JUNE 25, 2018: REVIEW OF NIGERIAN, NAIROBI, GHANA STOCK MARKETS.

NIGERIAN STOCK EXCHANGE:

DANGOTE CEMENT DRIVES ALL SHARE INDEX

Price gains and drops were 21 apiece at the Nigerian Stock Exchange Monday June 25 but top weighted Dangote Cement helped the All share index to close 0.34% up at 37,992.12.

Dangote Cement had declined by N5.3 per share on Friday while recording deals for 1.088m shares thus helping to depress the ASI  by 0.73%.

This Monday, however, it almost regained all of that loss by rising N5. or 2.22% per share while 5.07m of its shares changed hands in 2nd ranked 217 deals worth leading N1.163bn.

The top up was rather easy for Dangote Cement as it opened and closed at N230 per share compared to N225 on Friday.

Cement Company of Northern Nigeria was the only other equity with above N1 per share gain. A fact which exposes the Dangote Cement pressure on ASI upwards because, of the 21 price drops 3 were above N1 per share.

Besides, Seplat Petroleum and Nestle Nigeria, the two top priced equities in the market recorded major drops

Seplat Petroleum paced decline with N34.2 or 4.99% per share drop as, like Dangote Cement, it found and closed simply at N650 per share as against N685 previously.

It recorded just 70 deals for 0.128m shares worth N85.13m while Nestle lost N5 or 0.33% per share as 41 deals were sealed for 0.12m units worth N179.83m.

CAP Plc was the other company down notably as it declined by N1.8 or 4.89% per share in 17 deals for 0.17m shares worth N2.19m.

Because Friday was a low of sorts, trade recovered easily with traded volume rising to 207.4m shares and traded value closing at N3.42bn from N1.42bn previously although number of deals eased to 3823 from 3847.

Top trade was in UBA in which 43.71m shares were exchanged in 119 deals worth N459.24m but lead number of deals was Zenith Bank's 275 involving 16.18m shares worth N418.65m.

From July 1 2018, apart from the usual review of indices basket composition bi annually, amendments to the market will take effect.

There will now be window session for surplus after normal trading session and more importantly, daily price change will now be a maximum of 10% of the previous day's price.

In other words, expect sharp drops or increases in top priced equities in the near future especially when deals struck are backgrounded by emerging corporate performance indicators and new macro economic initiatives or realities.

NAIROBI SECURITIES EXCHANGE:

BOND TRADE UP, EQUITY DOWN

At the Nairobi Stock Market Monday June 25, 2018, trade recorded in the bond and equity segments closed in opposite directions: Up at Bond, down for Equity.

Traded value at the bond market closed the day at Ksh 3.41bn in 57 deals, more that twice the Ksh  1.28bn clocked on Friday, June 22.

Lone deals were recorded in corporate notes (Ken Gen Infrastructure offer 2019 for Ksh180,000) and Sell or buy back in which Ksh 171.8m worth of 10year government fixed bond issued at 9.95% was recorded.

As usual, fixed income government bond nominally valued above Ksh 50m showcased highest trade with 14 state stocks closing with deals including 2 with Ksh500m worth each.

On the other hand, traded volume at the Equity segment dipped to 9.1m shares from Friday's 27.89m dragging traded value down to Ksh 223.167m from Ksh 626.153m.

The All share index however rose marginally to 172.96 from 172.74 as 17. price drops and 18 gains were recorded.

Lead gain was Williamson Tea rise by Ksh 4 or 2.9% per share while Umeme ltd paced decline with Ksh 4 or 4% per share followed by  Standard Chartered Bank down Ksh 2 or 0.99% per share.

Top traded volume was as Safaricom witnessed deals for 2.724m shares at between Ksh 28.25 and 29 per share worth Ksh 78m. The equity also closed up by Ksh0.25 or 0.88% per share.

Kenol Kobil recorded deals for 2.3m units worth Ksh 41.4m without price change while KCB Group paced banking sector with deals for 733,000 shares worth Ksh 35m at between Ksh 47.50 and 48.50 per share.

GHANA STOCK EXCHANGE:

COMPOSITE INDEX AGAIN UP, THEN DOWN

On Friday June 22 2018, the Ghana Composite Index (GCI) at the Ghana Stock Exchange had risen by 22.39 points or 0.77% second time in a week.

However, it reversed gear once again Monday June 25, dropping by 32.5 points or 1.11% to 2885.77

This occurred three price drops and one gain were recorded.

Traded volume too declined to 162,053 shares from Friday's 181,703 units.

Top volume was recorded by Ecobank Transnational in which deals were clocked for 38,400 shares at Ksh 0.21 per share.

Its Ghana subsidiary, Ecobank Ghana trailed while witnessing deals for 10,500 units followed by Standard Chartered bank in which 7,090 shares changed hands at Ksh 27 per share without price change.

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