JUNE 29, 2018: REVIEW OF THREE AFRICAN STOCK MARKETS

NIGERIAN STOCK EXCHANGE:

HEAVYWEIGHT BULLS

At the Nigerian Stock Exchange Friday June 29, 2018, the bulls came charging after 3 days of looking down but they went more after heavyweight equities.

In all there were 30 price gains and only 18 drops but more importantly, top gainers were mainly heavyweights with maximum impact on the All share index valuation basket.

The All share index closed 1.44% or 545.11 points up at 38,378.55 after 3 consecutive days downwards had brought it to 37,733.44 on Thursday.

Nestle Nigeria, the market's highest priced equity, paced price gains with N73.9 or 4.92% per share as it recorded deals for 0.212m shares worth N322.17m.

Nestlé closed Thursday at N1501.1 per share, opened Friday at N1501.2 then climbed to close at day high of N1575 per share.

Total Nigeria too, a heavyweight in the petroleum products sector, trailed from a distance with N9.5 or 4.74% per share gain followed by market's top heavyweight, Dangote Cement with N4 or 1.78% rise per share.

Others still topped up with good margins within the day: Nigerian Breweries closed up by N3.2 or 2.85% per share and this was followed by N2 per share gains by the trio of Stanbic IBTC; 11 PLC and Okomu oil palm.

In contrast, price drops were paced by Forte Oil down N1.2 or 3.52% per share as it closed at day high of N32.85 after opening the day at N32.8 and hitting day low of N32.75 per share; all of them down on Thursday's N34.05 per share.

Forte oil recorded 70 deals for 2.73m worth N89.495m.

It was heavyweight day too to an extent in terms of traded volume as top volumes were recorded mostly in banks.

Wema Bank topped offload with 171.32m sold in 39 deals worth N119.95 as it closed N0.03 per share up.

Guaranty Trust Bank trailed with 75.08m offload in 2nd ranked 287 deals worth leading N3.012bn thus accounting more than 50% of N5.81bn total market traded value.

Others recorded major offloads too with Multiverse Resources breaking the banking ranks with 71.37m shares sold in just one deal for N14.27m before Zenith Bank's 50.45m shares in day high 288 deals worth 2nd ranked N1.261bn and Fidelity Bank's 20.855m shares dealt in through 60 deals valued at N47.34m.

NAIROBI SECURITIES EXCHANGE:

WEEK UP IN SPITE OF FRIDAY

Trading activities in the week ended Friday June 29, 2018 at the Nairobi stock market were up in spite of lower activities on Friday itself.

Friday volume came to 17.93m shares valued at Ksh 532.25m in 1147 deals compared to 32.5m in 1256 deals valued at Ksh 988.979m on Thursday.

Yet, the week's total volume came to 116m shares valued at Ksh 3.6bn as against 107m shares worth Ksh 3.3bn the previous week.

The All share index too closed down at 174.36 compared to 175.50 on Thursday but even this still represented 0.94 points increase on previous week's close.

On Friday June 29, the ASI went in tow with 20 price drops (Safaricom included) and 12 gains.

Top price gain was Ksh 4 per share by BOC Kenya in the manufacturing sector followed by Ksh 2 per share each by Diamond Trust Bank and Jubilee Holdings

On the other hand, Standard Group paced Friday losers with Ksh 3.25 per share drop followed by Ksh 1 per share decline by the duo of Equity Group and Bamburi Cement.

Safaricom dominated week long trade with deals for 69m shares at between Ksh 28.25 and 29.50 per share valued at Ksh 2.bn or 55.9% of all week traded value

The banking sector accounted for Ksh 1 bn or 27.45% with KCB Group accounting for 10.7m worth Ksh 497m traded at between Ksh 46.25 and 48.25 followed by Equity Group, down 5.13% during the week, with 8.1m shares valued at Ksh 391m.

The manufacturing and allied sector chipped in Ksh 358m or 9.71% worth during the week with East African Breweries dominating with deals for 1.4m shares worth Ksh 316m at between Ksh 214 and 218 per share through the week

Growth was slight though at the bond market occurred though as total traded value came to Ksh 10bn compared to Ksh 9.8bn the previous week.

GHANA STOCK EXCHANGE:

Only figures and facts to Thursday June 28 were available for the Ghana Stock Exchange as Henates compiled this review early Saturday, June 30.

This had been reviewed in previous post and we will bring updates for Friday and the full week when they are available.

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