SEPT. 5, 2017: RECORD SCRAMBLE FOR STERLING BANK AT NIGERIAN SE

Today September 5, 2017 after the long sallah holidays, the Nigerian srock exchange resumed trading with  Sterling Bank closing with  a record 1164 deals for just 11.277m units  worth N11.53m.

Scramble for Sterling bank had been a constant feature at the market but this time, it crossed the 1000 mark for deals recorded in one day. The closest to this was on July 6 when 12.12m units were sold in day high 789 deals.

On June 14 this year it also topped number of deals with 719 deals involving 15.588m shares and also  on the 24th of May when it recorded 569 deals for 13.8m shares.

Indeed, in view of rather consistent scramble, it topped deals on July 11, with 588 deals for 10.22m shares; on June 19 with 503 deals for 10.235m units; on July 7, with 365 deals for 15.26m shares and on July 19, with 311 deals involving 10.36m shares.

The lowest number of deals it had recorded in recent months each time a sale occurred was on July 27, this year when only 50 deals were recorded for 10.8m units. Most of the time, deals involving Sterling bank on any day it was  traded was above 100 and mostly within the day's top 10 deals.

Most of the time, this was with very marginal gains or losses in price per share and so, Sterling bank robs no shoulders with other quoted companies when it comes to traded value; traded volume or highest or lowest priced equities at the market.

With total number of deals closing at 4188, up 85.1%, Sterling bank alone thus accounted for 27.8%.  From a far distance, Zenith railed it with 284 deals for 17.84m units worth N413.63m followed by FBN Holdings with 233 deals for 14.8m shares worth N85.41m and Access bank with 216 deals for day high 63.28m offload worth N606.858m.

However, traded volume closed down by 13.5% to 230m shares although traded value rose by 18.3% to N4.774bn.

Traded value growth was driven principally  by Nigerian Breweries with 88 deals involving 6.04m units worth N1.088bn followed by Nestle Nigeria with N640.65m traded value from 40 deals through which 0.525m shares changed hands/

Access bank's lead volume was followed by UBA with 174 deals for 27.6m shares worth N246.89m, Zenith and FBN then Stanbic IBTC with 32 deals for 12.963m shares worth N498.59m.

There were 21 price gains and 24 drops with the losers having the upper hand over the All shares index as it dropped by 2.84% to 35,403.92.

C & I leasing and NEM insurance led % gainers with 5% as both equities gained N0.05 to close at N1.05 per share. However, C & I leasing had opened the day at N1.00 per share it closed Thursday, hit a bottom of N0.95 then climbed to day high of N1.05 per share to c;lose the day.

On the other hand, NEM opened at N0.95, that is down from its Thursday N1.00, hit a low of N0.97 then closed at day high of N1.05 per share.

Guinness led Naira gain with N3.77 or 4.99% per share followed by Mobil Oil, running against its downward trend before the holidays, with N2.39 per share gain or 1.45%.

The price losers were led by Seplat Petroleum in both Naira and % terms.  Seplat had closed previous trading day at N490.5 per share then opened today at N465,98 and never recovered. So it dropped N24.52 per share to record 4 deals for 0.022m shares worth N10.6m

Much the same way, Total Nigeria closed previous trading at N245 per share, opened the day at N233 and closed firm there thus losing N12 per share to trail Seplat in Naira terms.

Comments

Post a Comment

Popular posts from this blog

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

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

DEC 20, 2018: UP, DOWN? CHECK ! AT NIGERIAN STOCK EXCHANGE

With one day more to end of the trading week, the All Share Index at the Nigerian Stock Exchange on Thursday confirmed a new up today, down tomorrow trend. The ASI closed at 30,802.90, up 0.32% after Wednesday's 0.35% decrease. Earlier, on December 13, the same trend was punctuated when the ASI closed 0.24% down instead of up. Since the trend resumed and got confirmed on Thursday as it rose by 0.32% on the back of 17 gains and 22 price drops. Seplat Petroleum jumped by N37.8 or 6.81% per share to lead the gainers as found and closed at N593 per share compared to N555.2 previously. It however recorded only 6 deals for 0.146m shares worth N87.106m. Also very much part of the critical pressure on ASI upwards, was N5 of 2.15% per share gain by Dangote Cement while witnessing 98 deals for 2.042m shares valued at N380.390m The rest gains were below N1 per share in contrast to price drops where 3 were above this borderline. Nestle Nigeria set the pace with N10 or 0.68% drop again, as it s...
Read more