SEPT 11, 2017: INDICATORS DOWN AT NIGERIAN SE

For the second consecutive trading day, the Nigerian stock exchange main indicators trended down today Monday September 11. 2017.

The All shares index dropped by 0.81% to 35,664.94 after Friday's 0.44% easing; traded value declined by 29.5% to N2.17bn on top of Friday's 26.1% and after Friday's 31.5% decrease, traded volume closed at 114.76m, down further by 24.7%.

However, number of deals had grown by 13.7% on Friday but went down by 11.7% to 3232 today.

The ASI drop was driven by 24 price drops led by heavyweights: Nestlé Nigeria and Dangote cement. Nestlé led Naira drops with N10 per share or 0.82% per share followed by N5 per share decline by Dangote cement or 2.39%.

Okomu oil, however, led % decline with 4.92% drop or N3.10 per share. It closed Friday at N63 per share then slipped to N59.90 and recorded 42 deals for 0.649m shares worth N40.2m.

In the end, the pressure on ASI came from 1.74% drop in Premium index to 2296.90 and 1.02% drop in industrial index to 2010.87.

Once again, all week firm closing of the ASEM index was punctured today by McNichols as it dropped 4.55% or N0.06 per share to record lone deal for 0.053m units worth N66.78m.

On the other hand, 20 price gains were recorded led in % terms by Air Service, up 4.87% or N0.29 per share. It closed Friday at N5.96 per share, then  closed the day at N6.25 after hitting day low of N5.65 per share. It witnessed 13 deals for 0.558m units worth N3.354m.

The leading Naira gain was by Total Nigeria up N2.02 per share or 0.87% to record 31 deals for 0.16m shares worth N37.72m.

Traded volume was low because there were no major offloads as with 19.83m units changing hands in day high 347 deals worth N463.5m, Zenith bank paced volume for the day.

The same with traded value with none witnessing up to N1bn. Leading traded value was recorded in Nestle Nigeria with N725.56m from 59 deals for N0.599m 

Zenith's lead in number of deals was followed by FBN Holdings with 179 deals for 5.758m worth N33.62m and GTB in which 173 sealed deals involved 2.313m shares worth N87.66m.

Comments

Post a Comment

Popular posts from this blog

2018: TWO BLOWS TO UNITED CAPITAL PLC.

When a child who in a previous examination scored 80%, comes home with a new report in which he now scores 67.2%, the parents have a right to sit him down and ask how come. So it must be between Nigeria's United Capital Plc and its discerning shareholders since the release of the company's 2018 audited figures. In 2018, all said and done, says the annual report, United Capital ended with 67.2 % profit margin compared to 80.2% in 2017. How come? What comes across from the figures was that the company received 2 blows to the jugular in 2018: Sharp drops in Investment income and fair value gain. Investment income dropped by 10.8% to N4422.8m from N4965.2m while fair value on financial assets plunged by 79.7% to N6.173m from 2017's N30.387m. In view of both drops, the group's gross earnings grew by only 33.9% to N9259.4m despite strong growths in net trading income, and net operating income leap to N757.5m from N143.5m  Other income streams ended with single digit increase....
Read more

KENYA AUCTIONS Ksh 13.84bn Treasury Bonds.

The Central Bank of Kenya (CBK) will from Tuesday December 18 to 27th 2018_ auction Ksh 13.84bn worth of fixed income Treasury Bonds with issue date December 17, 2018. According to official statement from the Director of Financial Markets Irene Njiru on Monday December 17, auction will continue throughout the stated period or close once the target money to be raised is reached, whichever comes first. Bid value will be paid for at most by 2pm December 31, 2018 while auction results will be made public on December 28, 2018 after the scheduled closing date. The bonds are being issued at 12.502% fixed interest at an adjusted average price of Ksh 100.468 for Ksh 100 bond. However, price payable after auction results publication will be average of successful bid prices based and allotment will be on first come first served basis. Meanwhile, the monetary operations and debt management department has released the interest payment schedule for 13 Treasury Bonds due January and February 2019. Th...
Read more

NAIROBI SE's HIGH PRICED EQUITIES.

In the wake of Nigeria's high priced quoted companies posted in this blog a while ago, Henates took a look to at Nairobi Securities Exchange June 23 official list to identify its high priced equities and the outcome was interesting too. Of the 66 companies quoted on the market by June 23, 15 or 22.7% were valued averagely at above 30 times nominal value. A word of caution though: There are two clear differences between the Nigerian stock market list and that of Nairobi: In the Nigerian one most listed companies have par or nominal value of N0.50 as is there is an implied agreement on this. On the other hand, at Nairobi most of the equities do not share common par value, they differ greatly. Then another thing, Nigerian equities are not valued below par, Nairobi ones can and many are so valued. Of the top 15 high priced equities at the Nairobi market, Safaricom topped with because by June 23, at 23.25 Ksh average price, it was valued 465 times its nominal value of just 0.0...
Read more