ASI RALLY BUT ACTIVITIES DIFFER AT AFRICAN TWO NSEs

Compared to yesterday when the All shares indices eased in both African NSEs, today April 19 closed with ASI rally although activity indicators went in opposite directions between the markets.

NIGERIAN STOCK EXCHANGE

At the Nigerian stock ASI easily rose by 0.49% to 25331.77 as most of the 13 losers were lightweight, Dangote Cement did not counter premium index rise this time around and traded volume grew.

The main trust for the rally, though came from the banking sector where 5 out of 7 recorded gains as Diamond bank led the sector to pace volume.

In the end, banking index rose rather strongly by 3.93% to 270.91 followed by 1.11% rally in pension index to 824.23.

There we're 15  gainers led, in terms of % by Transcorp which closed 8.54% up with 2nd placed 216 deals for 3rd ranked 28.384m units.

This however, represented N0.17 per share gain, no where near Nestlé's leading and ASI tilting N21.93 per share gain or 3.01% for 23 deals involving only 24,960 shares.

Three other equities gained above 4%: FBN Holdings up 7.74% or N0.26 per share accompanied by day high 340 deals ( a scramble of sorts) involving 4th ranked 21.933m unuts; and Diamond bank in which top 57m shares were offloaded in 7th placed 121 deals at price up 4.94% up.

The third in this exclusive list was PZ Cussons which ended trading up 4.57% and recorded 39 deals for 276,389 units.

Of the 13 losers, only 3 went down above 4%: Honeywell Flour down 9.26%  as 19 deals for 484220 units were sealed; Okomu oil down 5.01% or by leading N2.63 per share and Livestock feeds which went down 4.92%.

Volume closed Wednesday up by 26.4% at 322.2m shares as Zenith bank followed Diamond bank lead with 3rd ranked 211 deals for 33.58m units.

In all, 6 equities ended with deals for above 10m units. Aside from Diamond bank ; Zenith bank Transcorp and FBN Holdings others include FCMB with 76 deals for 16.446m units and Fidelity bank with 9th placed 88 deals for 11.137m shares.

Number of deals was up too but by 1.86% to 2907.

NAIROBI SECURITIES EXCHANGE

At the Nairobi Securities exchange, ASI was up too after yesterday's drop in days. It rose by 0.23% to 133.81 but unlike for the Nigerian market, it occurred as both traded value and volume went down.

Also the banks did not set the pace,Safari Com came back on the with deaks for 12.7m or 50.1% of the day's 25.4m units total volume.

In value terms though, because Safari Com traded at between 19.05 and 19.30 Ksh, the traded value came to 244m Ksh or only 34.02% of the day's 718.55m.

But even this solo contribution was still slightly ahead of the 33.43% cintrubuted by the banks to total value.

The bulk of the banking share of traded value came was through Stanbic Holdings 172m value involving 2.975m shares traded at between 58 and 62 Ksh per share.

Equity Group Holdings had deals for 1.055m units at 32.75 opening price resulting in 34.5m Ksh contribution to traded value.

However, in traded volume it was Energy and Petroleum sector's Kenol Kobil that followed Safari com lead with deals for 5.18m shares but at between 12.50 and 12.80 per share amounting to 64m Ksh.

However, all four equities were the only ones with deals for above 1m each today April 19.

Particularly yesterday's leader, KCB Group only recorded deals for 317,400 units this time around worth 10.5m.ksh.

Traded value at the bond segment of the market dropped marginally by 2.16% to 1346.3m Ksh but activity was recorded in sell or buy back resulting in 300m value especially in deals involving re opened fixed income government 10 year treasury bonds issued in June and November 2012.

In all traded equity value dropped by 15%; traded volume decreased by 10.8% but number of deals rose by 6.45% to 1056 despite the volume drop.

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