APRIL 18: ALL SHARES INDICES TUMBLE APACE AT AFRICA's TWO NSEs.

Trading closed at the two African NSEs Nigerian stock exchange and Nairobi securities exchange with All shares indices tumbling apace sort as Dangote Cement (Nigerian) and KCB Group ( Nairobi) flexed muscles.

NIGERIAN STOCK EXCHANGE

At the Nigerian stock exchange FBN Holdings had led % gainers with 5% lift for day high 236 deals for 3rd placed 20.66m units.

Fellow premium heavyweight, Zenith bank had also gained 0.56% for 2nd placed 221 deals involving 10.85m shares.

But both gains were not weighty enough to sway premium index into increase. Instead, the index went down 1.78% because Dangote Cement, the only other equity in the premium segment, dropped by 2.44% to record 24 deals for 524,537 shares.

Indeed, aided by 17 other losers led by Fidelity bank down 9.09% and helped greatly by Nestle losing N21.93 per share or 2.92%, eventually All shares index dropped by 1.19% to 25207.03 after last thursday's rally.

Among the other equities that helped ASI down were Ecobank Transnational down 5% with 7th placed 141 deals for 4.52m units; Eterna oil down 4.98% amidst 6 deals for 177,484 shares and Union Bank which dropped 4.96% and recorded 61 deals for 6.119m units.

Also noteworthy was Oando's 4.83%decrease accompanied by 82 deals for 1.289m shares; Livestock Feeds, down 4.69% for 11 deals involving 465127 units and Vitafoam which closed 4.50% down with 25 deals for 320,811 units.

Apart from FBN Holdings, only two other equities closed with above 4% gains: C & I Leasing up 4.69% as part recent runs and with 31 deals for 1.829m units and Dangote Flour up 4.27% .

As a matter of fact only oil and gas and ASEM indices ended up at the end of the day. For ASEM once again McNichols solely increased the index by 0.06% as it recorded a deal for 9th placed 8.87m units at N1.35 per share, up 1.50%.

In the end, it turned out only number of deals increased by 0.99% to 2854 as volume traded dropped by 27% to 254.959m units.

Day high volume was traded in Diamond bank as 51.8m shares changed hands in 4th placed 168 deals followed by GTB's 40.881m units involving 5th placed 162 deals before UBA trailed FBN Holdings with 3rd placed 200 deals for 20.19m shares.

Fidelity bank was amongst the top six with above 12m traded volume. Its traded volume was 19.1m to place 5th while rarely traded GlaxoSmithKline recorded 14 deals without price change for 12.56m shares to place 6th.

NAIROBI SECURITIES EXCHANGE

At the Nairobi securities exchange. KCB Group show of strength was in traded value. As day high traded volume of 11.499m shares changed hands at prices between ,33 and 34.5 Ksh per share, it ended up with 379m traded value or 44.8% of total value for the day.

It actually ended up leading the banking sector to contribute 71.7% to the total traded value.

That did not stop All shares index from dropping by 1.17% for the first in recent days, to 133.50 neither did it stop traded value from going down 54.1% to 846m Ksh from last trading day's above 1.3bn Ksh.

Volume also decreased significantly by 68.1% to 28.495m shares despite the KCB Group 40.4% contribution.

This too was despite deals for 6.676m units recorded in Kenol Kobil in the energy and petroleum sector at 84m ksh traded value as the shares were sold at between 12.60 and 12.70 per share.

Three other equities recorded above 1m traded volume each: Equity Group; Stanbic Holdings and Safari Com.

In Equity Group Holdings deals were sealed for 3.288m units at between 33.50 and 31.50 per share for a final traded value of 107m ksh.

Stanbic Holdings, on the other, though posting the same 107m traded value had deals involving 1.851m shares as the price closed at 58 Ksh per share.

Safari Com did not set the pace today as it recorded deals for only 1.82m shares and ended down 2.29% per share leading to only 34.9m traded value.

The bond market recovered strongly from last trading day's low point. Traded value came to 1376.1m Ksh as against only 335m previously. The bulk of the value was in fixed income above 50m ksh but significant number of deals too were in below 50m Ksh nominal value.

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