JULY 16, 2018: CAUTION, THE WORD AT NIGERIAN, NAIROBI, GHANA SEs.

Caution was the watchword at the 3 African markets currently reviewed daily by Henates on Monday July 16, 2018 but in relative degrees. Hence price changes were mainly low margin.

NIGERIAN STOCK EXCHANGE: 

NO SINGLE DIGIT GAINS.

On Monday July 16, 2018 the new week took off at the Nigerian Stock Exchange with no price gains of up to N1 per share although 3 others went down that much.

It was a day of drops but because it was so marginal, the All share index declined only by 0.34% to 37,266.86 from last Friday's improved 37,392.77.

Top gain was by Flour Mills of Nigeria with just N0.9 or 3.10% per share gain accompanied by 61 deals for 0.608m shares worth N17.753m.

It had opened the day at last Friday's N29 per share then rose to close at N29.9 per share.

Others in top 5 gainers category were UACN, up N0.7 or 5.26% per share; NAHCO with N0.37 or 9.97% rise per share; Ecobank Transnational ( N0.35 or 1.72% per share) and Transcorp, which topped up N0.03 or 2.44% per share.

Of this lot, only Transcorp recorded substantial traded volume. It witnessed 2nd ranked 301 deals for 3rd placed 40/553m offload worth N51.479m.

On the other hand, CAP plc led the 32 price losers with N2.50 or 6.76% decline for 26 deals involving 0.167m shares worth N5.733m.

The drop was easy too for CAP Plc as it found and closed at N34.5 per share compared to N37 per share previously.

It was trailed by 2 more equities with  N1.9 per share decline each:. PZ Cussons and Forte Oil.

There was increase in both number of deals and traded volume to 3402 from 3143 and N303.479m from N212.875m but traded value dropped to N2.039bn from N3.236bn.

This was because both price changes and traded volume were dominated by low and medium price companies with Medview Airlines leading volume as 100.011m is its shares were offloaded for N198.379m in just 7 deals.

FBN Holdings had led the marketwith 329 deals and N445.84m value  involving 2nd ranked 42.872m shares while Transcorp beefed number of deals further with 301 deals for 3rd placed 40.553m shares worth N51.479m.

NAIROBI SECURITIES EXCHANGE:

CLOSE CALL

The tug between gainers and losers at the Nairobi Securities Exchange Monday, July 16, 2018 was a close call of sorts as 16 drops and 14 gains were recorded resulting in very marginal 0.21 points decline in the All share index to 171.06.

This was the 5th decline at a stretch since Tuesday last week when it rose to 174.16 leading to 1.68 points or 0.97% all week drop by Friday close.

Bamburi Cement shed the most in terms of Ksh losing Ksh 4 per share as it hit day high of Ksh 180 at which it closed Friday before sliding to close at Ksh 176 per share.

Other major price drops were by East African Breweries down Ksh 2 per share; Centum Investment with Ksh 1.25 decline and Ksh 1 per share drop by the trio of Williamson Tea, Diamond Trust Bank and Nation Media.

On the other hand I&M Holdings had a solo run of sorts leading price gainers with Ksh 5 per share top up as it found and closed at Ksh 115 per share from Ksh 110 previously and while 100 shares only were exchanged.

Its closest price gainers were Standard Group, and Sanlam up Ksh 1 per share each and Total Kenya which ended the day Ksh 0.75 per share up.

Friday trade was relatively low and so easy to recover from as traded volume closed at 23.5m shares compared to 9.99m previously; traded value came to Ksh601.446m from Ksh 199.98m and number of deals rose to 1247 from 1032.

Safaricom, as usual paced volume and value with deals for 10.493m shares worth Ksh 296m at between Ksh 28 and 28.75 per share thus accounting for 49.31% of traded value for the week.

The banking sector chipped in Ksh 238.1m or 39.60% as 3.255m shares of KCB Group changed hands at between Ksh 47.25 and 48 per share valued at Ksh 154m.

Three other banks also recorded above 1m volume: Equity Group witnessed deals for 1.116m shares worthKsh54.6m and, HF Group, in a rare trade, accounted for exchange of 1.072m shares.

The 3rd one was ARM Cement in the Construction sector, up 7.8% or Ksh 0.35 per share, with deals for 3.088m shares worth Ksh 14.9m.

At the bond market traded value declined to Ksh 2.047bn in 43 deals from Ksh 2.276bn in 50 deals.

GHANA STOCK EXCHANGE:

CAL BANK OFFLOAD.

The main thing at the Ghana Stock Exchange on Monday July 16 2018 was not that the Composite index dropped once again but that an offload in CAL Bank led to record growth in traded volume 

The Composite index, like for the other 2 daily analysed exchanges, eased by 0.18 points to 2946.07 compared to last Friday's 2946.25.

This was as Fan Milk ltd recorded the lone price change as it dropped by GHc 0.01 per share to record deals for just 100 shares at GHc 13.68 per share.

By the close of the market, though there was still unmet bid interest at that price without a corresponding offer for more deals to be struck.

The traded volume for the day, came to 2.815m shares highest daily volume in recent times. The main driver of this was offload of 2.73m shares of CAL Bank while closing firm at GHc 1.30 per share.

Total Ghana trailed this from a long distance with recorded deals for 50,000 units at GHc 4.05 per share while closing on bid at the same price.

It was followed by Enterprise Group ltd with deals for 18,000 units at GHc 3.02 per share while closing on offer, same price and Ecobank Ghana as 15,500 of its shares changed hands at GHc 8 per share to close on offer too at the same price.

In all, 5 companies closed on bid; 11 on offer and one recorded bid and offer price that could not match for a deal.



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