JULY 20, 2018: STOCKS: BOUNTIFUL AND LEAN TOO?

Of the three stock exchanges reviewed daily by Henates, trade was bountiful for Nigerian and lean for Nairobi on Friday July 20 2018 but what about at Ghana?

NIGERIAN STOCK EXCHANGE:

BOUNTIFUL FRIDAY

At the Nigerian Stock Exchange it was a clear case of bountiful harvest in both traded volume and price on Friday July 20 2018 although not in year high terms.

Traded volume jumped to 679.977m shares from Thursday's 296.59m and the All share index closed up for the first time in the 5 day week despite intense pressure from Nestlé Nigeria led 27drops and only 22 gains.

The ASI rose by 0.37% to 36,603.44 after going down all 4 earlier days in the week. It shed 0.34% on Monday, 0.81% on Tuesday; and 0.58% on Wednesday before losing 0.76% on Thursday.

The Friday ASI rally was led by top capitalised Dangote Cement with N4.7 or 2.04% per share rise to N234.7 per share after slipping to day low of N228.8 from Thursday's N230 per share.

Dangote Cement witnessed 53 deals for 0.393m shares worth N91.4m.

That Dangote Cement depressed the lever for ASI becomes more obvious not only because of the lower number of gainers compared to losers, but also because it was trailed by N1.9 per share top up each by Cement Company of Northern Nigeria and Nigerian Breweries.

On the other hand, for the second day top priced Nestlé Nigeria shed some Naira by going down N12.3 or 0.85% per share to pace price drops.

Nestlé simply found and closed at N1430 per share compared to previous N1442 while recording 46 deals for 0.085m shares valued at N121.434m.

Other major price drops were Presco's N7.35 or 10% per share decline; Dangote Sugar's N1.8 or 9.23% per share; international breweries N1.7 or 4.34% and La Farge Africa's N1.5 or 4.44% per share increase.

But it far more bountiful in terms of traded volume. Four equities recorded offloads led by Sterling Bank with investors interest not quite it used to be for the bank 

A total of 317.002m shares of the bank was exchanged in 156 deals (just, by its own standards) valued at N443.12m. Interestingly, Sterling Bank closed firm atop of that.

Medview Airlines followed with only 4 deals for 100m shares worth N214m and the day was not done.

Zenith Bank also recorded leading 320 deals involving 64.927m shares valued at day high N1,493.64m while closing N0.05 per share up 

Last but not the least, Law Union & Rock Insurance recorded deals for 50.065m shares worth N50.061m.

However, because most of the top trades were in low priced equities, traded value dropped to N3.902bn from N4.862m.

NAIROBI SECURITIES EXCHANGE:

TRADE VOLUME AT YEAR LOW?

In sharp contrast to the Nigerian market, it was lean Friday at the Nairobi Securities Exchange on July 20 as traded volume closed at what, from Henates records, looks like year low.

In all only 8.816m shares were traded compared to 16.425m on Thursday and the nearest to this bottom could come up with was June 26's 9.101m shares exchanged for N223.167m.

It was a strange day indeed for traded volume because only Safaricom recorded deals for above 1m shares. It witnessed trading of 3.537m shares almost half of the total traded volume.

That was not all. After 3 days of consistent rise in the All share index, it tumbled by 1.74 points to 172.37 on Friday thus punctuating gains handed down each day after Monday July 16's rally during the week. 

Yet there were 18 price drops and 13 gains with Jubilee Holdings leading price drops with Ksh 17 or 3.28% per share tumble as it closed at Ksh 502 per share.

It was trailed by Williamson Tea from afar with Ksh 2 or 1.45% drop to Ksh 136 per share and Standard Group down Ksh 1.25 or 3.76% to Ksh 32 per share.

Safaricom went down too but this time by Ksh 0.75 or 2.56% per share to close at Ksh 28.50 per share.

The gainers were led by East African Breweries as it rose 1.84% or Ksh 4 per share to end the day at Ksh 221 per share.

Other major gainers include Centum Investments' Ksh 2 or 6.15% increase to Ksh 34.50 per share; and Ksh 1 per share gains by Stanbic Holdings, and Standard Chartered Bank.

GHANA STOCK EXCHANGE:

NEITHER BOUNTIFUL, NOR LEAN

At the Ghana Stock Exchange it was a bit difficult to say if Friday July 20 2018 was a bountiful or lean end to the trading week.

Traded volume closed the day at 356,189 shares which was more than 3 times the July 19's 110,598 units but amounts to little when compared to Monday's all week peak of 2.817m shares.

The low for the week was however Wednesday's very lean 63,602 shares but Tuesday's 494,177 shares traded also surpassed the Friday figure by a large margin.

On the other hand, the Ghana Composite Index went through the week down one day, up the next. 

On Monday it closed at 2946.07; increased to 2947.41 on Tuesday ; declined again to 2933.89 by Wednesday then closed at higher 2942.14 the next day.

Finally, on Friday July 20 2018, it ended at 2940.77, down 1.38 points or 0.047%.

This time the GCI was depressed by the 2 price changes recorded. Ecobank Ghana recorded deals for 329 units at GHc 8.17 per share, down GHc 0.094 per share.

Starwin Products ltd closed with the other price change as its 292,600 shares were exchanged at GHc 0.01 per share resulting in GHc 0.01 per share drop.

SPL, though, ended up being the main contributor to traded volume within the day followed by 34,200 units exchanged in Enterprise Group at GHc 3.02 per share.

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