JUNE 26, 2018: TODAY AT NIGERIAN, NAIROBI, GHANA STOCK MARKETS

NIGERIAN STOCK EXCHANGE:

OFFLOAD IN UNION BANK.

For the first time in a very long while Union Bank PLC dictated the pace in volume trade at the Nigerian Stock Exchange on Tuesday, June 26, 2018.

It closed the day with 281.54m of its shares exchanged in 41 deals worth equally leading N1.548bn.

It thus accounted for 52.2% of the day's 539.66m total market volume but in value terms, it comes to only 32.9% of N4.711bn traded value for the day.

In the process, Union Bank rose by N0.05 per share as it opened and closed the day at N5.90 per share, compared to N5.85 previously.

Both the Union Bank volume and value were way ahead of others but Fidelity Bank also recorded an offload in the form of 61.917m of its shares traded in 3rd ranked 286 deals worth N142.42m while closing up by N0.11 per share.

Other major trades were 26.71m sold in Transcorp plc in 155 deals worth N36.72m and FBN Holdings' 269 deals ranked 4th for 24.39m units valued at N262.34m.

After Monday's rally, the All share index eased by 0.01% to 37,988.54 more because the pull either way was by almost equal number of equities: 23 price drops and 22 gains.

Leading price gain was by Nestle Nigeria, the market's highest priced equity which went down N5 per share previously.

It closed N10 per share higher this time around as it found and closed at N1500 per share as against N1490 on Monday.

One other company topped up with more than N1 per share: Presco rose by N1.5 per share as 24 deals were struck involving 0.414m shares worth N31.06m.

On the other hand, leading price decrease was International Breweries N2.7 per share decline while witnessing 27 deals for 2.13m shares worth N88.247m.

International Breweries had closed Monday at N44 per share, opened at N43.45 below settling at day low of N41.3 per share.

Other major price drops were Cement Company of Northern Nigeria's N1.25 per share, and 11 Plc's N1 per share decline.

In all there 4292 deals, up on Monday's 3822 and leading this pack was Zenith Bank with 356 deals struck for 20.228m shares worth 2nd ranked N518.5m

NAIROBI SECURITIES EXCHANGE:

BEARISH BANKING, ENERGY SECTORS

Even though the All share index rose by 1.14 points to 174.10 at the Nairobi stock market Tuesday June 26, 2018, this was inspire of bearish market outlook for banking and Energy & petroleum sectors in particular and less so for the Commercial sector of the market.

In the banking sector, of the 8 price changes recorded, only I &M Holdings Ksh 1 per share was up. Down Ksh 1.per share, KCB Group led all others downwards and that included Barclay's, Diamond Trust Bank, Equity Group, NIC Group, National Bank and Cooperative bank.

In the energy and petroleum sector, all four price changes went down although in very low margins with Umeme ltd pacing with Ksh 0.85 per share down.

It was slightly different in the commercial and allied sector in which of the 13 quoted, 11 recorded price changes. And of the lot, 7 were price drops as against 4 gains.

Indeed, overall price drops for the day at 31 were more than double gains (14) and so, the rather strong recovery in the ASI could be attributed to higher margins of gain and top up by Safaricom.

Top price gain was recorded by Bamburi Cement as only 2000 of its shares were traded. It rose by Ksh 5 per share after hitting a day high of Ksh 181 before closing at low of Ksh 180 per share compared to Ksh 175 per share on Monday.

It was closely followed by British American Tobacco with Ksh 4 per share gain while being counted amongst the 7 out of 8 quoted equities in the Manufacturing sector with deals.

Safaricom added some icing to the ASI increase by closing Ksh 0.50 per share up while recording leading traded volume of 17.6m shares.

On the other hand, price decline was paced by 2 companies in the agricultural sector: The Tea pair: Kapchorua Tea and Williamson Tea. Both closed down by Ksh 2 per share as they each found and closed at lower price in one go.

Following Safaricom's lead in traded volume were Equity Group with deals for 3.669m shares worth Ksh 178m and KCB Group in which 1.89m shares changed hands for Ksh 88m at between Ksh 46.75 and 47.75 per share.

In addition, the Nairobi Securities Exchang witnessed deals for 1.2m shares worth Ksh 4.1m while closing down Ksh 0.15 per share.

GHANA STOCK EXCHANGE:

Updates were not available for the Ghana Stock Exchange for Tuesday as Henates rounded up the review for the day.

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