MONDAY, March 20: VOLUME TRIPPLES AND DROPS AT NIGERIAN AND NAIROBI SEs

The Nigerian and Nairobi stock exchanges had one thing in common today Monday 20: solid banking support for leading offloads but with different outcomes. See below.

NIGERIAN STOCK EXCHANGE:

At the Nigerian stock exchange good volume i banking as 10 out of 12 recorded deals sealed up top ten domination of the day's long time high 495 238 034 units, triple Friday figure.

The last time this year that daily volume crossed the 400m mark was on February 28  when major offloads in Continental Re and Zenith drove it to 444,504,723units 

This time around the feat was achieved on the back of offloads in Custodian & Allied Insurance and FBN Holdings with good support from the banking subsector.

Lead volume was in Custodian where 7 deals for 176,410.745 units were recorded while its price per share went down 4.95%, the day's third highest % decrease.

It was followed by third placed 172 deals in FBN Holdings for 150,353,486 units at a price down 1.27% per share 

Both leading equities thus accounted for 66% of the day's volume. However, support activities in the banking sector had wrapped up top ten's volume share very nicely.

Yes, from quite distance UBA chipped in 25,095 634 units in 115 deals at N5.47 per share down 0.55% to leading 10 out of 12 banks with deals.

Diamond bank recorded 76 deals for 20,516,152 shares; Fidelity had 110 deals for 18,799,306 units and five other financial sector equities had deals for above 12m units: FCMB; United Capital; Access bank; and GTB which recorded day high 276 deals for 12,153,204 units.

Still on record volume, Zenith too deserved mention as 197 deals in it were sealed for 23,036,284 units which was actually 4th placed in terms of volume.

There was 11.3% rise in deals too to 2587 with Sterling bank trailing GTB's lead with 263 deals for just 3,868,613 units 

At 13 gainers were fewer than losers (22) but with two heavyweights: Nestlé Nigeria and Mobil oil gaining N19.9 and N14.0 per share respectively, All shares index rose by 0.07% to 25671.55 for the sixth day at a stretch.

In % terms only 3 equities gained above 4%: Mobil oil; NAHCO (5% like for Mobil) and Fidson Healthcare up 4.49%.

On the other hand, quite a crowd of 8 equities lost above 4% led by United Capital down 5% followed by Guinness with 4.99%, Custodian Allied 4.95% and Neimeth International with 4.92% drop.

NAIROBI STOCK EXCHANGE:

At the Nairobi stock exchange deals in all eleven listed banks contributed 53.1% of the days 32,188,300 units in support of lead by Safaricom's 12,692,800 units.

However the final result was 0.30% drop in volume unlike the triple jump recorded in the Nigerian stock exchange.

The banks were led by deals for 10,109 600 units followed by Cooperative Bank's 5,089 300 shares. The least volume in the sector was I&M Holdings' 400 units 

Most other sectors too were active but, perhaps volume ended down because most deals were for small parcels.

A lone exception could be Energy and Petroleum where Ken Gen Ltd recorded deals for 808 700 units to lead five with deals out of seven listed,

All six insurance equities recorded deals but top of the lot was CIC Insurance's 74,100 units followed by Britam Holdings 39,000 units and Kenya Re's 30200 shares.

An exception too can be cited in manufacturing and allied where 7 out 10 listed equities recorded deals  led by Mumias sugar's 251,000 units.

Noteworthy too was the fact that lone equity in Investment services, Nairobi Stock exchange itself had deals for 294,000 shares.

However, All shares index continued rising, this time by 0.47% to 127.20 and number of deals too closed up 6.36%.

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