April 26: WEIGHT PULL AT NIGERIAN SE; EASING AT NAIROBI

At the Nigerian stock exchange today Wednesday April 26, it was weight pulling of sorts as Dangote Cement dragged All shares index down despite an active day and at Nairobi it was gentle easing after super Tuesday.

NIGERIAN STOCK EXCHANGE

At the Nigerian stock exchange, the ASI ended 0.77% down at 25620.94 after yesterday's 0.28% rally as pulled by 2.93% drop in premium index to 1600.56 and 1.17% decrease in industrial index to 1717.26.

This was in spite of the fact that gainers (24 in all) outnumbered losers above 2:1 as losers were only 10.

It was also 1.18% rise in oil and gas index; 0.56% increase in main board index amidst price gains by banks and manufacturers like PZ Cussons, Flour Mills, Dangote Sugar and Okomu Oil.

The premium index dropped too inspite of gains by two of the three equities in this elite segment of the market alas because heavyweight Dangote Cement went down N6 per share or by 3.64% to led day Naira losers.

This occurred as it recorded 52 deals for 372,709 units at N159 per share. The impact of the shift was great because even after it, Dangote Cement still accounted for 16.31% of total market capitalisation including hardly traded government, state and corporate bonds.

Otherwise, the dominance of gainers indicated a more bullish market especially as volume more than doubled to 255.7m units altbough number of deals dropped by 10.4% to 2845.

Above 10m units volume each in 8 equities was responsible for this traded volume recovery with Transcorp leading the pack with 2nd ranked 218 deals for 56m units. Transcorp in the process had 2nd highest % drop of 6.45%.

A good offload was also recorded in Oando as 7th placed 126 deals were sealed for 45.4m shares accompanied lead % price gain of 6.11%.

Both were trailed from a long distance by UACN Property with 20 deals for 25.4m shares; Diamond Bank down day 8.79%  for 75 deals involving 18.17m units  and FBN Holdings  in which 4th placed 163 deals for 16.3m shares were concluded gaining 2.05% alongside.

Others with above 10m traded include GTB in 3rd ranked 189 deals for 14.7m units; UBA with 5th placed 154 deals for 14.19m shares and rarely traded Law Union & Rock insurance which had 36 deals for 10.7m units and gained 4.11% in the process.

Of the 24 gainers, the lead by Oando in % terms was followed by Stanbic IBTC with 4.98%; NEM Insurance with 4.76% and Honeywell Flour by 4.46% before Law Union & Rock.

Top Naira gain, however, was by GTB  up N5 per share or 1.23% followed by Okomu oil with N1.40 gain per share.

On the other hand, Presco followed Dangote Cement's lead Naira loss with N1.40 per share which also came to minus 3.64%.

NAIROBI SECURITIES EXCHANGE

At Nairobi Securities Exchange any expectations of a major crash in all indicators from heights attained super Tuesday turned out to be out of place as there was gentle easing all round.

From the Tuesday heights, traded volume in equity eased by 23.1% to 24.3m; traded value decreased by oonly 8.71% to 788.3m Ksh and number of deals came to 1006, down 10.7%.

At the ever active bond market too, it was also gentle easing from Tuesday's 3331m Ksh to 3006m Ksh in traded value.

The banking sector paced both equity traded volume and value with KCB Group back in the lead on both accounts as deals were recorded for 8.497m units were sealed at between 31.50 and 33 Ksh per share for a traded value of 273m Ksh.

Thus banks ended cobtributing 51.5% or 405m Ksh to traded value as deals were clinched in all 11 banks with Equity Group chipping in 93m ksh traded value in deals at 34 ksh per share, up 2.25% and highly priced Diamond Bank recording 14.9m Ksh value for 115,500 units even though down 1 ksh per share at 124 ksh.

Manufacturing and allied sector ended with  contributing 193m Ksh or 24.5% of traded value mainly as high priced East African Breweries had deals for 765,000 units at between 235 and 240 per share and British American Tobacco Kenya gained 8.32% to 845 per share and chipped in 9.9m ksh for a fair parcel.

However, in terms of traded volume, Safari Com placed 2nd with deala for 6.2m units valued at 117m Ksh since the units were traded at between 18.85 and 19 ksh per share.

Construction and allied sector's ARM Cement was one of the other equities with deals for above 1m units. A total of its 1.359m units were sold for traded value of 32m Ksh at between 23.50 and 24.50 per share.

Britam Holdings too had deals for 1.537m units at between 9.95 and 10.30 per share for only 15m Ksh value.

Finally, the all shares index closed up 0.32% at 133.13 at the close of the day.

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