April 12 2017: BANKS DOMINATE AT AFRICA'S TWO NSEs

Today, Wednesday April 12 2017, Banks clearly dominated trading at the Nigerian stock exchange and Nairobi securities exchange.

NIGERIAN STOCK EXCHANGE

At the Nigerian stock exchange banks accounted for 52.7% of the day's traded 247.678m shares led by Fidelity bank for the second day.

This time day high volume was Fidelity's 97.574m units involving equally top 360 deals but it could not top % gains as well like it did yesterday. It gained only 1% to close the deals.

Helping to maintain the banking dominance, UBA recorded 3rd placed 175 deals for 7th ranked 9.613m units;  Access bank had 5th placed 156 deals for 3rd placed 17.8m shares; 6th ranked 155 deals were sealed in GTB for 3.226m units and Diamond bank recorded 40 deals for 7.28m units amongst others.

FCMB group actually recorded the 2nd highest volume at 36.129m involving 7th ranked 117 deals

However, the volume recorded in the banks could not help day traded units from dropping by 38.5% to 247.678m and number of deals from also easing by 15.9% to 2909.

In all there were 20 gainers and 18 losers with the All share index finally punctuating three days of back to back drops by inching 0.07% up.

This occurred as gainers pushed premium, NSE 30; banking; consumer goods and insurance indices up while losers depressed industrial index especially by 2.26% alongside oil and gas index.

Zenith bank, while gaining 0.35% to help top premium index recorded 2nd ranked 298 deals for 9.094m units while fellow premium equity, FBN Holdings gained 3.24% to record 4th placed 171 deals for 6.832m shares.

Top losers were 6 equities with above 4% drops. Leading the pack was Unilever Nigeria down 5% for 5 deals involving 65,550 units.

On the other hand 4 gainers recorded above 4% gains led by 5% gain recorded by Dangote Sugar as 43 deals were sealed for 3.24m units.

NAIROBI SECURITIES EXCHANGE

At the Nairobi securities exchange, banking dominance was more marked flagship bond market traded value dropped by 24% to 988m Ksh and equity volume recovered rather strongly by 67.9% to 24.625m units.

The banking sector ended up accounting for 80.15% of this volume with KCB Group recording deals for 13.169m units.

Even though, erstwhile market pacesetter volume wise, placed 2nd with deals for 5.074m units, it was the shoulders applied to the wheel by banks like Equity Group Holdings and Stanbic Holdings that really gave the shove to traded volume and value.

Equity Group had deals for 2.603m units while Stanbic accounted for 1.077m shares. The rest of the market with deals for less than 1m units each was led by yet another bank, Cooperative Bank with deals for 590,700 units.

It was a day all indicators except number of deals closed positive. All shares index rose by 0.83% to 134.56; and traded value more than doubled to 746.432m Ksh.


Comments

Post a Comment

Popular posts from this blog

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

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

DEC 20, 2018: UP, DOWN? CHECK ! AT NIGERIAN STOCK EXCHANGE

With one day more to end of the trading week, the All Share Index at the Nigerian Stock Exchange on Thursday confirmed a new up today, down tomorrow trend. The ASI closed at 30,802.90, up 0.32% after Wednesday's 0.35% decrease. Earlier, on December 13, the same trend was punctuated when the ASI closed 0.24% down instead of up. Since the trend resumed and got confirmed on Thursday as it rose by 0.32% on the back of 17 gains and 22 price drops. Seplat Petroleum jumped by N37.8 or 6.81% per share to lead the gainers as found and closed at N593 per share compared to N555.2 previously. It however recorded only 6 deals for 0.146m shares worth N87.106m. Also very much part of the critical pressure on ASI upwards, was N5 of 2.15% per share gain by Dangote Cement while witnessing 98 deals for 2.042m shares valued at N380.390m The rest gains were below N1 per share in contrast to price drops where 3 were above this borderline. Nestle Nigeria set the pace with N10 or 0.68% drop again, as it s...
Read more