MARKET REVIEW: NIGERIAN: VOLUME UP, NAIROBI: UMEME TOPS GAINS .

At the two NSEs last trading week ended Friday March 17, the strokes were abit different especially in terms of gainers and losers 

NIGERIAN STOCK EXCHANGE:

At the Nigerian stock exchange last week offloads in Diamond Bank helped push volume up by 0.56% to 1,029,268,546 units but could not stop total value from going down by 36% to N7 980m from N12464m clocked previous week 

Total number of deals also dropped by 18% to 13441 deals with, as usual financial equities being responsible for top group deals 

Week high number of deals was Zenith's 1375 but involving 4th placed 81,148,598 units valued at  3rd laced N1151.97m.

Ahead of Zenith in terms of volume were the 208,757,906 units offloaded in Diamond bank within the week in 234 deals valued at just N176.3m to place ninth in terms of value.

Leading the value chart for the week was Nestle Nigeria in which only 166 deals were recorded for equally lowly 2,097,778 units but because it is one of the highest Price's shares, value involved came to N1,530.2m.

It was followed by GTB in which 3rd place 864 deals were sealed for 7th placer 56,124,193 units valued at N1,458.7m.

In the end only these three equities recorded deals valued at above N1bn. Indeed, Seplat Petroleum trailed them with 39 deals for 1,138,632 units valued at N475.6m.

Not so in terms of volume and deals though. For both, FBN Holdings placed second with 891 deals for 94,406,514 shares valued at 7th placed N291.9m.

From close range to FBN, Fidelity bank recorded 94,060,433 units in 7th placed 555 deals valued at 9th placed N176.3m 

There were 31 gainers and 22 losers within the week with Seplat Petroleum recording week high N18 per share followed by Total Nigeria with N2.55 per share and Beta Glass with N2 per share 

The losers were led by 7up Bottling which lost N8.29 per share; followed by Mobil oil down N5 per share; Nestle Nigeria with minus N4,98 per share and Forte oil which lost N3,72 per share.

NAIROBI STOCK EXCHANGE:

Without recording big time deals last week, Kenya's Umeme ltd recorded the highest average price increase in the Nairobi stock exchange rising by 14.48% on previous week's average.

Umeme had recorded deals for only 220,100 units short of the market top ten by volume within the week.

It was followed by Cooperative Bank ltd with 13.25% increase on previous week closing average although with deals for 4th placed volume of 9,725,100 units.

Also up in double digits, in terms of % were Olympia Capital Holdings up 12.5% and Kakuzi ltd which closed the week 10.33% higher than previous week's average 

In all there were 24 gainers and 23 losers within the week with the % losers paced by Express Kenya ltd down 16.92% followed by Unga Group with single digit minus 9.52%; CIC Insurance with 9,27% drop and 8.53% decrease by Standard Group ltd.

Total volume came to 222,497,900 units with Safari com the clear leader with deals for almost 50% (112,014,000 units) trailed from quite a distance by Equity Group Holdings with 15,226,500 units and of course Cooperative Bank.

Within the week total value of shares dealt in the equity segment of Nairobi stock exchange was Ksh 4,375.3m in 5536 deals and closing market capitalisation of ksh 1,835,417bn ($140,854m).

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