AUG 27, 2018: DOWN MONDAYj EXCEPT AT GHANA STOCK EXCHANGE

At the 3 stock markets monitored by Henates it was a case of decline Monday except at Ghana Stock Exchange where growth occurred in composite index but not in trade.

GHANA STOCK EXCHANGE:

At the Ghana Stock Exchange the last week in August took off with 3.81 points or 0.13% growth in the Composite index to 2943.67 from Friday's 2939.83.

This was as 4 price gains and one drop were recorded with margins that hinted at better prospects and expectations.

Top of the bill was Total Ghana's GHs 0.09 per share gain to record deals for just 200 shares at GHs 4.60 per share after closing Friday at GHs 4.51 per share. More deals could have been struck but offer price further rose to GHs 5.11 per share.

Other gains were Standard Chartered bank's GHs 0.04 per share rise as 510 shares changed hands at GHs 26.15 per share; Ghana Commercial bank's top up with GHs 0.03 per share as 10,700 units were sold and Societe Generale's GHs 0.01 per share increase accompanied by deals for 25,700 shares at GHs 1.23 per share.

The lone drop was recorded by Ecobank Ghana GHs 0.01 per share to witness exchange of 200 units at GHs 8.97 per share after closing last Friday at GHs 8.98 per share. However, its bid price dropped further to GHs 8.10 per share.

Traded volume however, declined to 389,839 shares from Friday's week high 548,790 units but it was a figure higher than other daily volumes recorded last week.

Leading trade was recorded in Enterprise Group in which 351,400 shares were exchanged at GHs 3.10 per share without change on Friday's level.

The day also closed with 6 equities  with bid and offer prices that didn't match; 14 on offer and 5 on bid.

NIGERIAN STOCK EXCHANGE

On Monday August 27, 2018 at the Nigerian Stock Exchange the All share index not only dropped but trade also hit a new low.

The ASI declined by 0.32% to 35,311.36 from Friday's 35,426.21 thus recording 114.85 points drop.

Naturally, top weighted Dangote Cement paced the down swing as it lost N5 or 2.13% per share while recording 42 deals for 0.191m shares worth N43.6m.

Dangote Cement closed the day at N230 per share after hitting day high of N235 anf low of N217.2 per share after recent move upwards which led to topping of gains last week.

It was joined by Unilever Nigeria with more than N1 per share decline as it went down N1.5 or 2.86% to record 73 deals involving 3.1m shares worth N156.23m.

Total Nigeria, on the other hand led gainers with N3.4 or 1.91% per share rise to close at day high of N181 per share compared to N177.6 per share on Friday.

It was also joined by Flour Mills with above N1 per share gain as its 103 deals for 4.48m shares at N12.099m were accompanied by N2.1 or 9.77% per share rise.

The tumble in trade was more remarkable as traded volume came to 178.8m shares compared to 527.74m shares on Friday; traded value closed at N2.02bn, less than 50% of Friday's N4.526bn and deals struck stood at 2981 compared to 3313 previously.

High offloads were no where in sight and top volume was NAHCO's 19.22m shares exchanged through 15 deals worth N73.04m.

Top traded value was Zenith Bank's N230.4m for 10.46m shares sold in 251 deals while leading deals were struck as in 255 deals UBA's 10.74m shares went for N87.19m.

NAIROBI SECURITIES EXCHANGE

In the case of Nairobi Securities Exchange, on Monday August 27, 2018, the All share index declined by 0.95% or 1.65 points to 171.33 and trade also hit new bottom.

The ASI decline was not surprising even though Safaricom closed firm. This was because price drops were not only dominant (25 drops, 10 gains) but also the margins of decline were really high.

British American Tobacco shed hefty Ksh 13 per share as it found and closed at Ksh 605 per share from previous Ksh 618 followed by Ksh 11 per share decline by East African Breweries as it closed at Ksh 194 per share after hitting day high of Ksh 195 and low of Ksh 191 per share compared to Ksh 205 on Friday.

Other major price drops were Stanbic Holdings Ksh 6 per share decline; Kapchorua Tea's Ksh 3 per share and Standard Chartered Bank's Ksh 2 per share.

Indeed, of 10 price changes in the banking sector, only Diamond Trust Bank closed up just all agriculture and manufacturing price changes ended down.

The fewer gainers were led by Crown Paints up Ksh 6.50 per share on Friday's Ksh 72 per share as it closed at Ksh 78.50 per share after touching day high of Ksh 79 and low of Ksh 70 per share.

Traded volume declined by almost 50% to 7.97m shares from Friday's 13m and traded volume dropped to Ksh 270.34m from Ksh506.65m while deals strucj eased to 1056 from 1115.

Equity Group paced traded volume and value as it witnessed deals for 3.15m shares worth Ksh 156m at between Ksh 49 and 50 per share followed by Safaricom with deals for 1.647m units valued at Ksh 48m.

At Ksh 2.827bn in 78 deals compared to Ksh 2.29bn in 40 deals, the bond market recorded increased interest but with marginal change in value traded.

Government stocks with below Ksh 50m nominal value were more active with 28 recording deals but with 11 with deals, above Ksh 50m nominal value as usual dominated traded value while no corporate stocks recorded deals.

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