AUG. 14 2018: NIGERIAN STOCK MARKET STILL DOWN BUT. ...

On Tuesday, the Nigerian Stock Market still headed down while Nairobi and Ghana were looking up.

NIGERIAN STOCK EXCHANGE:

The cloud over the Nigerian Stock Exchange all through last week still refused to go away and for the second day Tuesday August 14, expectations were not rosy.

The All share index declined by 0.35% to 35,288.13 as if the new all year low slide was not in a hurry to find a bottom.

International Breweries led price gains with a solo rise by above N1 per share. It gained N1.45 or 5.23% per share while witnessing 19 deals for 3.511m shares valued at N113.63m.

International Breweries had closed Monday at N33.45 per share, hit another day low at N32 before ending the day at N35.2 per share.

NASCON Industries trailed with N0.55 or 2.76% rise as 69 deals for 1.647m shares worth N32.60m.

At the front of price drops was Flour Mills down N2 or 8.33% per share as 114 deals were struck involving 2.175m shares worth N50.167m.

Flour Mills had ended at N24  per share and slipped through Tuesday.  First it dropped to N23.55 per share then slipped further to close at N22 per share.

Conceded trading recovered slightly with traded volume at 164.5m shares exchanged compared 160.4m on Monday in 3448 deals valued at N1.612bn as against higher N2.214bn traded value the previous week.

Once again, no major offloads and the improved volume was clocked from scattered volumes sold. Top of the bill was UBA's 26.867m shares exchanged in 147 deals valued at 2nd highest N250.66m.

However, Zenith Bank continued to pace deals with 288 deals for 5.72m shares for N134.048m.

NAIROBI SECURITIES EXCHANGE:

At the Nairobi stock market, expectations remain positive  and so for the 3rd day, the All share index closed up 0.97 points to 174.48 even as 17  price drops almost equalled 18 price gains.

BOC Kenya led gains with Ksh 7 per share increase as it found and closed at Ksh 83 per share compared to Ksh 76 the previous day.

Crown Paints added to the pressure on ASI upwards by ending the day up Ksh 5.50 per share followed closely by Stanbic Holdings as it gained Ksh 4.50 per share.

Then, of course, Safaricom added its own shoulder to the wheel by closing with Ksh 0.25 per share in addition to Ksh 1.25 and 1.00 per share top ups by Centum Investments and Total Kenya respectively.

On the other hand, price drop margins were relatively lower with top drops being Ksh 1.00 per share slide by the duo of Williamson Tea and East African Breweries.

Trading improved greatly with traded volume came to 20.8m shares compared to 10m on Monday and number of deals rose to 1321 from 1003. There was also a rise in traded value to Ksh 686.8m from Ksh 524.7m.

Safaricom led with deals for 7.527m shares worth Ksh 274m at between Ksh 28.50 and 29 per share. This though accounted for only 31.51% of the day's traded value.

The banking sector dominated value with 64.47% as Equity group 6.123m shares changed hands at Ksh 51.50 and 53 per share valued at Ksh 324m and as KCB Group recorded deals for 1.631m shares worth N81.6m.

GHANA STOCK EXCHANGE:

In the case of the Ghana Stock Exchange, still robust price changes continued to drive the Composite index up this time by 7.9 points or 0.27% to 2905.57 from 2897.67.

There were 7 price changes on Tuesday August 14 out of which 4 were gains.

The leading gain strong as Ecobank Ghana scaled GHs 0.10 per share to record deals for 2600 units at GHs 8.40 per share. EGH closed Tuesday at GHs 8.30 per share but stayed firm at GHs 8.40 even as bid price eased back to the starting price.

However, the 3 other gains were much lower GHs 0.01 per share margin. Enterprise Group rose to GHs 3.11 per share from GHs 3.10 to record deals for 800 units; and Ghana Commercial Bank rose to GHs 5.18 per share as 600 shares were sold. In the case of GCB though offer price closed at GHs 5.20 per share.

Finally, while witnessing deals for 2nd highest traded volume of 75,400 shares rose to GHs 0.24 per share from Ksh 0.23. More shares were still on offer but bid price had slipped back to GHs 0.23 per share.

On the other side of the coin, Ghana Oil recorded leading traded volume at 94,800 shares exchanged GHs 3.29 per share each , down GHs 0.04 per share.

Goil closed Tuesday at GHs 3.33 per share and interestingly, bid price headed down some more by closing at GHs 3.20 per share without additional deals.

Standard Chartered Bank shed GHs 0.02 per share to record deal for just sent 30 units at GHs 26.01 per share then close at GHs 26 per share, down GHs 0.02.

Traded volume almost dropped 50% to 265,331 from Tuesday's 507,703 and of the 11 equities with deals, 7 recorded price changes.

By Monday, the Bond market recorded 128 deals worth  GHs 88.279m.

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