JUNE 28, 2018: NIGERIAN, KENYA, GHANA STOCK MARKETS REVIEW

NIGERIAN STOCK EXCHANGE:

ASI STILL DROPPING FASTER

At the Nigerian Stock Exchange Thursday June 28, 2018 the All share index continued downwards for the 3rd day running and at faster pace as well.

After closing Monday June 25 up 0.34%, it had dropped by 0.01% the next day then by higher 0.06% on Wednesday before going down by 0.61% to 37,733.44 by Thursday.

In a way, this was inevitable because number of price drops was not only higher, top weighted Dangote Cement led the decline.

It dropped by N5 or 2.17% per share while recording 76 deals for 2.62m shares worth N599.54m.

Dangote Cement opened the day at N229 per share which turned to be day high as it slipped to close at N225 per share, down from N230 per share previously.

In all there were 20 price drops and 16 gains. Okomu Oil Palm trailed Dangote Cement with N2.50 or 2.70% per share decline while closing with 61 deals for 1.15n shares valued at N104.06m.

On the other hand, price gainers were paced by La  Farge  Africa with N2 or 5% per share gain. It opened the day at N40.9 per share, hit a low of N40 then recovered to close at day high of N42 per share.

La  Farge in the end witnessed 117 deals involving 7.275m shares worth N302.489m.

Unilever Nigeria and Flour Mills of Nigeria followed with N1.25 or 2.45% per share and N1.15 or 3.70% per share gain respectively.

Nestle Nigeria also recorded N1 or 0.07% per share gain while witnessing only 11 deals for 0.107m units worth N161.77m.

There was improved trade as traded volume ended at 414.9m shares from 372m and traded value closed at N4.45bn compared to N3.179bn previously but number of deals dropped to 3354 from 3800.

The day's offload was more of the rare kind as rarely traded Champion Breweries recorded just 18 deals for leading 140.35m shares worth N269.51m without recording price change.

Zenith Bank, however, led number of deals with 381 deals struck for 2nd highest 26.227m shares valued at N651.78m.

NAIROBI SECURITIES EXCHANGE:

BAT LEADS ASI DOWN

British American Tobacco led 17 price drops at the Nairobi Stock Market Thursday June 28, to depress the All share index despite rise in the share price of Safaricom.

The ASI eased by 0.03 points to 175.50 after Wednesday's rather strong 1.43 points recovery.

BAT found and closed at Ksh 600 per share, down Ksh 10 per share on Ksh 610 the previous day and recorded deals for 54,700 shares.

It was followed downwards by the duo of Standard Chartered Bank which paced bearish banking and Total Kenya with Ksh 3 per share decline each.

Indeed, the banking sector helped set the tone for ASI as of the 8 price changes recorded there, only Diamond Trust Bank pointed up.

DTB had hit day high of Ksh 198 per share then eased to close at Ksh 197 but even this was still Ksh 2 per share ahead of Wednesday's Ksh 195 per share.

It was followed by Unga Group up Ksh 1.25 per share and East African Breweries with Ksh 1 per share gain.

Traded volume grew to 32.5m shares from 28.7m but traded value dropped to Ksh 988.979m from Ksh 1.068bn previously and number of deals also declined to 1256 from 1342.

Safaricom, up Ksh 0.25 per share recorded deals for 22.488m shares followed by four other companies with above 1m volume each.

KCB Group had deals for 3.32m shares; Ken Gen recorded for 1.544m units; Mumias recorded deals for 1.175m shares while ARM Cement ended the day witnessing deals for 1.097m shares.

It may not be in millions but Kakuzi ltd in the agricultural sector recorded deals for  69,400 shares.

GHANA STOCK EXCHANGE:

VOLUME & INDEX UP

Traded volume and Ghana Composite index at Ghana Stock Exchange rose significantly Thursday June 28 2018 almost in a rare fashion.

Traded volume came to 5.183m shares compared to 738,122 the previous day while the GCI closed at 2880.63, up 1.87 points.

There were 3 price gains and 2 drops with Unilever Ghana pacing gains with GHc 0.10 per share as 5000 of its shares were dealt in at GHc 17.80 per share which incidentally was its year high.

However, bid interest later at GHc 17.72 per share found no matching offer.

CAL Bank recorded dominant trade as 4.999m of its shares were traded at GHc 1.28 per share, up GHc0.03 per share.

More deals could have been struck in CAL but while bid price eased to GHc 1.25 offer price rose to GHc 1.30 per share.

PZ Cussons Ghana paced price decline with GHc 0.04 per share but recorded deals for only 500 shares at GHc 0.45 per share.

Ghana Commercial Bank, on the other hand, went down GHc 0.03 per share while recording deals for 175,400 units at GHc 5.15 per share. No more deals were struck because offer price then closed at GHc 5.20 per share.

In all 8 equities closed on offer, 9 on bid and 7 ended with bid and offer price mismatch.

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