JUNE 14, 2018: INDICES DOWN IN NIGERIAN, NAIROBI, GHANA SEs

Both traded volume  and Indices went down at all three presently monitored  stock exchanges in Africa but for the Nigerian  Stock  Exchange,  All share index drop was most likely  against  market mood.

NIGERIAN STOCK EXCHANGE:

BULLISH BUT ASI DOWN?

It appears the mood at the Nigerian  Stock  Exchange  was more bullish than bearish on Thursday  June  14 2018 but the All share index went down  instead  by 0.27% or 103.7 points to 38928.02.

Pointing to more bullish mood was the fact that 28 price gains were recorded  way ahead of 17 drops for the day.

But then because  the ASI is a weighted index tied to market capitalisation, low margin price changes have less impact especially  when low priced equities are involved.

In this case,  only Okomu Oil gained above N1 per  share at the end of the day  as against three amongst the price losers.

Okomu Oil closed up by N8.4 or 10.24% as it witnessed 37 deals involving  0.259m shares valued at  N23.4m.

It was followed  by NASCON Industries  from a distance with N0.95 or 4.13% per share  rise in the wake of 77 deals for 2.42m shares worth N57.67m.

On the other  hand,  Seplat  Petroleum  led price drops with N14.1 or 1.83% per share  decline as it found and closed at N754.9 per share compared  to N769 previously while recording  just 5 deals for 0.02m shares worth N15.44m.

Nigerian Breweries  that paced Wednesday 's price drops with N2.1 per share  again lost N5 or 4.35% per share to trail Seplat as it recorded 172 deals for 6.76m units valued at N752.78m.

Also Presco lost N1.7 or 2.31% per share  while 0.211m of its shares were traded in 18 deals worth N15.26m.

Traded volume  dropped to 336.61m from 456.49m shares previously  but number  of deals rose to 3667 from 3517 and traded value  closed at N5.245bn compared to N4.12bn on Wednesday.

Perhaps  because  of the recent notice of resignation  by its group CEO, Ms Toyin Sanni, offload in United Capital  continued this time with 101.62m shares being sold in 58 deals worth  N327.69m.

UBA too witnessed top trade with 66.1m of its shares going for N720.79m in 124 deals.

NAIROBI SECURITIES EXCHANGE:

DOWN IN STEP

At the Nairobi  Securities  Exchange  on Thursday  June 14. 2018, the drop in the All share index  by 0.02points to178.19 was very much in step with market mood  which was not that decidedly bearish.

There were 20 price gains and 16 drops and margins of change were about same on both sides of the divide.

Jubilee  Holdings reversed recent consistent  price drops with Ksh 5 per share  gain to pace uplifts which included Ksh 1 per  share top up by Sasini and Regards in the Agricultural sector and Commercial and Allied's Nation Media.

On the other hand,  Kapchorua Tea also in the agricultural  sector and TPS Eastern in the commercial  and allied led price drops  with Ksh 3 per share  decline  each.

While Kapchorua simply found and closed at Ksh 65 per share  as against  Ksh 68 previously, TPS hit a high of Ksh 34.75 and low of Ksh 31.50 before closing  at Ksh31.75 per share.

Trading recovered strongly as traded volume rose to 41.2m shares from 19.35m shares, traded value  closed at Ksh 1.316bn from Ksh 565.44m although  number of deals dropped to 1275 from 1447.

Safaricom recorded deals for 22.89m shares,  almost 50% of the total 47.7m of its shares that changed hands within the 4 day trading week at between  Ksh 29.50 and 30.50 per share  valued at Ksh 1.4bn.

The banks closed with Ksh 977m traded value that is 29.96% of the 4-day market traded value.

Equity Group paced the sector through the week with deals for 12.7m shares worth Ksh 627m with Thursday  deals accounting for 4.356m.

East African Breweries  recorded above 50% of its 4-day traded volume  on Thursday  June 14 as it witnessed  deals for 1.08m shares out of the 2.1m shares worth Ksh 479m traded.

At the bond market,  4-day traded value of Ksh 16.8bn was almost at par with Ksh 17bn the previous  5-day  week.

GHANA STOCK EXCHANGE:

VOLUME AND INDEX STILL DOWN

Again,  at the Ghana  Stock  Exchange,  only the Wednesday  June 13 2018 figures were available and they indicate further drop in the Ghana composite index by 7.23 points to 2989.41 from 2991.64 on Tuesday.

Traded volume  also eased to 144,730 shares from 170,487 units on Tuesday  and almost 2m shares on Monday.

The index decline was driven by the only price changes recorded during the day: Price drops by Fan Milk Ltd and Societe Generale Ghana

FML lost GHs0.10 per share  as it recorded  deals for 700 shares at GHs13.70 per share  while SOGEGH eased by GHs0.07 per share  while 2400 of its shares changed  hands at GHs 1.69 per share.

Top volume  was by CAL Bank as deals were struck  for 71,300 shares at GHs 1.26 per share although disparity  between closing bid and offer  prices did allow for more deals.  The closing bid was same GHs 1.26 per share  but offer  price upped slightly  to GHs 1.27 per share.

Access bank too had major volume  as deals were sealed for 64,800 shares at GHs3.40 per share  while closing on offer at slightly  higher GHs 3.90.

In all 10 companies closed with disparities between offer and bid prices shifting possibility  of more deals in then till next trading day.

Much the same way,  5equities closed on offer and 7 on bid without corresponding response  that could have led to deals.

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