JUNE 13. 2018: NIGERIAN, NAIROBI, GHANA STOCK EXCHANGES DOWN

It was down all the way for the three African Stock  Exchanges, Nigerian,  Nairobi  and Ghana,  being monitored by Heated currently.

NIGERIAN STOCK EXCHANGE:

LOW PRICE CHANGES BUT....

Wednesday,  June 13, 2018 at the Nigerian  Stock  Exchange,  the All share index  went down once again after recent rally.

It had closed  Tuesday up 0.83% but could not sustain  that as it eased by 0.35% to 39031.72 although on both sides of the drag the margin of price change was low.

In all there were 22 price gains and 20 drops with most price changes below N1 per share.

Top gain was N1 or 3.77% per share  rise by Cement  Company  of Northern Nigeria as it opened the day at N26.45 per share then rose to close at N27.5 compared to N26.5 per share  previously.

This was as it recorded  44 deals for 0.369m shares worth N10.039m.

Nigerian  Breweries  on the other hand opened at N117.4 per share,  hit day high of N118 but couldn't  hang on and slipped to close at N115 per share,  down N2.1 or 1.79% per share  to pace price drops.

Traded volume  improved to 456.49m shares from 341.48m previously mainly offloads  were recorded  in United Bank For Africa and two major quoted companies with interesting board changes : United Capital  plc and African  Prudential  plc.

In UBA 90.61m shares were offloaded in 131 deals worth N998.2m as the bank ended down N0.15 or 1.35% per share.

United Capital, whose Group CEO signs off this month end to be replaced  by that of African Prudential,  lost N0.13 per share while recording  98 deals for 78.68m shares worth N258.34m.

Then African Prudential  witnessed N0.05 per share  decline while 72.10m of its shares were being offloaded in 67 deals valued at N312.59m

Despite the volume  growth,  however,  traded value  dropped to B4.134bn from Tuesday's N5.193bn and number of deals struck came to 3517 from 3769.

NAIROBI SECURITIES EXCHANGE:

BEARISH IN A WAY.

You could say the Nairobi  Securities  Exchange  on Wednesday  June 13 2015 was bearish because  almost twice as much price drops were recorded  when compared  to gains.

And to boot,  the All share index dropped by 0.11 points to 178.21.

There were 23 price drops and 12 gains with again margins of change hovering around the same range like for Tuesday.

Top gainer was Nation Media  in the commercial  and allied  sector, up
Ksh 3 per  share as it hit day high of Ksh 105 per share and a low of Ksh 102 before closing at Ksh 102 per share  from Tuesday's  Ksh 100.

On the other hand,  Jubilee  Holdings in the insurance  sector closed down Ksh  3 per share  as it found and closed at Ksh495 per share  compared to Ksh498 previously thus  pacing price drops.

The day's  trade was lower too with traded volume  closing at 19.354m shares compared to 34.354m on Tuesday,  number of deals coming to 1447 from 1516 and traded value  declined to Ksh 565.44m from Ksh 594.98m.

Top volume  as usual was recorded  as deals were struck for Safaricom 7.2m shares  at between  Ksh 30 and 30.50 per share  for Ksh220m or 29.94% of market total.

Other equities were active too like Equity Group  with  deals for 3.668m shares worth Ksh 181m at between  Ksh 49 and 49.50 per share, Kenya Power in which 1.29m shares changed hands for Ksh 8.6m, AEM Cement in which deals were struck for 2.09m shares and Cooperative bank, down 2.23% , with 1.2m shares going for Ksh 21m.

Car and General  Ltd in the auto sector and the agricultural sector came alive with rare activity.  Car and General recorded  deals for 13,600 units while 5 out of agriculture  equities closed with deals with Eaagads Ltd leading with a rare 72,900 shares changing hands.

Trading at the bond market slipped a bit a traded value came to Ksh4.2bn compared to Ksh5.49bn on Tuesday.

GHANA STOCK EXCHANGE

STILL DOWN

At the Ghana Stock Exchange  on Tuesday June 12, 2018. It was still  down all the way for most price changes resulting in 0.66% or 20.02 points decline in the Ghana Composite  Index  to 2991.64 from Monday's  3011.66.

There were only 6 price changes and 5 of them closed down

The line gainer was Standard Chartered  Bank Ghana  which closed GHs 0.31 up as deals for 2470 units were struck  with the last being at GHs 27 per share 

However,   SCB ended the day on bid at GHs 25 per share  while offer remained at GHs 27.

Top decline was by Total Ghana down GHs 0.22 per share while witnessing  deals for 700 of its shares at GHs 4.05 per  share.  Again,  beyond that no more deal could be struck  as closing offer stayed at GHs 4.27 per  share  compared to closing bid of GHs 4 per  share.

Other price drops include Ghana Commercial  Bank (down GHs 0.12) as deals were recorded  at GHs 5.20 per share for 10,800 units. It closed on demand though  at a higher GHs 5.25 per share, GHs 0.04 per share  drop in Ghana Oil Palm,  GHs 0.02 per share  decline in Economics Transnational Incorporated  and Societe Generale Ghana's GHs 0.01 per share  drop.

A total of 170,487 shares changed hands compared to 1.986m on Monday.  Top volume  was recorded  by CAL Bank without price change at GHs 1.26 per share  for 112,300 shares.

Some 9 companies could not close the day with more deals because  of disparity between  bid and offer prices. Apart from the ones already mentioned  earlier,  others were SIC Insurance  Co Ltd,  Starwin Products  Ltd,  Produce  Buying Co Ltd,  Fan Milk Ltd, Enterprise  Group Ltd and Benso Oil Palm Plantation  Ltd.

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