April 11: FIDELITY OFFLOAD AND SAFARI COM COME BACK

Trading at Africa's two NSEs was marked by two main factors today Tuesday April 11 2017.

At the Nigerian stock exchange offload in Fidelity bank set the tone for volume while at Nairobi securities exchange, Safari Com reclaim of day high volume paced the market.

NIGERIAN STOCK EXCHANGE

At the Nigerian stock market, All shares index continued downwards by higher 0.58% to 25478.06 compared to Monday's 0.47% drop but more pace setting was the offload in Fidelity bank.

In all day high cramble for units resulted in day high 417 deals and day high % price change (up 8.70%) as 262.928m shares were sold in Fidelity bank.

This os the first time this year, if not for a long while the same equity will pace the market in all three activity measures: price change; volume and number of deals.

Sure the upswing in Fidelity could not push ASI upwards what with the premium equities all shedding weights through price drops accompanied by some drops in manufacturing and petroleum products sale.

But none of that detracted from. the rather unique ending as it occcurred in Fidelity bank.

In all there were about 12 gainers and 27 losers with only three of the gainers and 6 of the losers recoding above 4% price change.

Trailing Fidelity in % gain was International Breweries 4.92% gain to record 5 deals for 65,369 units.followed by NPF Microfinance 4.88% gain for 7 deals for 598,000 units.

The crowded losers end was lead by 9.44% drop in Mobil oil for 94 deals involving 126,535 units.followed by Oando:s 5.34% decline for 7th day ranked 122 deals for 2,755,638units.

Other losers above 4% include Eternal PLC down 4.98%; NASCON Allied down 4.94%; United Capital with 4.75% drop and Livestock feeds 4.48% down.

Total volume for the day was 402.675m obviously with Fidelity accounting for above 50% but at second place FCMB chipped in 27.35m units in 120 deals; FBN Holdings recorded second placed 337 deals for 22.311m units and Transcorp went down 2.67% to record 99 deals for 17.035m shares.

The total number of deals was high too at 3459 with the lead by Fidelity trailed by FBN, then Zenith which lost 1.28% as 213 deals were sealed for 5.236m units.

NAIROBI SECURITIES EXCHANGE

The main thing at the Nairobi securities exchange was that SafsriCom reclaimed volume lead it lost to KCB Group yesterday Monday and so helped increase equities volume by 39.5% to 14.677m shares.

Deals for 5.620m units were recorded in Safari Com compared to 2.01m units on Monday which trailed KCB Group' deals for 3.019m units on Monday.

On Tuesday though, deals sealed in KCB group involved 2.178m units to place second.

Noteworthy though was that on Tuesday April, Monday's painting of the banking sector with red of price drops kind of, did not quite reoccur.

Sure, amongst the banks, Equity Group Holdings devlined by 5.88%, followed by four other % drops but two others closed up.

Gainers were at 14 were less than 19 losers but apparently the All shares Index rose by 0.11% to 133.45 because margin of % gains were far higher.

Lead gain was British American Tobacco's 9.87% followed by Williamson Tea's 9.26%; Sasini Ltd's 8.82% and Total Kenya's 7.77%.

Also with above 7% gain was Trans century up 7.69%.

Amongst the losers, the pace was set by Olympia Capital's 8% drop followed by Flame tree group down 7%; Unga Group with minus 6.09%; Equity Group Holdings and TPS East Africa Ltd down 4.04%.

Only four equities recorded deals for above 1m units each today. Aside from the two leaders: Safari Com and KCB group, Sasini had deals for 2.13m units and Equity Group Holdings also recorded deals for 1.809m shares.

At the flagship Bonds market, total traded value dropped by 0.47% to 1357.899m Ksh as value traded in fixed income of above  50m nominal value dropped by 10.5% to 1199.899m Ksh and in below 50m nominal value recovered strongly to 158m Ksh compared to only 24.3m Ksh on Monday.

In sharp contrast, unlike all round drops in activity measures on Monday, today Tuesday witnessed all round increase.

Volume traded was up by 39.5%; value traded closed 35% up at 348.184m Ksh and number of deals rose by 34.2% to 1275.

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