JUNE 22 2017: STILL BEARISH NOT AT NAIROBI

On Thursday June 22 2017, it was once again bearish at the Nigerian stock market but not so at Nairobi securities exchange.

NIGERIAN STOCK EXCHANGE

At the Nigerian stock market, the All shares index (ASI) closed down for the second day by 1.64% to 32,928.44 after Wednesday:s more pronounced decrease.

This time around bears left a trail of 45 price drops 10 of were above 4%. The leading % price drop was recorded in May & Baker down 9.62% or by N0.53 per share. It recorded 51 deals for 0.779m shares worth N3.88m.

Transcorp followed with 9.52% decrease or by N0.16 per share and witnessed 137 deals fpr 3rd ranked 60.3m shares worth N91.7m.

Three other major % price drops were by Wema bank (down 8.96% or N0.06 per share); Ecobank with 8.47% decrease or by N1.23 per share and Diamond bank which lost 8.2% or N0.10 per share.

Of the trio, only Diamond bank featured in top of any activity indicator. It witnessed 8th ranked 199 deals for 2nd placed 70.288m shares valued at N96.18m.

Top Naira price decline was by Nigerian Breweries down N7.97 per share or 4.80% accompanied with 121 deals for 1.25m units worth 8th ranked N206.2m followed by Okomu oil which dropped by N3.40 per share or 4.99%.

The gainers, just 14 of them, were led by another trio of double digit % top ups. Con oil, still helped by dividend in the works, topped the heap with 10.24% gain or equally day high N4.14 per share. It recorded 7th ranked 205 deals for 2.7m shares worth 9th N120.2m.

Ashaka cement closed up by 10.16% or 2nd highest N1.50 per share and Berger paints gained N0.65 per share or 10.05%.

Other major gainers were Neimeth International, up 9.52% or N0.08 per share and Livestock feeds which closed 9.09% up or by N0.09 per share.

Traded volume rose by 0.2% to 509.76m with UBA pacing with 5th ranked 290 deals for 88.9m offload worth 2nd placed N776.2m.

It was followed by Diamond bank, Transcorp then FBN Holdings with top 475 deals for 4th 58.6m shares worth 4th N357.15m and Zenith bank in which 57.52m shares worth leading N1,201.3m changed hands in 2nd ranked 392 deals.

Traded value however dropped by 21.3% to N5.03bn with Zenith's lead followed by UBA; then Nestle, though closing firm, recorded 43 deals for 0.537m units worth 3rd ranked N484.2m.

In terms of number of deals, FBN Holdings lead was followed by Zenith then Access bank with 3rd ranked 275 deals for 7th placed 25.58m worth N234.6m (also 7th by traded value).

NAIROBI SECURITIES EXCHANGE:

At the Nairobi stock market it was thumbs up Thursday all the way as All shares index closed 0.73% up at 154.35; number of deals recovered by 51.9% to 1390; traded volume rose by 29.5% to 37.53m shares and traded value clocked 863.7m Kshillings, up 21.8%.

The banking sector dominated both volume and traded value. It contributed 63.6% or 549m Ksh to traded value as deals were struck in all 11 equities quoted therein.

In terms of volume, Cooperative bank led its sector and the market with deals for 8.393m units worth 142m Ksh but Equity group chipprd in more traded value as deals in it were recorded for 5.179m shares were signed at between 37.25 and 38.50 Ksh worth 194m K sh or 22.5% of traded value for the week.

Much the same way, KCB group recorded deals for 4.42m units worth 166,m Ksh.

Safari com accounted for 133m worth of shares as they were sold at between 22.75 and 23.50.

Five other equities recorded deals for above 1m units and the most unique was the deals for 1.2m shares in the Nairobi securities exchange worth 20m Ksh. Nothing near that was recorded on the NSE in recent past.

Home Afrika had deals for 2.966m units in the investment sector but the sector's main traded value was from deals for 969,000 units in Centum investment  at stable 43.25 Ksh per share worth 41.9m Ksh.

Britam too in the insurance sector witnessed deals for 2.168m units and ended up accounting for 28.8m Ksh out of the sector's total 39m Ksh although therein too, CIC Insurance recorded deals for 1.383m shares.

Then in the manufacturing and allied sector, Mumias sugar, as usual provided the volume with deals for 1.69m units but high priced brought in more shillings this time with deals for 211,700 units worth 56m Ksh while closing 12 Shillings down.

The bond market still remained dull with traded volume closing at 2.09bn Shillings in 38 deals, down considerably from 63 deals on Wednesday.

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