AUG. 15, 2018: STOCK MARKETS: TUG OF THE HEAVYWEIGHTS

At both Nigerian and Nairobi stock markets on Wednesday August 15, 2018, it was clearly a case of tug of war between heavyweights to determine the direction of the All share index.

NIGERIAN STOCK EXCHANGE:

At the Nigerian Stock Exchange, it was an easy win for top priced Nestle Nigeria as it tumbled N60 or 9.68% per share.

As a result, the All share index dropped yet again , this time by 0.62% to new year low, 35,069.34.

Nestle had found and closed at N1500 compared to N1560 the previous day while recording 61 deals for 0.081m shares worth N122.313m.

But Total Nigeria did try a solo amongst price gainers to apply pressure on the ASI upwards. It also found and closed at N190 per share from N185, up N5 or 2.7% per share to witness 18 deals involving 0.122m units valued at N23.23m.

Besides these two leading price changes, all others recorded on Wednesday were below N1 per share.

However, there was improvement in trading activities with traded volume closing at 209.54m shares as against 164.5m previously; traded value ending at N2.90bn from N1.61bn while number of deals struck came to 4044 compared to 3448 on Wednesday.

United Bank For Africa once again led traded volume with 28.267m of its shares changed hands in 178 deals worth N255.039m. UBA closed down N0.2 per share eventually.

Lead traded value was Guaranty Trust Bank's N785.449m  for 20.647m shares traded through 260 deals was GTB went down N0.2 per share.

In both volume and value Zenith Bank paced the market in number of deals and. was second in both value and volume. It recorded 408 deals for N518.4m.

NAIROBI SECURITIES EXCHANGE:

At the Nairobi stock market on Wednesday August 15, 2018, the tug was between Diamond Trust Bank and British American Tobacco.

There were 17 price gains and 19 drops and both were led by equities with rather high margin price changes. 

DTB found and closed the day at Ksh 180 per share compared to Ksh 197, that is, down Ksh 17 per share. It was trailed from quite a distance by Equity Group down Ksh 1 per share.

On the  other hand, the fewer 17price gains were led by BAT actively supported by BOC Kenya;  and Stanbic Holdings.

BAT closed Ksh 20 per share up as it found and ended the day at Ksh 620 per share as only 100 units changed hands 

BOC Kenya followed with Ksh 8 per share price increase ahead of Stanbic Holdings Ksh 6 per share top up.

Being top capitalised, Safaricom offered a helping push as it closed Ksh 0.25 per share even though well behind Ksh 2 per share gain by Crown Paints and Kapchorua Tea's Ksh 1.50 per share increase.

Trade eased for the day compared to Tuesday as traded volume stood at 16.358m shares compared to 20.8m before; traded value closed at Ksh 567m and number of deals dropped to 1062 from 1321.

Top volume was by Safaricom in which 8.72m shares changed hands followed by Equity Group with deals for 3.97m shares; Ken Gen (1.999m shares) and KCB Group with deals for 1.366m units.

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