JUNE 19, 2018: STILL DOWNBEAT AT NIGERIAN, NAIROBI, GHANA SEs

Perhaps reflecting worldwide scares over looming trade war, the three stock exchanges reviewed by Henates so far, were more bearish than bullish.

NIGERIAN STOCK EXCHANGE:

ALL SHARE INDEX STILL DOWN.

For the third day running, the All share index at the Nigerian stock exchange closed down this Tuesday June 19 2018 after the sallah holidays.

It ended the day at 38,664.15; down 0.68% or 263 points on Thursday's 38928.02 before the holidays declared for Friday and Monday.

This was not surprising because price gains were scarce (12 only) compared to 34 price drops including 12 banks and the margins of decline were higher too.

International Breweries, which witnessed a change of guard recently, emerged as the one with above N1 gain per share. It rose by N2.70 or 6.54% per share while 60 deals were being sealed for 3.25m shares worth N142.28m

IB had closed last Thursday at N41.3 per share, opened the day at N43.15 then closed at N44 per share.

On the other hand, 4 out of the top 5 price drops were above N1 per share. Top of the bill was Unilever Nigeria, down N2 or 3.64% per share in 29 deals for 4.16m shares valued at N229.75m as it found and closed at N53 per share.

It was followed by Forte Oil with N1.8 or 4.87% drop per share; Flour Mills down N1.6 or 4.89% and NASCON with N1.15 or 4.80% decline per share.

Of these price change pacesetters, Flour Mills recorded leading 99 deals for 1.32m units worth N41.64m.

But it was a market leader in terms of deals, traded volume and traded value.
The 16% rise in traded volume to 390.46m shares; 16.4% increase in traded value to N6.115bn and 6.05% lift in number of deals to 3889, were paced by UBA, in terms of volume and value and Zenith Bank in case of deals.

While losing N0.4 per share, there was an offload of 123m shares in UBA in 3rd ranked 240 deals worth leading N1.3bn.

In terms of volume Zenith trailed as 35.79m shares changed hands in leading 427 deals valued at 3rd ranked N919.9 m.

Other top trades include Access Bank's 107 deals for 34.82m shares worth N365m; Cement Company of Northern Nigeria's 38 deals involving 32.7m shares worth N850.3m and 23m of Guaranty Trust Bank shares dealt in 320 deals valued at N927.13m.

NAIROBI SECURITIES EXCHANGE:

CLOSE CALL BUT INDEX DOWN

It was a close call at Nairobi Securities Exchange on June 19 2018 as 20 price drops were recorded compared to 15 gains but the All share index went down 4.26 points to 173.48.

This was the highest decline in recent weeks as, in recent times, it danced around 178 while slowly going down.

Top decline was recorded by Nation Media as it recorded deals for 16,400 shares. It dropped by Ksh 7.50 per share as it closed at Ksh 95.50 per share after hitting low of Ksh 95 and a day high which the same as Monday's Ksh 103 per share.

It was trailer by  British American Tobacco as it declined by Ksh 5 per shar and Williamson Tea in the agricultural sector as it lost Ksh 3 per share after hitting its day high of Ksh 142 and low of Ksh 138 before closing at Ksh 139 per share.

More telling on the ASI however, was the Ksh 1.50 per share drop by Safaricom as it touched day high of Ksh 29.75, low of Ksh 27.75 before closing at Ksh 28.25 per share.

This was while witnessing deals for 5.655m shares at between Ksh 27.75 and 29.25 per share worth Ksh 161m.

Other major drops were accompanied with far lower volume trade.

On the gain side of the scale, lead gain was Ksh 2 per share recorded by Kapchorua Tea in the agricultural sector and Jubilee Holdings  of the insurance sector.

The day was more bearish for the banking sector as of 6 price changes only Barclay's Bank closed up and that was by Ksh 0.05 per share while Stanbic Holdings paced sector drops with Ksh0.50  per share.

At 9.32m shares, traded volume on Monday was relatively low and at 16.8m shares on Tuesday June 19, it was easy point to recover from.

Traded value also increased to Ksh 725.05m from Ksh 257.59m while number of deals ended at 1541, well ahead of Monday's 1292.

The banking sector dominated traded value with Ksh 303m or 41.8% as Equity Group paced the sector with deals for 3.97m units valued at Ksh 194m between Ksh 48.25 and 49 per share.

Other major trades include 1.888m shares of KCB Group exchanged for Ksh 92m; H F Group's 1.09m in deals worth Ksh 8.76m while closing down 1.84% and traded value boosting 1.007m shares of East African Breweries sold for Ksh 219m at between Ksh 215 and 220 per share.

GHANA STOCK EXCHANGE:

UP THEN DOWN

At the Ghana Stock Exchange,  composite index finally punctuated daily decline by closing up 0.18% on Friday June 14 2018 before resuming downwards on Monday June 18 2018 with 16.13 or 0.54% decline.

The Friday rally occurred as Enterprises Group ltd and Ecobank Transnational Incorporated closed up at higher margins than the drops recorded by 3 companies: Ghana Commercial Bank; Cal Bank and PZ Ghana.

On Monday, however, two gains and drops were recorded with margin of drop higher.   CAL Bank and Enterprises Group closed up GHc 0.01 per share each while top decline was Ecobank Ghana's GHc 0.27 per share while Societe Generale Ghana eased by GHc 0.05 per share.

On the same Monday 8 equities closed on bid without corresponding offer while 13 closed on offer without bid price. Five however ended with bid and offer prices that did not match for more deals.

Both Friday and Monday witnessed relatively high volume after 2 consecutive days of average.

On Monday in particular, 5.79m shares were traded while 1.42m were exchanged on Friday. Both figures compared well with below 200,000 shares for June 12 and 13.

CAL Bank led traded volume on the peak Monday with deals for 3.41m shares at GHc1.26 per share though closed on bid for GHc 1.25.

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