetary operations and debt management department has released the interest payment schedule for 13 Treasury Bonds due January and February 2019. Th...
Read more

NAIROBI SE's HIGH PRICED EQUITIES.

In the wake of Nigeria's high priced quoted companies posted in this blog a while ago, Henates took a look to at Nairobi Securities Exchange June 23 official list to identify its high priced equities and the outcome was interesting too. Of the 66 companies quoted on the market by June 23, 15 or 22.7% were valued averagely at above 30 times nominal value. A word of caution though: There are two clear differences between the Nigerian stock market list and that of Nairobi: In the Nigerian one most listed companies have par or nominal value of N0.50 as is there is an implied agreement on this. On the other hand, at Nairobi most of the equities do not share common par value, they differ greatly. Then another thing, Nigerian equities are not valued below par, Nairobi ones can and many are so valued. Of the top 15 high priced equities at the Nairobi market, Safaricom topped with because by June 23, at 23.25 Ksh average price, it was valued 465 times its nominal value of just 0.0...
Read more