FEB 26, 2018: PETROLEUM BEARISH AT NIGERIAN STOCK EXCHANGE?

As the newly introduced Corporate Governance index proved once again to be a better indicator of the All share index direction, investors seemed to be bearish about petroleum equities.

The All share index edged upwards once again by 0.02% to 42,589.48 as the CG index closed at 1719.80 up 0.19% even as premium and industrial indices dropped.

But more noticeable was the fact that top Naira drops were recorded in petroleum related equities. Seplat Petroleum, involved in crude production, lost N13.70 or 2% per share to pace the day's price drops.

It was an easy slip for Seplat as it opened and closed at N671.40 per share compared to N685.10 earlier on Friday.

This occurred as it recorded just 7 deals for 0.023m shares worth N22.36m.

Total Nigeria, involved in petroleum products sale, trailed with N11 or 4.82%  drop as 112 deals for 0.34m shares worth N7.14m.

In addition, 11 PLC, formerly known as Mobil oil, with core business in petroleum products, declined by N9.50 or 5% per share while recording 24 deals for 0.117m shares worth N21.75m.

However, top % drop was recorded by Courtville Business Solutions as it went down 6.25% or N0.02 per share.

The 26 gainers closed up with far less Naira per share. International Breweries led with N2.85 or 5% per share while recording 12 deals for 0.226m shares worth N13.49m.

For International Breweries, it was an easy shift as it opened and closed at N58.85 per share after closing last Friday at N57.0 per share.

Next to it was PZ Cussons up N1.15 or same 5% per share  to record 23 deals for 0.113m shares worth N2.72m.

But in % terms, Japaul Oil & Maritime rose by 9.52% or N0.04 per share to lead for the day and witness 64 deals involving 9.399m shares worth N4.25m

Unity Bank closed almost in step with 9.40% or N0.14 per share as 8 deals were struck for 0.442m shares worth N0.719m.

The market was far more active than it was on Friday. Traded volume rose to 384.86m from 236.88m shares; traded value came to N5.473bn and number of deals closed at 4774 compared to 3618 last Friday.

Top trade was recorded in Cement Company of Northern Nigeria as 134.85m shares were offloaded in 24 deals worth leading N2.25bn while closing firm at N16.85 per share.


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