JULY 11, 2018: INDICES DOWN AT NAIROBI, NIGERIAN, GHANA SEs.

The 3 African stock markets currently reviewed daily by Henates: Nairobi, Nigerian and Ghana stock markets closed with one thing common on Wednesday, July 11, 2018: Decline in all market index.

NAIROBI SECURITIES EXCHANGE:

ALL SHARE INDEX DOWN 1.11%

At the Nairobi Securities Exchange the All share index declined by 1.93 points or 1.11% to 172.23 after rallying for a while in recent days.

This was as 17 price drops and 12 gains were recorded amidst gradual in both traded volume and value.

It was indeed a day of major price changes with I & M Holdings Crown Paibts and East African Breweries tumbling and Jubilee Holdings recording a leap that didn't make so much difference.

I&M found and closed at Ksh 106 per share compared to Ksh 115 previously as only 100 units were exchanged, thus down Ksh 9 per share.

Crown Paints declined by Ksh 8 per share after finding and closing at Ksh 72 per share as against Ksh 80 per share the previous day.

EAB as usual, witnessed active trading with deals for 222,100 units recorded worth Ksh 47.2m at a price down Ksh 4 per share.

But the truly remarkable price change was the solo by Jubilee Holdings up Ksh 25 per share. Jubilee hit a high of Ksh 530 per share, then slipped to a low of Ksh 529 but even that was up on Ksh 504 per share on July 10, 2018.

This could not drive the All share index upwards though because aside from the major drops, top market capitalisation Safaricom eased by Ksh 0.50 per share while witnessing day high 5.134m shares being sold at between Ksh 28.25 and 29 per share.

Traded volume rose from 14.849m shares to 17.256m while traded value increased to Ksh 525.57bn from Ksh 515.287bn although number of deals dropped to 1070 from 1183.

The Safaricom volume aside, other major traded volumes were recorded by KCB Group and Equity Group with deals for 2.16m shares and 1.33m units respectively and by rare trade in WPP Scan Group which ended with deals for 1.111m shares at between Ksh 15.80 and 16.50 per share worth Ksh 18m.

Traded value at the bond market reduced to Ksh 1.85bn in 45 deals as against Ksh 2.076bn in 73 deals previously.

NIGERIAN STOCK EXCHANGE:

ASI DOWN AGAIN

In the case of the Nigerian Stock Exchange, the All share index dropped once again after Tuesday's 0.60% decline, going down by 0.45% to 37,253.25.

There were more price drops (25) than price gains (17) as can be expected to lead to ASI decline  but again.like for Nairobi market, in spite of a runaway price gain.

About five equities closed down by above N1 per share compared to only 2 such gains but 11 Plc's leap by N15.5 or 9.39% per share was exceptional.

11 Plc opened the day at previous day's N165 per share then hit and closed at day high of N180.5 per share while recording 24 deals for 0.041m shares worth N7.43m.

The only other major price gain was N1.45 per share by Forte Oil while Nigerian Breweries closed up at the borderline of N1 or 0.91% per share.

The price losers were more in number and paced by Julius Berger with N3 or 10% per share again as it found and closed at N27 per share from previous day's N30 per share.

Almost in tow International Breweries lost  N2.65 or 6.46% per share while showcasing 19 deals for 0.326m shares worth N12.927m.

But the real ASI downer was Dangote Cement's N2 or 0.88% per share decline as, following in the day's tradition, it found and closed at N225 per share.

Dangote recorded 55 deals for 0.957m shares worth N216.9m.

Traded volume rose to 287.685m shares from 213.2m previously with Access Bank contributing 40.3% with 147 deals involving 116m shares offload worth day high N1.206bn (actually, 32.2% of N3.745bn market total).

Leading number of deals was Zenith Bank's 248 deals which led to exchange of 2nd highest 41.05m shares valued at N999m while closing up N0.2 per share

GHANA STOCK EXCHANGE:

COMPOSITE INDEX DOWN 1.34%

At the Ghana Stock Exchange,  the Composite index took a major dive 1.34% to 2903.77 but mainly because the lone gain recorded was a low one by Enterprise Group ltd and Standard Chartered Bank while Ecobank Ghana and even AccessBank  and Republic bank took relative leap.

Ecobank recorded deals for 1200 at GHc 7.50 per share, down GHc 0.58 per share but it closed on bid at the same amount while offer rose to GHc 8.40 per share.

In the case of Standard Chartered the decline was GHc 0.60 per share as it witnessed deals for 3320 units at GHc 26 per share and closing on offer at the same amount.

Access bank went down GHc 0.03 per share accompanied by deals for 3100 shares at GHc 3.50 per share

Republic Bank had top gain at GHc 0.04 per share while only 100 shares were sold at GHc 1.50 per share.

On the other hand, Enterprise Group  rose by GHc 0.01 per share as 4700 shares changed hands at GHc 3.02 per share though it closed GHc 3.05 per share bid price.

Traded volume recorded a sound leap though rising to 1.89m shares compared to 207,500 shares clocked on July 10, 2018.

Top trade was recorded by CAL Bank in which 1.72m shares were sold at GHc 1.30 per share without price change.