JUNE 19, 2017: VOLUME CRASHES AT NAIROBI; EASES AT NIGERIAN SEs.

After top daily volume on Friday at the Nairobi securities exchange, it crashed today Monday June 19 while it continued to ease at the Nigerian stock market.

NIGERIAN STOCK EXCHANGE:

At the Nigerian stock market, traded volume started the week down by 2.18% to 482.5m shares and because more low priced equities dominated, traded value dropped by a higher 8.9% to N5.681bn but number of deals increased by 5.42% to 5771.

Rarely traded Wema Bank led traded volume perhaps for the first time ever as 62.9m shares in it were offloaded in 99 deals worth N38.369m just outside the day's top ten by value.Wema ended 7.02% up at N0.61 per share.

It was followed by usually far more active GTB up 0.76% at N36 per share with 3rd ranked 415 deals for 50.443 shares worth about N1.8bn, the only equity with above N1bn traded value.

Access bank at N10 per share recorded 5th 321 deals for 34.486m units worth also 5th ranked N344.16m. Access was closely followed by Transcorp with 7th placed 245 deals for 32.3m shares worth about N30m and Fidelity bank, down 2.26% with 8th 171 deals for 31.712m shares worth 10th placed N41m.

In terms of traded value, only GTB was a leader amongst them. GTB was trailed by Nigerian Breweries up 0.61% at N165 per share with 10th ranked 152 deals for 4.26m share worth about N703m and Dangote cement, up day high N5 per share, with 102 deals for 3.285shares worth about N689m.

The other major contributor to traded value was Ecobank, up 7.12% at N15.35 per share with 6th 247 deals 28.38m units worth N435.7m.

However, Sterling bank stole the show in terms of investor interest as reflected in deals sealed for relative units on offer. In its case, day high 503 deals were sealed for just 10.235m shares. Sterling gained 0.93% at N1.08 per share.

Then followed FBN Holdings, at 7th in terms of traded volume (27.8m shares) and value (N182m), but ranked 2nd with 439 deals. At N6.55 per share though, it was down 4.93% pointing to the possibility that stockbrokers were still holding back despite the recent interaction with FBN top executives.

There 28 price gainers and 19 losers with 14 gaining above 4% and 11 losing above the same mark.

The gainers were led by Cement Company of Northern Nigeria in % terms closing up 10.17% at N9.75 per share and recording 48 deals for 1.899m units valued at about N18.5m.

May and Baker followed gaining 9.87% or N0.45 per share with 50 deals for 3.27m shares then by a trio of International Breweries, AIICO Insurance and Skye bank with above 8% gain each.

International Breweries at N28.35 per share closed up 8.83%; AIICO gained 8.47%  at N0.64 per share and Skye bank rose by 8% to N0.61 per share recording 93 deals for 10th ranked 21.8m shares.

Dangote cement's Naira gain lead was followed by Presco up N3.61 per share or 4.99% witnessing 55 deals for 0.572m units worth about N43m.

On the other hand, the losers were led in Naira terms by Mobil oil, down N13.2% or 2nd highest 5.0% followed by CAP PLC down N3.6 per share with actually came to day high 9.52% drop per share.

NAIROBI SECURITIES EXCHANGE:

At Nairobi stock market the crash in traded volume and value was to be expected since very high marks were reached on. Friday.

Traded volume crashed by 89.2% to 15.267m shares and traded  value came to 409.15m, down heavily BT 84%. However, deals struck rose by 18.6% to 1559; in spite of the major drops.

KCB group, in the banking sector led traded volume with deals for 4.573m shares sold at between 36 and 37.75 ksh per share worth 164m Ksh thus contributing significantly to the sector's N238m traded value or dominant 58.17% of market total.

Equity group, also chipped in good measure to the sector's traded value with deals for 1.419m shares worth 54m Ksh while closing 2.56% down in price.

Safaricom recorded the 2nd highest in traded volume as deals for 3.425m units were sealed at between 23 and 23.75 Ksh per share worth 79m Ksh.

Its contribution was ten times the  7.7m Ksh traded value in the Commercial and Services sector with Kenya Air witnessing deals for 777,100 units at between 5.50 and 6.10 Ksh  worth 4.5m Ksh.

However, the 70m Ksh traded value recorded in the insurance sector was below the Safaricom figure just by a few millions and the bulk was recorded when deals for 141,700 units in Jubilee were struck for 60.7m Ksh while it closed firm.

The bond market recovered from its low in recent days with 39 deals recorded for 2.155bn Ksh value. As usual trade in fixed income of above 50m Ksh dominated but there was long ranging interest in EAB fixed medium term note worth 15m Ksh and deals for 210.6m Ksh in above 50m Ksh nominal value.

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