JUNE 27, 2018: TODAY AT NIGERIAN, NAIROBI, GHANA STOCK MARKETS

NIGERIAN STOCK EXCHANGE:

STERLING BANK LOSES ATTRACTION

Sterling Bank Wednesday June 27 2018 recorded a rare and top offload at the Nigerian Stock Exchange that failed to command high investor interest it is hitherto known for.

A total of 172.63m shares of Sterling Bank were exchanged but only in 17 deals which was not comparable to the  more usual scramble whenever substantial volumes of the bank were offered in the past

As the deals were struck to take up the shares, Sterling Bank gained N0.04 per share and so the traded value came to N241.03m.

The Sterling Bank traded volume thus accounted for almost 50% of the day's total market 372.299m shares.

Nearest to it was 31.53m shares traded in Zenith Bank  in day high 430 deals worth N792.74m, the pacing traded value.

The All share index closed the day down 0.06% to 37,963.93 apparently heading down at a faster rate than Tuesday June 26's 0.01% decline to 37,988.54.

Total Nigeria had paced gains with N7.2 or 5.72% per share as it recorded 23 deals for 0.53m shares valued at N10.70m and it was followed  by Stanbic 's N1 or 2.04% per share while 24 deals involving 0.735m shares worth N36.75m.

Total simply opened and closed the day at N200.5 per share compared to N193.3 on Tuesday.

Thus the decline in ASI was more a reflection of the share number of more price drops than gains.

The drops were led by Okomu Oil Palm down N1.7 or 1.80% per share  as 0.115m shares were exchanged in 16 deals worth N10.62m.

Like Total Nigeria, losing was easy as it found and closed at N92.50 per share as against N94.2 on Tuesday.

Other major price drops were N1.2 or 4.86% per share decline by Cement Company of Northern Nigeria to record 82 deals for 2.91m shares valued to N60.77m

NAIROBI SECURITIES EXCHANGE:

ALL SHARE INDEX UP BUT...

The All share index closed up 1.43 points at 175.53 at the Nairobi Securities Exchange Wednesday June 27 but  not because the market was necessarily bullish.

In all there were 15 price gains compared to 22 drops which hinted more at bearish tendency.

Margin of decline was bigger too as BOC Kenya and British American Tobacco paced drops with Ksh 4 per share each followed by TPS Eastern down Ksh 3.25 per share.

BOC closed at Ksh 86 per share after day high of Ksh 90 and low of Ksh85 as against Ksh 90 per share previously.

On its part, BAT hit day high of Ksh 615 per share then slipped to close at Ksh 610 compared to Ksh 614 per share on Tuesday.

Other major price drops include Crown Paints, down Ksh 3 per share and Nation Media which eased by Ksh 2 per share.

In contrast, only East African Breweries closed Ksh 4 per share up and none else was even up to N2 per share.

EAB  closed Tuesday at Ksh 214 per share, touched a high of Ksh 220 and low of Ksh 215 before closing at Ksh 218 per share.

What perhaps settled the ASI direction was Ksh 0.50 per share gain recorded by Safaricom with additional support from Standard Group with Ksh 1.50 per share gain;  Sanlam ( up Ksh 1.25) and Unga Group which topped up by Ksh 1 per share.

Traded volume increased marginally to 28.78m from 28.359m shares but traded value rose to Ksh 1.067bn from Ksh 880.15m.

Safaricom posted deals for 16.54m to lead traded volume trailed by KCB Group's 3.34m shares,  Kenol Kobil's 1.5m shares, Equity bank's 1.39m units and East African Breweries' 1.06m.

GHANA STOCK EXCHANGE:

BULLISH SOMEHOW

After closing Tuesday June 26, 2018 a bit bearish as the only 3 price changes recorded were down, at the Ghana Stock Exchange there was reverse outlook more or less on Wednesday June 27, 2018.

Hence, while the Ghana composite index eased from 2885.97 on Monday to 2875.39 on Tuesday, it rallied by 3.37 points Wednesday June 27 2018.

This was as 4 price gains recorded dwarfed just one gain.,

Traded volume had declined to 67,689 shares on Tuesday but recovered strongly to 738,122 shares by Wednesday.

Top trade was in CAL Bank in which 686,000 units changed hands and the bank ended the day up by GHc 0.09 per share.

Societe Generale Kenya followed with deals for 14,000 shares while ending GHc 0.01 up; Total Kenya with deals for 12,000 shares up GHc 0.05 per shareand Ghana Commercial Bank in which 11,500 units changed hands.

Ecobank Ghana was the lone ranger price wise as it closed at GHc 8.45 per share leading to GHc 0.04 per share decline while only 100 shares were dealt in.

At the end of the day, 6 companies were on bid and 13 on offer while 8 closed with bid and offer prices that did not match for deals.

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