AUG. 29 2018: THE RACE DOWN BEGINS?

At the markets monitored daily by Henates on Wednesday August 29, 2018, it was looking like the race has begun to determine who will go down faster.

NIGERIAN STOCK EXCHANGE

At the Nigerian Stock Exchange, the All share index resumed  downwards after the relief of Wednesday rally. It dropped by 0.44% to 35,358.94.

This was as price drops far outnumbered gains and also the recorded higher margins as well.

Only 2 price gains were above N1 per share  compared to top 4 price drops.

Total Nigeria led gainers with N2 or 1.05% top up to close at N192 per share its day high after a low of N189 and in contrast to previous day's N190 per share. 

Total ended with 32 deals for 0.34m shares worth N65.388m.

It was followed by PZ Cussons as it gained N1 or 7.14% to record 24 deals involving 0.196m shares valued at N2.857m.

On the other hand, Flour Mills topped price drops with N1.75 or 7.06% per share as it found and closed N23.05 compared to N24.5 per share previously.

It recorded 53 deals which resulted in the exchange of 0.476m shares for N11.207m.

It was followed by La Farge Africa, down N1.5 or 5.56% per share while 51 deals were being sealed for 0.535m units worth N14.1m.

Also worth noting were N1 per share decline each by Unilever Nigeria and Dangote Cement.

Trading volume was higher at 345.05m shares but traded value dropped to N2.26bn from N5.50bn and total deals eased to 3261 from 3394.

Relatively low priced NEM Insurance dominated volume as an offload of 180.05m shares took place in 41 deals worth N540.133m while closing firm.

However, UBA once again paced deals with 369 deals struck for 2nd ranked 27.198m shares valued at N221.453m.

NAIROBI SECURITIES EXCHANGE

On Wednesday August 29 2018, the Nairobi stock market witnessed decline in both trade and the All share index. 

The ASI went down by 0.07 points or 0.04% as 17 price drops and 12 gains were recorded.

Lead drop was Ksh 4 per share recorded by I & M Holdings  as it found and closed at Ksh 100 per share compared to Ksh 104 previously.

Other major ones were Ksh 2.25 per share by Standard Group, Ksh 2 per share decline by Nation Media and Car & General's Ksh 1.50 per share.

Top gain was by British American Tobacco which on Tuesday had lost Ksh 4 per share and now rallied with Ksh 9 per share to close at Ksh 610 per share.

BAT was trailed by Sanlam up Ksh 1.25 per share and East African Breweries with Ksh 1 per share gain.

Traded volume came to 12.659m down by more than 50% from previous day's 28.52m shares while traded value dipped at a lower rate to Ksh 399.44m from Ksh 539.9m.

There was drop in number of deals as well from 1258 on Tuesday to 1091.

Despite the drop, unlike Tuesday, 5 companies closed with deals for above 1m units.

Safaricom despite showcasing lowest trade for a while, paced volume with deals for 1.959m shares worth Ksh 58.5m at between Ksh 29.75 and 30.25 per share although closing firm at Ksh 29.50.

The banking sector was active too accounting for 48.78% or Ksh 194.8m traded value with Equity Group pacing with deals for 1.946m shares worth Ksh 95m at between Ksh 48.50 and 49.25 per share.

GHANA STOCK EXCHANGE

The story was the same at Ghana Stock Exchange. The Composite Index dropped by 8.36 points or 0.29% to 2917.92 while traded volume ended at 179,019 shares compared to 571,842 on Tuesday.

There were 2 price changes and all down. Societe Generale witnessed deals for 5300 shares at GHs 0.21 per share, down GHs 0.02 per share.

Ecobank Transnational declined by GHs 0.02 per share to record deals for leading 99,600 shares at GHs 0.21 per share. It had closed previous day at GHs 0.22 per share.

Other major trades were deals for 43,700 units sealed in Ecobank Ghana at GHs 8.97 per share without price change and Ghana Oil's 25,600 shares sold at GHs 3 per share.

Again majority of companies closed on offer (15) while 6 were on bid and 7 ended without new deals because of bid and offer price mismatch.

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