MARKET REVIEW: BEARS AND BULLS AT NIGERIAN & NAIROBI LAST WEEK
The bears and bulls were clearly dominant at the Nigerian and Nairobi stock exchanges in week ended Friday March 24.
NIGERIAN STOCK EXCHANGE
At the Nigerian stock exchange bears running scared were more active and so 35 listed equities recorded price drops within the week compared to only 16 gainers.
The losers were led by Seplat petroleum which lost N38.72 per share within the week.
It was trailed from afar by Guinness Nigeria which closed down by N6.50 per share and Forte Oil which lost N2.70 per share.
In all, 8 equities lost grounds with N1 and above. The list includes heavyweight Dangote cement which lost N1 per and others like Unilever and 7up(down by N1.7 per share each); Total Nigeria, down N1.65 and UACN which lost N1.09 per share.
Naturally because the bears were more active within the week, only four equities gained above N1 each.
The pack was led by Nestlé Nigeria with a total gain of N17.99 per share followed by Mobil oil with N17.25 per share gain; La Farge Africa with N5.01 then final Julius Berger which added N2 per share within the review period.
The week's number of deals dropped by 2.97% to 13042 but volume and value went in opposite direction.
Volume grew by 27.2% to 1308.9m goaded by 183.65m offloaded in Custodian Insurance in 93 deals and 174.1m traded in FBN Holding in week 3rd highest 793 deals.
However, the only other equity with deals for above 150m units was UBA which witnessed 716 deals for 158.65m units.
On the other hand, value of trade for the week was paced by GTB in which week high 1349 deals were sealed for 72.6m shares valued at N1,937.657m.
This was followed by the N849.49m value of the deals in UBA; and by 521 deals in Nigerian Breweries for 5.169m shares valued at N668.98m.
Others with value above N400m include Zenith Bank in which second placed 1037 deals involved 45.1m shares valued at N625.9m; FBÑ Holdibgs' N543.9m; Stanbic IBTC's N480.6m in 106 deals for 27.025m units; International Breweries with rather low 30 deals for 28.4m shares valued at N426.09m and Access bank with 4th placed 792 deals for 67.388m shares valued at N411.755m.
NAIROBI STOCK EXCHANGE
Within the same week ended March 24, the bulls put pressure on equity prices although Bonds, the market's main action for now, could not grow on the back of late week strong rally.
In all there 36 price gainers in the equity segment compared to only 11 losers. Top % gain was by Diamond Trust Bank up 12.15% by the close of the week based on average price through the week.
Indeed it was a week the banks dominated gains as only 2 out of the 11 quoted lost grounds. The Diamond Trust Bank lead was closely followed by fellow bank, I&M Holdings with 11.31% but not close enough to prevent Home Africa from the Investment sector from squeezing in between with 11.76% gain per share.
Other top % gainers amongst banks were Standard Chartered bank up 7.92%, NIC Bank with 7.69% and Equity Group Holdings with 5.22% gain per share.
However, ahead of these middle ground % banking gainers were BOC Kenya in tgw Manufacturing sector, up by 10.49%; Crown Paints and Bamburi cement in the Construction and Allied sector with 10.12% and 8.84% gains respectively.
Others with above 6% gain include Nation Media (8.77%); Longhorn Publishers (6.25%) and Kenya Airways with 6.31% in the Commercial sector; Britam ltd (6.32%) and CIC Insurance (6.15%) in the insurance sector and the Nairobi stock exchange itself which gained 6.7%.
With only 2.79% gain within the week Safari Com was certainly not among the top gainers but it was certainly the most active volume wise by recording deals for 37.1% of total volume or 53m shares.
It even recorded volume ahead of all the 11 quoted banks put together and so instrumental in keeping total volume at 142.96m though down from previous week's 222.497m.
At the market's flagship bond section, there was late rally in the last two trading days but week's and deals still dropped by 36.3% to 8564.6m Ksh and 4.97% to 163 respectively.
NIGERIAN STOCK EXCHANGE
At the Nigerian stock exchange bears running scared were more active and so 35 listed equities recorded price drops within the week compared to only 16 gainers.
The losers were led by Seplat petroleum which lost N38.72 per share within the week.
It was trailed from afar by Guinness Nigeria which closed down by N6.50 per share and Forte Oil which lost N2.70 per share.
In all, 8 equities lost grounds with N1 and above. The list includes heavyweight Dangote cement which lost N1 per and others like Unilever and 7up(down by N1.7 per share each); Total Nigeria, down N1.65 and UACN which lost N1.09 per share.
Naturally because the bears were more active within the week, only four equities gained above N1 each.
The pack was led by Nestlé Nigeria with a total gain of N17.99 per share followed by Mobil oil with N17.25 per share gain; La Farge Africa with N5.01 then final Julius Berger which added N2 per share within the review period.
The week's number of deals dropped by 2.97% to 13042 but volume and value went in opposite direction.
Volume grew by 27.2% to 1308.9m goaded by 183.65m offloaded in Custodian Insurance in 93 deals and 174.1m traded in FBN Holding in week 3rd highest 793 deals.
However, the only other equity with deals for above 150m units was UBA which witnessed 716 deals for 158.65m units.
On the other hand, value of trade for the week was paced by GTB in which week high 1349 deals were sealed for 72.6m shares valued at N1,937.657m.
This was followed by the N849.49m value of the deals in UBA; and by 521 deals in Nigerian Breweries for 5.169m shares valued at N668.98m.
Others with value above N400m include Zenith Bank in which second placed 1037 deals involved 45.1m shares valued at N625.9m; FBÑ Holdibgs' N543.9m; Stanbic IBTC's N480.6m in 106 deals for 27.025m units; International Breweries with rather low 30 deals for 28.4m shares valued at N426.09m and Access bank with 4th placed 792 deals for 67.388m shares valued at N411.755m.
NAIROBI STOCK EXCHANGE
Within the same week ended March 24, the bulls put pressure on equity prices although Bonds, the market's main action for now, could not grow on the back of late week strong rally.
In all there 36 price gainers in the equity segment compared to only 11 losers. Top % gain was by Diamond Trust Bank up 12.15% by the close of the week based on average price through the week.
Indeed it was a week the banks dominated gains as only 2 out of the 11 quoted lost grounds. The Diamond Trust Bank lead was closely followed by fellow bank, I&M Holdings with 11.31% but not close enough to prevent Home Africa from the Investment sector from squeezing in between with 11.76% gain per share.
Other top % gainers amongst banks were Standard Chartered bank up 7.92%, NIC Bank with 7.69% and Equity Group Holdings with 5.22% gain per share.
However, ahead of these middle ground % banking gainers were BOC Kenya in tgw Manufacturing sector, up by 10.49%; Crown Paints and Bamburi cement in the Construction and Allied sector with 10.12% and 8.84% gains respectively.
Others with above 6% gain include Nation Media (8.77%); Longhorn Publishers (6.25%) and Kenya Airways with 6.31% in the Commercial sector; Britam ltd (6.32%) and CIC Insurance (6.15%) in the insurance sector and the Nairobi stock exchange itself which gained 6.7%.
With only 2.79% gain within the week Safari Com was certainly not among the top gainers but it was certainly the most active volume wise by recording deals for 37.1% of total volume or 53m shares.
It even recorded volume ahead of all the 11 quoted banks put together and so instrumental in keeping total volume at 142.96m though down from previous week's 222.497m.
At the market's flagship bond section, there was late rally in the last two trading days but week's and deals still dropped by 36.3% to 8564.6m Ksh and 4.97% to 163 respectively.
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