JULY 17, 2018: REVIEW OF NIGERIAN, NAIROBI GHANA SES

NIGERIAN STOCK EXCHANGE:

LITTLE DROPS OF TRADE.

On Tuesday July 17, 2018 it was a case of little drops of trade as there was no major offload that made a difference at the Nigerian Stock Exchange.

The result was that traded volume eased to 203.8m shares from July 16's 303.479m and perhaps more importantly, the All share index closed downwards even as heavyweight Dangote Cement closed up.

The ASI ended the day at 36,963.70, down 0.81% on 37,266.86 previously although Dangote Cement had a solo run closing up N3 or 1.32%  per share as 52 deals for 0.476m shares worth N109.367m.

Dangote Cement hit day high of N230.1 per share but slipped slightly to close at N230 compared to N227 per share.

The leading trade was Transcorp plc's 20.707m shares exchanged in 202 deals worth N26.555m while closing N0.01 per share up.

The point though was that most of the major trades recorded resulted in price drops. In all there were 34 price drops and 14 gains and most times too with higher decline margins.

Lead decline was by Okomu Oil and Palm which shed N7 or 7.61%  per share in 18 deals for 1.836m units valued at N155.986m.

Okomu opened the day at previous day's N92 per share then hit a low of N82.8 before closing at N85 per share.

It was followed by 7 equities with above N1 per share decline led by Stanbic IBTC down N3.95 or 7.67% per share while witnessing 21 deals involving 0.379m shares worth N18.026m and N3 per share drop by La Farge Africa and International Breweries.

However, much as traded volume declined, traded value rose to N2.383bn from N2.039bn mainly because the previous day's top offload was relatively low priced Medview Airlines listed last year.

Number of deals also grew to 4178 from 3402 with 6 equities recordings deals 200 and above paced by Zenith Bank's 293 deals for 15.424m shares worth N368.71m while closing down by N0.15 per share.

GHANA STOCK EXCHANGE:

MORE TRADE, LESS VOLUME

Unlike for Monday July 16 2018 when offload in CAL Bank drove traded volume to new heights, at the Ghana Stock Exchange, it was a case of more trades less volume Tuesday, July 17, 2018.

There were 14 listed companies that recorded deals compared to just 8 on Monday but traded volume closed at 494,177 as against Monday's 2.817m shares.

The pace setter this time was Ecobank Ghana in which 251,500 shares were exchanged at GHc 8 per share same price on Monday. However, offer price moved up further to close at GHc 8.25 per share without more deals.

Fan Milk ltd trailed with Composite index boosting deals for 130,000 units at GHc 13.8 per share, up day high GHc 0.10 per share although closing on offer at same price with no additional deals.

It was followed by Societe Generale Ghana with deals for 78,400 shares at firm price of GHc 1.25 per share. Again no more deals were struck as offer price closed at GHc 1.24 per share.

The Fan Milk price gain helped drive Ghana Composite index up by 1.34 points to 2947.41 from Monday's 2946.07 which was a decrease on last week's close.

This GCI push upwards was also helped by Ghana Commercial Bank's rise by GHc 0.01 per share as 3100 of its shares traded at GHc 5.01 per share. However, bid price reverted to GHc 5 per share by the close of the day.

On the other hand, Total Ghana applied some pressure downwards as it hit a new year low of GHc 4 per share to exchange 100 units; down GHc 0.05 per share. Even at that, it closed on offer at this new low without more takers.

Interestingly too, Unilever Ghana rose a little to GHc 17.82 per share to record deals for 6,200 units but could not sustain the gain and closed back at GHc 17.81per share, the original price, on bid without new takers.

NAIROBI SECURITIES EXCHANGE:

TRADE DOWN, INTEREST UP


After recovering easily from Friday's near year low, on Monday, traded volume on Tuesday July 17, 2018 at the Nairobi Securities Exchange closed down but investors interest as measured by number of deals remained up.

Total number of deals for the day was 1467 compared to 1247 previously but traded volume closed at 13.172m shares as against 23.561m on Monday.

Safaricom still paced with deals for 3.96m shares which lower than its Monday's trade followed by Equity group in the banking sector with deals for 1.792m shares.

Other top trades were KCB Group's 1.424m shares and ARM Cement's deals for 1.287m shares.

The All share index rose by 1.16 points to 172.22 even as only 13 price gains amidst 23 price drops were recorded.

Top gain was by Total Kenya as it closed up by Ksh 2.25 per share followed by Standard Group with Ksh 2 per share rise.

On the other hand, Jubilee Holdings went down Ksh 10 per share to pace the pressure on the ASI downwards. It hit day high of Ksh 520 per share then closed at a  low of Ksh 519 compared to Ksh 529 previously.

British American Tobacco also lost Ksh 5 per share  followed by Centum Investment with Ksh 2.75 per share decline and Sanlam Kenya down Ksh 2.50 per share.

Hence, the ASI closed up mainly as Safaricom joined the fewer gainers with Ksh 0.50 per share .

At the bond market, traded value eased again to Ksh 1.50bn in 52 deals from Monday's Ksh 2.047bn in 43 deals.


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