WEEK 46: GIDDY FRIDAY CLOSES WEEK AT NIGERIAN STOCK MARKET

Yesterday, November 17, 2017, very active Friday trading brought week 46 to a close at the Nigerian stock exchange.

It was a day of triple offloads and combined with equally major offloads in Dangote Cement, FBN Holdings and others earlier, the week with run away traded volume and value.

Traded volume came to 2.8bn shares with Friday alone accounting for 1.82bn or 65% although the day's traded value at N6.3bn was only 11.5% of the week's N54.775bn.

This was because the Friday runaway offload was paced by low priced Sovereign Trust Insurance in which 1.58bn shares changed hands in just 8 deals worth N790m. It was both a rare offload in a rarely traded equity.

Not done, yesterday too, 71.759m shares were offloaded in Zenith bank in leading 287 deals worth 1.72bn bringing the bank's all week volume and traded value to 130.77m and  N3.15bn respectively.

Still going giddy, Diamond Bank also followed witnessed the sale of 54.2m shares same yesterday in 74 deals worth 59.65m  without bringing the bank to the top five in both volume and traded value for the week.

Then finally, another rarely traded insurance equity, AIICO, closed the day with 22 deals involving 27.46m shares worth N15.09m.

Yet it did matter too that blue chip of a kind, Nigerian Breweries, also witnessed 4th placed 133 deals for 12.42n shares worth N1.72bn thus driving NB to 2nd place in traded value of N12.7bn for the week involving 5th placed 91.39m shares and 4th ranked 859 deals.

But it was FBN Holdings that trailed Sovereign Trust Insurance in week 46's volume terms  and paced the market in number of deals.

FBN Holdings recorded only 2nd ranked 269 deals for 11.57m shares worth N78.16m on yesterday, giddy Friday but given earlier trading days offload and leading investors interest, it paced the market for the week with 1935 deals involving 205.8m units worth 6th ranked N1.45bn.

Of course, Dangote Cement offload of 128m shares earlier in the week could not take beyond 131.27m shares traded within the week or 3rd ranked by volume but it did paced the market in traded value with unbeatable N27.6bn  from only a total of 186 deals.

GTB also made a mark in week 46 ending with 3rd ranked 1255 deals for 6th placed 38.74m shares worth 5th N1.64bn with yesterday chipping in 192 deals for 13.33m shares worth N573.2m.

So did Guinness especially in traded value terms placing fourth on the week's chart with N1.867bn involving 7th placed 18.47m shares in 368 deals. 

Based on closing Friday prices there were 20 gainers and 43 price drops within week 46 with 11 PLC, aka Mobil Nigeria, topping gains with N5 per share followed by Forte Oil with N4.52 per share and losers being paced by mighty Nestle with N38.99 drop per share with Nigerian Breweries trailing with N5.10 per share.

Nestlé would have ended the week much lower but for the N1.03 or 0.08% rally it witnessed yesterday, giddy Friday as Unilever paced 28 gainers for the day with N1.40 or 3.88% gain per share.

Unilever closed Thursday at N36.1 per share, opened at N37.9 then eased a little to close at N37.5, still up on previous day's.

In % terms though, C & I Leasing led with 9.09% or N0.12 per share gain as it opened at N1.38; then hit day high and close of N1.44 per share.

Veteran conglomerate, UACN, on the other led 14 % price drops on giddy Friday with 8.99% or N1.7 per share decline as it opened at N18.1 per share then closed at N17.2 compared to N18.9 per share the previous day.

In Naira terms though, Beta Glass led the price drops with N2.70 per share or 2nd placed 5%.

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