JUNE 21, 2018: REVIEW OF NIGERIAN, NAIROBI, GHANA STOCK MARKETS

NIGERIAN STOCK EXCHANGE:

INDEX DROPS FASTER

At the Nigerian Stock Exchange on Thursday June 21, 2018, the All share index switched to faster lane downwards as it dipped by 1.17% or  453.17 points while market mood was not that bearish.

In all there were 26 price drops and 24 gains yet the decline rate was way ahead of 0.15% and 0.93% decline on Wednesday and Tuesday respectively.

What really made the difference were continued sharp drop in Seplat Petroleum joined by a major N8.7 or 3.64% per share drop

Seplat lost N32.2 or 4.49% per share as it closed at N685 after hitting day high of N701 per share which on its own came from opening down on Wednesday's N717.20 per share.

This was as 37 deals were sealed  involving 0.27m shares worth N188.62m.

Dangote Cement opened the day at N231 per share then hit day low of N229 before closing at N230.30 compared to N239 per share on Wednesday.

In sharp contrast, Nigerian Breweries topped price gains with only N3 or 2.75% per share gain. NB opened at N111.70 and touched day high of N112 before easing to close at N110 per share as against N109 previously.

NB in the end witnessed 81 deals for 4.209m shares worth N466.52m and it ended with solo price increase because none else rose by above N1 per share.

Trade improved though. Traded volume closed at 271.4m compared to 267.767m shares previously; traded value increased to N4.1bn from N3.82bn but number of deals dropped to 3766 from Wednesday's 4786.

Top traded volume was FBN Holdings 37.29m shares sold in 202 deals worth N393.68m but Guaranty Trust Bank came up with leading traded value with N1.146bn worth traded in day high 335 deals involving 3rd ranked 28.43m shares.

NAIROBI SECURITIES EXCHANGE:

MINOR ALL SHARE INDEX RALLY

Without pressure from top weighted Safaricom, on June 21, 2018, the All share index at the Nairobi stock market rose marginally by 0.05 points to 170.19

This was not surprising because no price drop above Ksh 1 per share was recorded while at least two price gains: That of I&M Holdings and Standard Chartered Bank were Ksh 1 per share each.

There were 16 price gains and 15 drops with top price drop being Ksh 0.80 per share decline by WPP Scan group followed by Ksh 0.75 per share by Centum Investment and Ksh 0.50 per share by Nation Media and Unga Group.

Traded volume dropped to 26.4m shares from 27.29m but traded value increased to Ksh 864.65m compared to Ksh 853.64m the previous day.

Lead volume was once again recorded by Safaricom as it recorded deals for 11.7m shares at between Ksh 27.25 and 27.75 per share valued at Ksh 321m or 37.15% of market total.

Equity Group led the banking sector to record Ksh 366m traded volume or 42.4% of total as it closed Ksh0.25 per share and witnessed deals for 5.48m shares at between Ksh 48.25 and 49 per share worth Ksh 257m.

The energy and petroleum sector was fairly active too as Ken Kobil had deals for 1.51m shares; Kenya Power and Lighting had for 1.32m shares and Ken Gen closed with 1.244m shares changing hands.

The bond market ended the day with Ksh 2.2bn traded value.

GHANA STOCK EXCHANGE:

VOLUME MORE THAN DOUBLES AGAIN

On Thursday, June 21 2018,traded volume more than doubled for the second consecutive day after diving to a low on Tuesday.

Monday had closed with very high 5.79m shares being traded only for traded volume to crash to 107581 shares the next day.

On Wednesday, however, it rose from this low by 153% to 272,365 shares and come Thursday, a total of 755,917 shares changed hands, up by 178%.

Commanding volumes were recorded on Thursday in CAL Bank in which 305,300 units were sold at GHc 1.06 per share; Ghana Oil company with deals for 129,500 shares at GHc 4 per share, Ecobank Transnational with deals for 105900 shares at GHc 0.18 per share and Fan Milk ltd as 99,500 shares changed hands at GHc 13.70 per share.

In all nine companies recorded deals including Access Bank (for 50,000 shares); Ecobank Ghana (18,300); Ghana Commercial bank (15,000); Republic. bank (2,800) and Total Ghana with deals for 1600 units.

More shares could have been exchanged in some of them but closing bid and offer prices did not match.  In this category were CAL; EGH, ETI and GCB while others with deals closed on offer except Fan Milk on bid.

After recovering by marginal 0.04% on Wednesday, the Composite Index dropped by 35.35 points or 1.21% to 2895.88 on Thursday, June 21 2018.

Leading decline was by Tullow Oil Plc which lost GHc 2.57 per share to hit a new low of GHc 14.56 per share while 110 shares changed hands.

Ecobank Ghana also lost GHc 0.50 per share to close at GHc 8.50 per share but closing bid at GHc 7.65 did not result in more deals.

GSE TRADED VOLUME, so far this week.

18/6/2018:   5,793,485
19/6/2018:      107,581
20/6/2018:      272,365
21/6/2018:      755,917.

COMPOSITE INDEX:

18/6/2018:      2973.55
19/6/2018:      2929.99
20/6/2018:      2931.23
21/6/2018:      2895.88

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