JUNE 14,2017: OFFLOADS DRIVE NIGERIAN AND NAIROBI SEs
At both the Nigerian Nairobi stock markets today, June 14, 2017, offloads dominated although not enough to drive Nairobi volume upwards; only the Nigerian one rose by 85% to 759m shares from Tuesday's 410.2m shares.
NIGERIA STOCK EXCHANGE:
At the Nigerian stock excchange, bullish pressure punctuated recent days of drops in the j All share index as it rose by 1.38% to 33,598.20 in contrast to 0.28% drop on Tuesday. Though strong a recovery, the market was excited more by offloads in FBN Holdings; Transcorp and rarely traded LASACO insurance.
The leading volume was recorded in FBN Holdings as 106.36m shares were offloaded in 2nd highest 662 deals worth 4th placed N727.1m closing the day 5.07% up or by N0.34 per share. It was followed by Transcorp with 3rd ranked 583 deals for 99.788m shares worth 8th placed N186.99m also closing up but by 1.10% or N0.02 per share and LASACO which closed firm but recorded fairly high 184 deals for 99.753m units. Fairly high, that is, for a rarely traded equity and an Insurance one.
Thus, between them they accounted for 40.3% of the day's volume while the top 10 contributed 82.1% and all had deals for above 30m units each.
In terms of traded value, of course, pace was set by high priced equities even though not among the top three by volume. Lead value traded was recorded in Zenith Bank as 5th ranked 361 deals were sealed for equally 5th 61.1m shares worth N1,306.86m. It had closed the day 4.99% up or by N1.04 per share
Close on its trail was GTB with 7th ranked 320 deals for 10th placed 33.7m shares worth N1,1654.05m closing up by N1.68 per share or 4.98%; followed by Access bank with 4th positioned 548 deals for also 4th ranked 76.467m shares worth N767.05m ;, FBN Holdings then Ecobank which witnessed 78 deals for 9th ranked 33.769m shares worth N422.18m.
The number of deals sealed for the day came to 7357, up 19.3% on Tuesday's 6167 but as paced by Sterling bank in which only 15.588m units were on offer yet scramble resulted in day high 719 deals worth just N16.7m. It closed down N0.04 per share or by 3.60%.
It was followed by FBN Holdings; Transcorp, Access bank , Zenith bank and then UBA in which 6th ranked 329 deals were struck for 7th ranked 38.02m shares worth also 6th placed N331.36m closing 0.57% up or by N0.05 per share.
Also in the top 10 brakcet in terms of deals were Diamond bank (8th placed 251 deals for 6th ranked 39.1m shares worth N53.8m); Forte \oil ( 9th 214 deals for 1.114 units worth N61.778m) and Fidelity bank with 194 deals for 20.75m shares worth N27.6m.
There were 36 gainers as against 22 losers and ASI ended up more because margin of gains was far wider. Of the 36 gainers, 22 rose by above 4% led by three double digit gainers: May and Baker, Ashaka Cement and Unilever.
May and Baker closed 10.2% higher or by N0.35 per share to lead % gainers and recorded 96 deals for 3.64m shares worth N14.51m. It was followed by Ashaka Cement which ended the day 10.18% up or by N1.30 per share witnessing 24 deals for just 198,108 units worth N2.777m and Unilever up 10% or 2nd highest Naira gain of N3.70 per share with 43 deals for again just 213,541 units worth N8.46m.
The losers were led by International Breweries down 4.8% or by N1.44 per share; followed by Cutix down 4.62% though recording fairly rare 11 deals for just 210,000 shares worth N0.397m; 7up Bottling with 4.44% drop or day high N4.20 per share and PZ Cussons down 4% or by N0.92 per share.
NAIROBI SECURITIES EXCHANGE:
At the Nairobi stock market, 29.19m units or 69.4% of the day's 42.09m shares were offloaded in Safaricom but total volume for the day ended down 5.75% on Tuesday's 45.089m shares.
Total number of deals too dropped for the first time in days by 7.20% to 1494. Not so for traded value which, despite the volume decrease, rose by 3.65% to 966.7m Kshillings.
On this score, the fact the Safaricom was a medium priced equity and sold for between 23 and 23.75 Ksh per share, upped the worth of the transactions to 677m Ksh or truly dominant 70.07% of total traded value.
The banking sector came closest to this clear pace as together all 11 equities quoted there recorded deals worth 187m Ksh or 19.37%.
The main contributor was KCB group in which deals for 3.09m units worth 118m Ksh at between 37.75 and 39 Ksh per share. Rarely traded I&M Holdings also contributed 31m Ksh worth of deals for 308,500 units and Equity Group up 25 cents witnessed deals for 406,800 ahares worth 16m Ksh.
Aside from SafariCom and KCB, three others recorded deals for above 1m units. They were Kenya Airways traded at between 4.65 and 5.30 per share involving 2.12m shares worth 10m Ksh Mumias Sugar with deals for 2.075m shares and Home Afrika in which deals for 1.498m units were struck.
The manufacturing and allied sector contributed 6.29% to traded value mostly as deals for 232,000 units of high priced East African Breweries were sealed for 57m Ksh out of the 60m Ksh chipped in by the sector.
The bond market seems stuck at rock bottom as once again traded value dropped to 1.8bn Ksh from Tuesday's 1.9bn Ksh. Number of deals therein also dropped to 29 as against 41 on Tuesday, June 13, 2017.
NIGERIA STOCK EXCHANGE:
At the Nigerian stock excchange, bullish pressure punctuated recent days of drops in the j All share index as it rose by 1.38% to 33,598.20 in contrast to 0.28% drop on Tuesday. Though strong a recovery, the market was excited more by offloads in FBN Holdings; Transcorp and rarely traded LASACO insurance.
The leading volume was recorded in FBN Holdings as 106.36m shares were offloaded in 2nd highest 662 deals worth 4th placed N727.1m closing the day 5.07% up or by N0.34 per share. It was followed by Transcorp with 3rd ranked 583 deals for 99.788m shares worth 8th placed N186.99m also closing up but by 1.10% or N0.02 per share and LASACO which closed firm but recorded fairly high 184 deals for 99.753m units. Fairly high, that is, for a rarely traded equity and an Insurance one.
Thus, between them they accounted for 40.3% of the day's volume while the top 10 contributed 82.1% and all had deals for above 30m units each.
In terms of traded value, of course, pace was set by high priced equities even though not among the top three by volume. Lead value traded was recorded in Zenith Bank as 5th ranked 361 deals were sealed for equally 5th 61.1m shares worth N1,306.86m. It had closed the day 4.99% up or by N1.04 per share
Close on its trail was GTB with 7th ranked 320 deals for 10th placed 33.7m shares worth N1,1654.05m closing up by N1.68 per share or 4.98%; followed by Access bank with 4th positioned 548 deals for also 4th ranked 76.467m shares worth N767.05m ;, FBN Holdings then Ecobank which witnessed 78 deals for 9th ranked 33.769m shares worth N422.18m.
The number of deals sealed for the day came to 7357, up 19.3% on Tuesday's 6167 but as paced by Sterling bank in which only 15.588m units were on offer yet scramble resulted in day high 719 deals worth just N16.7m. It closed down N0.04 per share or by 3.60%.
It was followed by FBN Holdings; Transcorp, Access bank , Zenith bank and then UBA in which 6th ranked 329 deals were struck for 7th ranked 38.02m shares worth also 6th placed N331.36m closing 0.57% up or by N0.05 per share.
Also in the top 10 brakcet in terms of deals were Diamond bank (8th placed 251 deals for 6th ranked 39.1m shares worth N53.8m); Forte \oil ( 9th 214 deals for 1.114 units worth N61.778m) and Fidelity bank with 194 deals for 20.75m shares worth N27.6m.
There were 36 gainers as against 22 losers and ASI ended up more because margin of gains was far wider. Of the 36 gainers, 22 rose by above 4% led by three double digit gainers: May and Baker, Ashaka Cement and Unilever.
May and Baker closed 10.2% higher or by N0.35 per share to lead % gainers and recorded 96 deals for 3.64m shares worth N14.51m. It was followed by Ashaka Cement which ended the day 10.18% up or by N1.30 per share witnessing 24 deals for just 198,108 units worth N2.777m and Unilever up 10% or 2nd highest Naira gain of N3.70 per share with 43 deals for again just 213,541 units worth N8.46m.
The losers were led by International Breweries down 4.8% or by N1.44 per share; followed by Cutix down 4.62% though recording fairly rare 11 deals for just 210,000 shares worth N0.397m; 7up Bottling with 4.44% drop or day high N4.20 per share and PZ Cussons down 4% or by N0.92 per share.
NAIROBI SECURITIES EXCHANGE:
At the Nairobi stock market, 29.19m units or 69.4% of the day's 42.09m shares were offloaded in Safaricom but total volume for the day ended down 5.75% on Tuesday's 45.089m shares.
Total number of deals too dropped for the first time in days by 7.20% to 1494. Not so for traded value which, despite the volume decrease, rose by 3.65% to 966.7m Kshillings.
On this score, the fact the Safaricom was a medium priced equity and sold for between 23 and 23.75 Ksh per share, upped the worth of the transactions to 677m Ksh or truly dominant 70.07% of total traded value.
The banking sector came closest to this clear pace as together all 11 equities quoted there recorded deals worth 187m Ksh or 19.37%.
The main contributor was KCB group in which deals for 3.09m units worth 118m Ksh at between 37.75 and 39 Ksh per share. Rarely traded I&M Holdings also contributed 31m Ksh worth of deals for 308,500 units and Equity Group up 25 cents witnessed deals for 406,800 ahares worth 16m Ksh.
Aside from SafariCom and KCB, three others recorded deals for above 1m units. They were Kenya Airways traded at between 4.65 and 5.30 per share involving 2.12m shares worth 10m Ksh Mumias Sugar with deals for 2.075m shares and Home Afrika in which deals for 1.498m units were struck.
The manufacturing and allied sector contributed 6.29% to traded value mostly as deals for 232,000 units of high priced East African Breweries were sealed for 57m Ksh out of the 60m Ksh chipped in by the sector.
The bond market seems stuck at rock bottom as once again traded value dropped to 1.8bn Ksh from Tuesday's 1.9bn Ksh. Number of deals therein also dropped to 29 as against 41 on Tuesday, June 13, 2017.
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