APRIL 20 2017: VOLUME DROPS FURTHER AT AFRICA'S TWO NSEs

On April 20, the third day of trading after the Easter holidays, traded volume dropped further at both the Nigerian stock exchange and Nairobi Securities exchange.

NIGERIAN STOCK EXCHANGE

At the Nigerian stock exchange the drop at 40.3% to 147.8m units, was well ahead of the 38.5% decrease reported on Wednesday.

This was due mainly to any exceptional offload in any equity or more particularly, any offload in a quoted bank or finance related company as was the lifting norm for a while now.

Top volume was reported in Transnational Corporation in which 3rd placed 179 deals were sealed for 28m units after gaining N0.04 per share or 4.49% on opening price.

This was followed by Diamond Bank's 6th placed 127 deals for 24.977m shares again like Transcorp, after gaining 4.71% or N0.04 per share.

In all only four equities closed the day with deals for above 10m units each: The other two being 3rd ranked 13.8m units of FCMB sold in 74 deals ranked outside the top ten deals. FCMB also ended gaining 1.01% or 2nd highest Naira gain of N1 per share.

The other one was GTB in which 4th placed 173 deals involving 12.2m shares were recorded, again with a price gain but only 0.28% up.

There was also 11.4% drop in  number of deals with leader being FBN Holdings 204 deals for 9.81m units at price down 0.28%.

This was followed by 184 deals in fellow premium equity: Zenith bank for 3.73m shares that did not make it to the top ten by volume.

After GTB, some others also had above 100. These GTB trailers were UBA with 149 deals for equally fifth ranked 9.867m units; Diamond bank; Oando with 121 deals for 10th placed 4.53m units; Access Bank with 110 deals for 9.197m units and United Capital which had 102 deals for 3.95m shares.

Wednesday's rally in All shares index could not be sustained and so it eased by 0.19% to 25282.75 as premium index went down 0.61% in swing with drops recorded in all three equities therein including Dangote Cement (0.62% down).

Indeed, the major indices gain was Oil & gas rise by 0.48% followed by 0.06% in Main index but both could not push all shares index upwards as most other indices went down.

In spite of this, there more gainers (16) than losers. The gainers were led by African Prudential Registrars with 4.99% rise for 47 deals involving 610,442 units although in Naira this came to only N0.12 per share.

It was followed by four other equities with above 4% gains: Vitafoam up 4.74% in 16 deals for 402,685 units; Diamond bank; Transcorp and Honey well flour up 4.08% as 18 deals for 341,895 units were sealed.

In Naira terms though, Seplat Pwtroleum's N5 per share gain topped the day's list although it amounted to only 1.25% gain.

Top loser was 7up Bottling in both Naira and % terms losing 5.0% or N5.24 per share recording 13 deals for 25,293 shares.

It was trailed %-wise by six others with above 4% decrease in price. They include Okomu Oil down 4.98%; Unity Bank minus 4.92%; Ecobank down 4.9%; and NPF micro finance down 4.65%.

The last two were C & I Leasing in which recent increases were punctuated with 4.48% drop involving 52 deals for 9th ranked 5.1m units and rarely traded Avon Crowncaps in which 2 deals for 380,000 shares were sealed at a price down 4.39% or by N0.05 per share.

NAIROBI SECURITIES EXCHANGE

At Nairobi Srcurities exchage, the traded volume drop was in the range of Wefnesday decrease. It went down by 10% to 22.8m units as against by 10.8% previously.

This was inspite of strong volume recovery in KCB Group to 9.182m traded volume compared to Wednesday's less than 1m whem it looked like recent contention for traded volume lead was a flash in the pan.

Sure, the above 12m traded volume recorded in Safari Com on Wednesday could not fly this time around but a wholesome 8.635m sold units were recorded.

In other words, between the two contending volume leaders, they accounted for about 17.8m or roughly 78% of the day's traded volume.

Thus, it was most other equities that contributed far lesd this time arounf lesding to further drop from a low.

Yes, even this deduction too had an exception to the rule: Cooperative Bank. On Wednesday, deals for less than 500,000 units were sealed in Cooperative Bank but on Thursday, April 20, traded volume it recorded was 1.56m.

In the end though, not only traded volume dropped on April 20. The All shares index eased by 0.02% to 133.78 after yesterday's rally and alongside same drop in market capitalisation.

Traded value also went down but very marginal 0.1% to 717.8m Ksh from Wednesday's 718.55m Ksh.

However, total number of deals closed the day at 1102,up 4.36% on Wednesday's 1056.

Comments

Post a Comment

Popular posts from this blog

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

KENYA AUCTIONS Ksh 13.84bn Treasury Bonds.

The Central Bank of Kenya (CBK) will from Tuesday December 18 to 27th 2018_ auction Ksh 13.84bn worth of fixed income Treasury Bonds with issue date December 17, 2018. According to official statement from the Director of Financial Markets Irene Njiru on Monday December 17, auction will continue throughout the stated period or close once the target money to be raised is reached, whichever comes first. Bid value will be paid for at most by 2pm December 31, 2018 while auction results will be made public on December 28, 2018 after the scheduled closing date. The bonds are being issued at 12.502% fixed interest at an adjusted average price of Ksh 100.468 for Ksh 100 bond. However, price payable after auction results publication will be average of successful bid prices based and allotment will be on first come first served basis. Meanwhile, the monetary operations and debt management department has released the interest payment schedule for 13 Treasury Bonds due January and February 2019. Th...
Read more

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