JULY 24,2018: NESTLE NIGERIA UP N20 BUT.....

At Nairobi, Nigerian and Ghana stock markets on Tuesday July 24, the common denominator was decline by all inclusive index.

NIGERIAN STOCK EXCHANGE:

THE PRESSURE THIS TIME.

After ending with some resilience at the start of the trading week on Monday July 23, at the Nigery Stock Exchange, the All share index closed down once again on Tuesday, July 24, 2018.

It ended the day at 36,455.24, down 256.22 points or 0.70% on Monday's 36,711.96.

This was as number of price gains outstripped price drops but more importantly, once again, as Dangote Cement closed in the price losers camp.

Dangote Cement N1 per share while witnessing 113 deals for 2.125m shares valued at N499.354m.

But this decline was not amongst the day's top 5. Indeed, about 6 equities ended the day down by more than N1 per share.

The losers were paced by Beta Glass down N8.1 or 10.0% per share as 3 deals were recorded covering 0.162m units worth N11.878m.

It was an even decline for Beta Glass as it simply found and closed the day at N72.9 per share compared to N81 per share previously.

Other top price drops were Presco's N6.6 or 9.98% accompanied with 63deals for 1.046m shares and La Farge Africa's N3.25 or 2.31% per share in 108 deals for 3.792m shares worth N110.879m.

On the other side of the coin, there were only 2 price increases above or at N1 per share.

Nestle  Nigeria, that a few day's back consistently lost leading Naira, rallied very strongly closing up N20 or 1.40% per share as 1.355m shares changed hands in 56 deals worth N352.49m.

Trading activity improved considerably with traded value ending at N4.418bn  from N2.208bn on Monday; traded volume rising from 226.272m shares to 378.698m while deals struck came to 4551 from 3624.

Lead volume was recorded by Medview Airlines as in just 6 deals, 100m units changed hands for N210.613m.

Other major ones were Zenith Bank's leading 42.715m shares in leading 438 deals involving 45.50m shares and Transcorp's 45.50m shares exchanged for N54.289m. 

NAIROBI SECURITIES EXCHANGE:

...AND PRESSURE NOW

At the Nairobi Securities market, the All index also closed down but by 0.05 points to 172.38 on Tuesday July 24 2018 after recovering by 0.06 points to 172.43 previously.

This was as price gains and drops levelled at 15 apiece and with Safaricom come closing firm amidst relatively very low trade.

I&M Holdings led the market in terms of drops as it shed Ksh8 per share followed from a distance by Ksh 1 per share decline by Nation Media.

On the other side, gainers were paced by East African Breweries up N4 per share followed by Standard Group's Ksh 1.75 per share and Car & General's Ksh 1.7 per share.

The banking sector dominated trade in the absence of a dominant Safaricom amidst relatively lower trade too in equities like East African Breweries.

Of the Ksh 349.1m traded value recorded, Banking accounted for 84.34% at Ksh 294m with Equity Group leading all by witnessing deals for 4.727m shares worth Ksh 236m.

On other hand, the bond market was far more active ending with Ksh 3.5bn traded value compared to only Ksh 887m on Monday, July 23, 2018.

GHANA STOCK EXCHANGE:

COMPOSITE INDEX UP

On Tuesday July 24, unlike for the other two stock markets, the Composite index rose by 1.65 points or 0.056% to 2942.85 even price drops and gains were 3 apiece.

Among the gainers Enterprise Group ltd and Ghana commercial bank rose by GHs 0.03 per share each while the 3rd gain was Societe General's GHs0.006 per share.

EGL recorded deals for 300 units at GHs3.03 per share; SOSEGH rose by GHs
0.006 per share while deals for 600 units were being struck at GHs 8.50 only to close firm at GHs 8.17 per share.


.The 3 price drops were recorded by Benso Oil Palm Plantation, Tullow Oil plc and Ghana oil plc..

BOPP shed GHs 0.03 per share while recording deals for 200 units at GHs 7.29 per share down GHs 0.03 per share.

Ghana oil lost GHs 0.02 per share as 1100 units were traded at GHs 3.99 per share and TLW shed GHs 0.38 per share as 470 units changed hands at GHs 12 per share.

In all 508,029 shares were traded compared to 332,648 on July 23 2018.

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