AUG 30, 2018: ALL THREE STOCK MARKETS STILL DOWN.

Nigerian, Nairobi and Ghana stock markets closed once again down without exception on Thursday August 30, 2018.

NIGERIAN STOCK EXCHANGE:

At the Nigerian stock exchange, the All share index declined by 0.77% to 35,086.67 from Wednesday's 35,358.94 as once again more price drops than gains were recorded.

This time only Guinness Nigeria witnessed above  N1 per share gain while all top 5 drops were equal or above N1.

Guinness lone ranged with N5 or 5.5% per share gain accompanied by 61 deals struck for 3.5m shares worth N334.2m.

On its trail from quite a distance was NEM Insurance with N0.30 or 10% per share for 36 deals involving 2nd day high 45.25m shares worth N131.65m.

Incidentally, the same NEM paced traded volume with 180.05m shares offload without a change on Wednesday, August 29.

The price losers were led by La Farge Africa, down N1.8 or 7.06% per share as 53 deals for 0.586m shares worth N13.978m were sealed.

It was followed by Forte Oil down N1.7 or 7.83% per share; Stanbic IBTC with N1.25 or 2.58% decline; GTB down N1.05 or 2.69% and Dangote Cement which shed N1 or 0.44% per share.

Traded volume eased from 345.05m previously to 284.59m but it did not drag traded value down. Instead, total trade for the day was valued at N3.44bn compared to N2.26bn on Wednesday.

UBA was back at the front of volume as it recorded 230 deals for 57.119m worth N452.33m followed by NEM that dominated volume the previous day.

Top traded value was however recorded by Nigerian Breweries which closed with  N1.02bn worth of 56 deals for 10.208m shares.

On the other hand, Access Bank had top number of deals as 30.738m of its shares were traded in 311 deals worth  N281.118m.

NAIROBI SECURITIES EXCHANGE

At the Nairobi stock market, the All share index too dropped by 0.82 points or 0.49% per share as 19 drops and 14 gains were recorded on Thursday August 30,2018.

However, outnumbering  more or less drove the ASI down since higher margins were gains.

For example, lead gain was East African   Breweries which closed at Ksh 199 per share after hitting a high of Ksh 205 per share and low of Ksh 197 compare to Wednesday's Ksh 195 per share.

Nation Media too closed at Ksh 85 per share after  day high of Ksh 85.50 and so, up Ksh 3 per share on Wednesday's 82.

In addition, Kapchorua Tea, Diamond Trust Bank,  Standard Chartered Bank and Bamburi Cement all ended up Ksh 1 per share.

In contrast, Sanlam paced drops with Ksh 2 per share followed by Equity Group down Ksh 1.25 per share and the duo of British American Tobacco and Jubilee Holdings down Ksh 1 per share each.

It was yet another dive for traded volume to 7.208m shares from 12.659m previously but drop in traded value was more marginal. It declined to Ksh 323.54m from Ksh 399.44m also deals struck dropped to 1035 from 1091.

The manufacturing sector accounted for 48.12% or Ksh 155m of total traded value mainly as rather rare 252,100 shares of BAT changed hands for Ksh 153.7m though down Ksh 1 per share.

Safaricom led volume with 2.726m shares worth Ksh 80.8m or 24.99% of value as the shares were sold at between Ksh 29.50 and 30 per share.

In the banking sector, Barclay's Bank led volume and trade to sectoral Ksh 78.4m or 23.12% contribution to total traded value.

Barclay's recorded deals for 2.1m units worth Ksh 24.1m at between Ksh 11.50 and 11.65 per share.

At the bond market there was a slight recovery to Ksh 2.5bn traded value in 66 deals as against Ksh 2.09 bn in 51 deals previously.

GHANA STOCK EXCHANGE

In the case of the Ghana Stock Exchange, the Composite index shed 0.51% to close at 2902.9 compared to 2917.92 on Wednesday.

This was as 4 price drops  and no gains were recorded.

Lead drop was Access Bank's GHs 0.40 per share as it slipped to GHs 3.40 per share to record deals for 500 shares. Access had ended Wednesday at GHs 3.80 per share.

Next were the pair of Societe Generale and CAL Bank down GHs 0.03 per share each. CAL's occurred as 100 shares were sold while that of Societe was as 2100 shares changed hands at GHs 1.18 per share. 

Societe had ended Wednesday at GHs 1.21 per share but even though, offer price stayed stayed at the new price more deals were not forthcoming.

Top volume was by Ecobank Ghana involving deals for 191600 shares at GHs 2.97 per share without price changed. 

A total of 14 companies closed on offer and 3 on bid while 8 settled for bid and offer prices mismatch.

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