JULY 13, 2018: NN STOCKS: AGAINST THE MOOD BUT....

At the 3 stock markets currently analysed daily by Henates: Nigerian, Nairobi (NN) stock markets, All share index closed more against market mood in 2 on Friday July 13, 2018. Ghana Stock Exchange figures were not available.

NIGERIAN STOCK EXCHANGE:

ASI UP AMIDST MORE DROPS

At the Nigerian Stock Exchange, after 2 consecutive days downwards, the All share index rallied by 0.45% to 37,392.77 on Friday July 13, but this was as 26 price drops were recorded compared to 17 gains.

Apparently, this was more because greater leaps in prices were recorded compared to very marginal declines.

Market pace setter by price per share, Nestlé Nigeria led gainers with N27 of 1.80% leap per share as it witnessed 62 deals for 0.205m shares valued at N299.579m.

There was no struggle to the gain as it simply found and closed at N1527 per share compared to N1500 on Thursday.

Even then, it was a solo leap. Second highest priced equity, Seplat Petroleum also jumped by N15 of 2.36% to record just 4 deals for 0.465m units valued at N302.496m.

Then, La Farge Africa and CAP plc offered the icing with N3 or 8.70% and N2 or 5.71% per share top up respectively.

While La Farge witnessed 43 deals for 0.248m shares worth N8.88m, CAP had only 13 deals involving 0.317m units valued at N11.096m.

On the other hand, the more crowded losers scene was paced by Flour Mills of Nigeria down N1.5 or 4.92% per share accompanied by 50 deals involving the exchange of 0.71m shares for N21.207m.

There was a little struggle as Flour Mills first slipped from Thursday's N30.5 per share with which it opened the day, to day high of N30 then eased further to close at N29 per share.

Only 2 other equities trended down with above N1 per share: Forte Oil dropped by N1.3 or 4.30% per share to close with 100 deals for 1.19m shares worth N33.54m while Cadbury Nigeria lost N1.15 or 9.35% per share accompanied by 35 deals that led to exchange of 0.105m shares for N1.875m.

Unlike the All share index, however, all trade indicators declined. Traded volume dropped to 212.876m shares from 350.474m; traded value decreased to N3.236bn from N4.60bn and number of deals eased to 3143 from 3228.

Top trade was in Access bank as 84.879m of its shares were offloaded in 94 deals worth leading N864.655m.

Access closed up by N0.15 per share but with some struggle in spite of the offload. It opened at Thursday's N10.05 per share, scaled to N10.1 before closing at day high of N10.2 per share.

Its investor's interest as evidenced by number of deals was, however, not comparable to FBN Holdings leading 215 deals for 12.087m shares worth N125.495m.

NAIROBI SECURITIES EXCHANGE:

ASI DOWN DESPITE HIGH MARGIN GAINS.

In the case of Nairobi Stock market, sure on Friday July 13, price gainers at 14 were less than losers (18) but many of the gains were of relatively high margins.

Yet, the All share index, which affected by both issued capital and current price of shares, went down by 0.19 points to 171.27.

Of the 14 price gains, Nation Media, the highest priced equity in Commercial and allied, sector, led with Ksh 5.50 per share gain followed by British American Tobacco, also high priced but in manufacturing, with Ksh 5 per share top up  and Bamburi Cement, yet another sector price leader,and I& M Group  rose by Ksh 4 per share each.

Nation Media and Bamburi Cement found new prices and closed there (Ksh 95 and 180 per share respectively) while BAT hit day high of Ksh660 per share, and a low of Ksh 601 before closing at Ksh 605 per share, compared to Ksh 600 per share previously.

Yet another listed company ended with relatively high gain: Standard Group closed up by Ksh 2.25 per share.

On the other side of the scale or pendulum, leading price drop was Ksh 6 per share recorded by Crown Paints as it found and closed at Ksh 59 per share as against Ksh 65 per share previously as only 100 shares were exchanged.

On its trail was then East African Breweries Ksh 2 per share decline and Ksh 1 per share decrease by Williamson Tea and Sanlam ltd.

In other words, what proved equally decisive in the ASI decline was the Ksh 0.25 per share drop by Safaricom, the market's top capitalised equity by a long distance.

Trading trended down as well with traded volume coming to 9.991m shares from 12.222m previously; traded value declining to Ksh 199.965m from Ksh 338.465m but number of deals at 1072, once again crossed the 1000 mark compared to 873 previously.

Leading  trades were Safaricom's recorded deals for 4.689m shares, and ARM Cement's exchange of 2.045m shares.

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