JUNE 23 2017: ALL SHARES INDEX STILL DOWN AT NIGERIAN STOCK EXCHANGE

For the third day running, the All shares index dived today, Friday, June 23, 2017 as bearish mood continued at the Nigerian stock exchange but Nairobi securities exchange continued up wards.

NIGERIAN STOCK EXCHANGE:

at the Nigerian stock exchange, even though number of equities with price drops (33) was less and that of gainers (21) more than yesterday's, the decline in ASI was stronger at 2.25% to 32,122.14 compared to 1.64% drop yesterday after Wednesday's 2.64% decrease.

The pressure downwards was mainly from industrial and premium equities as led by Dangote Cement with N9.40 per share drop or 4.59% and Nigerian Breweries with N6.13 per share or 3.88%.

The industrial index ended the day down by 4.55% to 1870.94 as Okomu Oil ( down N3.24 per share) and La Farge Africa  (down by N2.55 or 4.99%) joined Nigerian Breweries to lead drops in the sector.

As for the premium index, it dropped by 3.91% principally as Dangote cement and the two other equities on then board, Zenith bank and FBN Holdings, ended down .

All other sectoral indices dropped too except ASEM index that closed firm after two days of increase and Oil and gas index which rose marginally by 0.65% to 319.84.

UBA led % losers by going down 9.57% or by N0.88 per share followed by Wema Bank which lost N0.04 per share or 6.52% and C & I leasing down 5% or by N0.03 per share.

The gainers were clearly with low margins as Ashaka cement led Naira gains with N0.80 per share or 4.98% while Champion breweries topped the 8 with above 4% gains by rising by 9.74% or N0.26 per share.

Traded value dropped by 35.5% to N3.246bn; traded volume decreased by 18.1% to 417.56m shares but number of deals struck closed at 5456, up 2.54%.

No equity recorded deals for above N1bn this time around as Zenith recorded day high traded value of N621.84m from 4th ranked 323 deals for 5th 30.5m shares. It was followed by Access bank with 6th placed 272 deals for 2nd ranked 65.5m shares worth N593.6m and from a distance by GTB with N313.49m worth of 5th placed 279 deals for 9.199m shares despite gaining N0.16 per share or 0.47% .

Transcorp accounted for the highest volume of the day with 3rd highest 329 deals for 71.61m offload worth 8th ranked N99.35m ending with 5.92% price drop' It was followed by Access bank; then FBN Holdings, down 3.12% with day high 683 deals for 48.87m shares worth 4th ranked N287.56m.

Trailing FBN, UBA had the 2nd highest 331  deals for 6th placed 23.1m shares worth 7th N173.4m followed by Transcorp, Zenith , GTB, Access then Oando with 200 deals for 4.97 units worth N34.4m.

NAIROBI SECURITIES EXCHANGE:

At Nairobi stock market ASI went up by marginal 0.16% 154,59 thus resuming the snail speed punctuated somehow yesterday with a higher % gain but traded volume dropped by 4.21% to 35.95m units and number of deals also eased by 0.57% to 1391.

Apparently because of more deals recorded in higher priced equities, traded value however, rose by 28.5% to 1.11bn.Ksh In spite of this though, the week's traded value came to 4.7bn,Ksh down 17.5% on previous week level and the week's volume dropped by 39.7% to 170m shares.

Safaricom was back pacing volume for the day as deals for 19.26m were recorded topping its total volume traded through the week to 55.7m shares sold at between 22.54 and 23.75 ksh per share worth N1.2bn ksh or 25.5% of the week's traded value.

Only the banking sector combined to beat this . The sector accounted for 1.6bn Ksh worth of deals during the week with KCB Group witnessing deals for 16m shares, 13.4% of which or 2.148m were recorded Friday June 23. The traded value recorded in KCB for the week came to 597m Ksh  while that of Cooperative bank came to 432m Ksh with the bulk recorded before Friday which witnessed deals for only 898,700 units at between 16.70 and 17.50 per share.

Equity group too chipped in 408m Ksh within the week hitting a high of 39 Ksh and low of 36.5 Ksh per share and recording deals for 1.086m shares top up by Friday.

East African Breweries this Friday recorded deals for 1m shares and being high priced, the helped push the day's traded value for the market and the week's one too as it ended accounting for 3m shares worth 830m Ksh as they were sold at between 250 and 269 per share.

Bamburi cement did not record above 1m traded volume today but up 7.78% within the week, its Friday deals for 819,100 units boosted its week's traded value to 238m Ksh and indeed, the Construction and allied sector's final 254m Ksh contributed to traded value for the week.

The bond market closed rather quiet once again thus bringing total traded value for the week to 9.8bn Ksh compared to 10.66bn Ksh the previous week.

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