JULY 30, 2018: TRADED VALUE LEAPS AT NAIROBI SECURITIES EXCHANGE

Nairobi. Securities Exchange started the current week on Monday July 30 2018 with a 313.7% leap in traded value while Nigerian and Ghana markets managed slight growths.

NAIROBI SECURITIES EXCHANGE:

VALUE LEAPS AHEAD VOLUME

Trading at the Nairobi Securities Exchange ended July 30 2018 with traded volume more than doubling to 22.118m shares but the resultant traded value grew by 4 times to Ksh 1.128bn compared to Ksh 272.746m for 10.189m shares on last Friday.

This was as Safaricom traded volume recovered but more importantly, deals were struck in high priced British American Tobacco and East African Breweries involving traded volume above recorded volumes all through last week.

By last Friday close, BAT and EAB had recorded deals for 346,000 and 417,000 total through the week but on Monday this week alone they posted deals for 835,500 and 421,100 shares respectively.

The BAT deals were at firm price of Ksh 620 per share while EAB eased by Ksh 2 per share to close at Ksh 225 per share from Ksh 227 per share previously.

On its part, Safaricom recorded deals for market leading 11.459m shares without price change.

Other top trades include KCB's 2.36m shares traded volume; HF Africa's 1.895m shares ; ARM Cement recorded deals for 1.168m shares and CIC Insurance witness of exchange of 1.105m shares.

However, in spite of the leaps in trade, the All share index dropped by 0.19 points to 172.28  as 23 price gains and 11 drops were recorded most of the price changes were on the low side, relatively.

TPS Eastern paced gains with Ksh 2 per share followed by Stanbic Holdings Ksh. 1.50 per share increase and E A Portland Cement's Ksh 1.45 per share top up.

TPS actually closed against the mini trend in the Commercial and Allied sector where of 7 price changes, 5 were down.

On the other hand, Diamond Trust Bank and Crown Paints closed down Ksh 3 per share each to top price drops with Total Kenya, down Ksh 2.75 per share and Jubilee Holdings and EAB in tow as they shed Ksh 2 per share each.

NIGERIAN STOCK EXCHANGE:

INDEX UP, TRADE EVEN.

In the case of the Nigerian Stock Exchange on July 30, 2018 the most significant thing was that All share index rose by 0.84% to 36,946.05 although both traded volume and value did not change much.

As the day closed, 31 price gains and 21 drops were recorded hence it was not surprising that the ASI ended up.

However, the main driver seems to be N62.5 or 10% gain by high priced Seplat Petroleum as 10 deals were sealed for 0.013m shares worth N9.607m.

Seplat simply found and closed at N687.5 per share as against N625 per share previously.

The nearest top up to this stride was Flour Mills N2.2 or 8.09% per share accompanied by 34 deals for 0.193m worth N5.608m and Stanbic IBTC up N1.25 or 2.57% per share with 13 deals involving 0.102m shares valued at N5.109m.

On the other hand, Total Nigeria led Price drops with N16.8 or 8.41% per share as 20 deals resulted in exchange of 0.056m shares worth N10.6m.

Only 2 other equities declined by above N1 per share: Con oil shed N2.7 or 10% per share accompanied by 15 deals for 0.14m shares worth N3.45m and Cement Company Of Northern Nigeria with N1.35 or 4.31% per share decline.

Traded volume rose to 319.4m shares from last Friday's 311.366m as Medview Airlines paced once again with 100m shares offload snapped up in 7 deals worth N193.017m while closing N0.21 per share down.

Traded value, in contrast, shrunk to N3.048bn from N3.489bn even as top priced Nestle Nigeria chipped in leading N1.21bn for 45 deals involving 0.806m shares while closing N1 or 0.07 per share up.

Sterling Bank was back in form in terms of number of deals as it paced the market once again with 445 deals for 2nd ranked 34.03m shares valued at N47.160m while closing N0.03 per share down.

GHANA STOCK  EXCHANGE:

INDEX DOWN  MARGINALLY

In the case of the Ghana Stock Exchange, there was a very marginal drop in the Ghana Composite Index to 2932.01 from Friday's 2932.77 on Monday July 30 2018.

This was as 3 price drops and 2 gains were recorded as 12 equities closed with deals.

SIC Insurance paced price drops with GHs 0.05 per share decline as 1000 units were traded at GHs 0.30 per share. It had closed last Friday at GHs 0.50 per share.

However, more deals could not be struck even though it closed on offer at the new price.

Standard Chartered Bank and Societe Generale Ghana both ended the day down GHs 0.01 per share. 

SCB recorded the drop while 12,070 shares changed hands at GHs 24 per share then closed at GHs 25.99 per share compared to GHs 26 on Friday.

Closing bid and offer mistmatch was recorded though as bid stayed at GHs 24 while offer recovered to old GHs 26 per share. 

No more deals too were forthcoming in Societe after 1100 units changed hands at GHs 1.24 per share compared to GHs 1.25 per share on Friday.

No more deals because bid price slipped further to GHs 1.22 per share as offer remained unmpved at GHs 24 per share.

The 2 price gains were GHs 0.01 per share. Ecobank Ghana rose to GHs 8.22 per share to record deals for 1300 units from Friday's GHs 8.21 but offer price subsequent jump to GHs 8.50 failed to record more deals.

On the other hand, Enterprise Group witnessed deals for 24,500 shares at 3.05 per share compared to GHs 3.40 on Friday but ended on bid at GHs 3.01 per share without additional deals.

In all 140,221 shares were traded  up marginally on Friday's 114,194 units as Starmin Products ltd paced traded volume with 65,400 shares traded at GHs 0.01 per share closing with offer price of GHs 0.02 per share as bid stayed firm at GHs 0.01 per share.

Comments

Post a Comment

Popular posts from this blog

2018: TWO BLOWS TO UNITED CAPITAL PLC.

When a child who in a previous examination scored 80%, comes home with a new report in which he now scores 67.2%, the parents have a right to sit him down and ask how come. So it must be between Nigeria's United Capital Plc and its discerning shareholders since the release of the company's 2018 audited figures. In 2018, all said and done, says the annual report, United Capital ended with 67.2 % profit margin compared to 80.2% in 2017. How come? What comes across from the figures was that the company received 2 blows to the jugular in 2018: Sharp drops in Investment income and fair value gain. Investment income dropped by 10.8% to N4422.8m from N4965.2m while fair value on financial assets plunged by 79.7% to N6.173m from 2017's N30.387m. In view of both drops, the group's gross earnings grew by only 33.9% to N9259.4m despite strong growths in net trading income, and net operating income leap to N757.5m from N143.5m  Other income streams ended with single digit increase....
Read more

KENYA AUCTIONS Ksh 13.84bn Treasury Bonds.

The Central Bank of Kenya (CBK) will from Tuesday December 18 to 27th 2018_ auction Ksh 13.84bn worth of fixed income Treasury Bonds with issue date December 17, 2018. According to official statement from the Director of Financial Markets Irene Njiru on Monday December 17, auction will continue throughout the stated period or close once the target money to be raised is reached, whichever comes first. Bid value will be paid for at most by 2pm December 31, 2018 while auction results will be made public on December 28, 2018 after the scheduled closing date. The bonds are being issued at 12.502% fixed interest at an adjusted average price of Ksh 100.468 for Ksh 100 bond. However, price payable after auction results publication will be average of successful bid prices based and allotment will be on first come first served basis. Meanwhile, the monetary operations and debt management department has released the interest payment schedule for 13 Treasury Bonds due January and February 2019. Th...
Read more

NAIROBI SE's HIGH PRICED EQUITIES.

In the wake of Nigeria's high priced quoted companies posted in this blog a while ago, Henates took a look to at Nairobi Securities Exchange June 23 official list to identify its high priced equities and the outcome was interesting too. Of the 66 companies quoted on the market by June 23, 15 or 22.7% were valued averagely at above 30 times nominal value. A word of caution though: There are two clear differences between the Nigerian stock market list and that of Nairobi: In the Nigerian one most listed companies have par or nominal value of N0.50 as is there is an implied agreement on this. On the other hand, at Nairobi most of the equities do not share common par value, they differ greatly. Then another thing, Nigerian equities are not valued below par, Nairobi ones can and many are so valued. Of the top 15 high priced equities at the Nairobi market, Safaricom topped with because by June 23, at 23.25 Ksh average price, it was valued 465 times its nominal value of just 0.0...
Read more