AUG 28 2018: ABOUT TURN TUESDAY AT STOCK MARKETS

At the Nairobi,  Nigerian and Ghana Stock Markets on Tuesday August 28 it was a case of about turn on Monday trend.

NIGERIAN STOCK EXCHANGE:

The Nigerian Stock Exchange once again on Tuesday August 28 2018 reversed direction as the All share Index closed up by 0.58% to 35,516.21 as many hitherto very active companies closed firm.

Hence the ASI closed up more because margin of gains recorded were well ahead of drops.

The top price decrease was N1 or 6.67% per share recorded in GlaxoSmithkline as it found and closed at N14 per share compared to N15 on Monday.

This was accompanied by 18 deals for 0.121m shares worth N1.738m and all other price drops were below  N1 per share.

Total  Nigeria, on the other hand, led gainers with N9 or 4.97% per share closing at day high  N190 per share as against N181 on Monday.

This was as it recorded 27 deals involving 0.513m shares worth N93.246n. Total also paced gains on Monday at the end of it, Dangote  Cement decisively helped the ASI  down by shedding N5 per share.

Flour Mills followed with N1.20 or 5.08% per share climb while witnessing 98 deals for 3.715m units worth N89.688m and N1 or 2.63% per share rise by Guaranty Trust Bank.

GTB closed the day with 197 deals for 6.549m shares valued at 2nd day high N249.67m.

Compared to Monday trade improved remarkably as 339.686m shares changed hands as against rather low 178.81m while traded value rose to N5.5bn more than double N2.02bn on Monday.

Top traded value was recorded as Stanbic IBTC 72.35m shares changed hands in 32 deals worth N3.611bn but top volume was witnessed by Hallmark Insurance as 7 deals were struck for offload of 99.953m shares worth N30.985m.

However, UBA still led number of deals with 296 deals involving 13.813m shares worth N114.97m.

NAIROBI SECURITIES EXCHANGE

At the Nairobi Stock market it was all round about turn Tuesday August 28 2018 as even the bond market recorded improved trade.

The All share index which dropped by 0.95% on Monday had recovered by 1.85 points or 1.08% to 173.18; traded volume closed at 28.52m shares from just 7.978m and traded value came to Ksh 539.9m from Monday's Ksh 270.3m.

Even the number of deals struck increased from 1056 on Monday to 1258.

Interestingly, the ASI strong rally was against the grain of numbers because 27 price drops and only 10 gains were recorded at the end of the day.

Top gain was by Diamond Trust Bank as it closed at Ksh 190 compared to Ksh 184 previously.

Standard Group too rose by Ksh 2.25 per share but the swinger as far as ASI growth was concerned was Ksh 0.75 per share gain by top weighted Safaricom.

The leading price drop was by Jubilee Hokdings down 10 per share and British American Tobacco down Ksh 4 per share. 

Other major price drops were Standard Chartered Bank down Ksh 2 per share; and Ksh 1.75 per share decline each by Total Kenya and Unga group.

The surge in traded volume was not powered by Safaricom but by offload of sorts in Kenya Power & Lighting, and rare deals in others like WPP Scan Group.

Kenya Power, in an offloading not seen for a long while, witnessed deals for 7.432m shares worth Ksh 43m at between Ksh 5.75 and 5.95 per share.

On the other hand Safaricom trailed with deals for 4.929m shares at between Ksh 29 and 30.50 per share worth Ksh 147m while Uchumi Supermarket recorded deals for 4.11m shares .

The banking sector accounted for 49.96% of traded value or Ksh 267m with Equity Group pacing with deals for 3.91m shares worth Ksh 194m at between Ksh 49 and 49.50 per share.

GHANA STOCK EXCHANGE

In the case of the Ghana Stock Exchange, about turn meant downwards shift from the upswing of Monday August 28, 2018.

The Composite Index declined by 17.39 points or 0.59% to 2926.67 and traded volume dropped to 389,839 shares from Monday's 571,842.

It was a day of price drops and no gains as 5 price changes recorded trended down.

Ghana Oil set the pace with GHs 0.15 per share drop to record deals for 75,600 shares at GHs 3 per share compared to GHs 3.15 on Monday.

This was followed by Trust Bank Ltd, a company based in Gambia, with GHs 0.05 per share decline after recording exchange of 8100 shares at GHs 0.26 per share compared to GHs 0.32 previously.

The 3 other price drops were each GHs 0.01 per share by CAL Bank as 300 units were exchanged at GHs 1.26 per share ; Enterprise Group while recording day high 400,000 shares traded volume and Ecobank Transnational in which 2700 shares changed hands at GHs 0.22 per share.

Most of the equities closed on offer (15), as 9 ended with bid and offer prices not matching and only one equity. Ayton Drug Manufacturing Company closing on bid.


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