April 24: BULLISH NIGERIAN SE, VALUE DOWN AT NAIROBI.

It was clearly a bullish Monday  April 24 at the Nigerian stock exchange but not quite so at Nairobi securities exchange even though All shares index also ended up.

NIGERIAN STOCK EXCHANGE

At the Nigerian stock exchange, All shares index closed rather strongly today by 2.21% to 25747.05 as combined leaps in industrial, premium and banking indices were recorded.

The industrial index closed 6.3% up at 1732.58 followed by 3.4% and 3.01% respectively in Premium and industrial indices to 1651.78 and 276.18 as all premium equities gained including Dangote Cement; as cluster of bank gains occurred and as Nestle turned to be the one major loser weighty enough to pull in the opposite direction.

The industrial index lead leap was inevitable as La Farge Africa led % gains with 10.24% but lagged behind Dangote Cement in terms of Naira which gained N6 per share as against N4.71 per share.

Adding to the shove in industrial index was 7up Bottling's N4 per share gain which amounted to 4.45%.

There were 18 gainers with 7 rising by above 4%. Out of this 7, five were banks which, when added to five other gainers in that sector accounted for the banking index leap as well.

Diamond Bank closed 5.56% up; Stanbic IBTC gained 4.98%; Ecobank closed 4.93% up; and UBA rallied by 4.25%.

Of the 11 losers Nestle was the distant leader in Naira terms losing N38.8 per share or 4.9% of opening price. But in % terms, NASCON and Allied had the leading 4.91% drop although it came to only N0.38 per share.

Other above 4% losers were Jaiz Bank down 4.55%;NPF Microfinance down 4.27%; and Fidson Healthcare which lost 4%.

Traded volume continued with last Friday's recovery by closing at 211.757m units; up by 23.4% and number of deals too increased by 7.31% to 3054.

Top of traded volume was the 5th ranked 168 deals recorded in Diamond bank for 49.978m units followed by Transcorp's 4th placed 186 deals involving 34.696m shares and Fidelity Bank's 28.47m units that changed hands in 92 deals.

Zenith bank was the other equity in which deals for above 20m units were sealed. In its case, day high 431 deals were sealed for 4th placed 26.57m shares.

Its leading number of deals was trailed by FBN Holdings with 259 deals for 6th placed 9.13m units and GTN's 228deals for 8th placed 7.033m shares.

NAIROBI SECURITIES EXCHANGE

At Nairobi Securities Exchange, all share index rose less strongly by 0.11% to 133.65 after Friday drop and traded volume increased by 20.7% but traded value went down 4.17% apparently because most shares traded were of middle and low end prices.

Traded volume increased to 10.8m but not because Safari Com or KCB Group recorded great leaps but more because unlike on Friday, more equities traded above 1m.

Leading the pack still was the 2.822m traded in Safari Com but because it lost 5 Kenyan cents to 19.5, its top volume could contribute only 53.9m Ksh or some 17.3% to traded value.

Even its closed by volume contribution, Barclay's Bank with 2.235m  contributed less to traded value because its price per share was 8ksh and total value of the 2nd ranked traded volume came to only 17.8m Ksh.

But the banking sector to which it belongs did end up contributing 40.59% to the traded value as KCB group recorded deals fir 4th placed 1.319m units at between 34.25 and 34.75 ksh per share and Stanbic Holdings chipped in 723,500 units at 58 ksh per share.

Construction and allied ended up being responsible for 17.78% of the day's traded value principally as 1.834m shares ij ARM Cement changed hands at between 22.50 and 24.50 Ksh per share.

One other major contributor was Manufacturing and Allied sector's East African Breweries in which deals for 279800 units were sealed at 240 Ksh per unit thus helping its sector to chip in 67m Ksh or 21.77%.

At the bond market, traded value rose by 35.9% to 1390.066m Ksh with much of that being recorded in fixed income bond of above 50m Ksh nominal value.

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