AUG.13 2018: STOCK MARKETS STILL STRUGGLING

At the 3 stock exchanges monitored by Henates on Monday August 13, struggle was still the in thing especially at Nigerian Stock Exchange still looking down.
NAIROBI SECURITIES EXCHANGE

At the Nairobi stock market Monday August 13, 2018, there were more price drops (23) than price gains (17) with Safaricom amongst the drops but the All share index closed up 0.67 points to 173.51.

Last Friday, after 3 days upwards, the ASI had reversed gear strongly to close at 172.84. Thus, the Monday shift was a return to top up.

The gainers were led by Jubilee Holdings as it closed up Ksh 5 per share followed by  Crown Paints with Ksh 2.50 per share increase;  Standard Chartered Bank up Ksh 2 per share and Ksh 1 per share gains by I&M Holdings and Bamburi Cement. 

All of them have above average market capitalisation and so, help drive the ASI easily especially when they form a cluster of sorts.

On the other hand, the price losers were paced by Ksh 2.50 per share decline by Stanbic Holdings followed by Ksh 2 per share shed by British American Tobacco; East African Breweries, Williamson Tea  and TPS Eastern Africa.

Safaricom was among the losers with Ksh 0.25 per share decline while unusually playing second fiddle in traded volume and value.

In all, traded value grew by 44.6% to Ksh 524.7m from Ksh 362.8m despite only marginal 0.24% decline in traded volume to 10.035m shares from 10.059m recorded on Friday.

The leap in value was mainly because high priced banks like Diamond Trust Bank and Standard Chartered Bank witnessed rare trades alongside leading contributions from KCB Group and Equity Group.

KCB paced both sector and the market with deals for 3.98m shares valued at Ksh 201.1m at between Ksh 50 and 52 per share while Equity chipped in 1.267m shares exchanged for Ksh 66.3m and Diamond Trust recorded deals for 384,500 units worth Ksh 75.7m.

Thus, the banking sector accounted for Ksh 386m or 73.75% of the day's traded value while Safaricom witnessed deals for 2.02m shares worth Ksh 57.9m or 11.04% of total at Ksh 28.5 and 29 per share.

At the bond market, only Ksh 800.9m worth of trade was recorded.

NIGERIAN STOCK EXCHANGE:

In the case of the Nigerian Stock market the mood stayed gloomy on Monday August 13 just like all through last week with the All share index heading further down 0.13% to 35,339.28, a new year low.

Interestingly, this reverse occurred despite higher margin gains than drops with only one company, Guinness, going down by above N1 per share while 3 surpassed this mark upwards.

11 Plc, erstwhile Mobil, led gainers with N4 or 2.27%  per share rise to N180 per share as 32 deals for 0.578m shares valued at at N104.12m

It was trailed by International Breweries and UACN up N1.45 and N1 per share respectively. International Breweries recorded 28 deals for 8.192m shares worth N262.22m while UACN closed with 35 deals involving 1.247m shares valued at N17.356m.

On the other hand, as Guinness found and closed at N90 per share, down N4 or 4.20% it witnessed 21 deals through which 0.190m shares were exchanged for N17.11m.

The market also continued to record drought of shares for sale of sorts leading to below average trade since last week.

On Monday, August 13, traded volume was 160.433m shares compared to above 192m on Friday although traded value was slightly higher at N2.214bn.

Average offloads were recorded with United Bank For Africa leading as it recorded 128 deals for 30.597m shares worth N288.38m trailed by FBN Holdings which recorded 229 deals involving 14.435m shares worth N134.94m.

However, top number of deals and traded value was as 316 deals were struck that resulted in the exchange of 12.023m of Zenith Bank's shares worth N536.90m.

GHANA STOCK EXCHANGE:

On Monday August 13, the Ghana Composite index at the Ghana Stock Exchange took a 1.59% or 46.7 points dive to 2897.67 as 3 out of 4 price changes headed down.

And they were high margin drops too.  Access Bank led the price drops with GHs 0.48 per share decline to GHs 3.50 per share to tecord deals for only 200 units.  Access opened the day at GHs 3.98 and closed at GHs 3.50.

Another major decline was Ghana Oil's GHs 0.37 per share drop after opening at GHs 3.70 per share then drop to GHs 3.30 to record sale of 9000 shares.

However, bid price dip to GHs 3.20 pee share was countered by GHs 3.35 offer that left no room for more deals.

The last drop for the day was Ecobank Transnational Incorporated's GHs 0.02 per share decline to witness deals for 36,100 units at GHs 0.23 per share

Standard Chartered Bank closed with the lone gain of GHs 0.03 per share. SCB had ended Friday at GHs 25.99 per share, rose to GHs 26.02 to end the day but after recording sale of 200 units at GHs 26 per share.

In all total traded volume for the day was 507,703 shares, well short of the 825,120 units on Friday but a good start to the week all the same.

The dominant trade was in Societe Generale in which 429,800 shares changed hands at GHs 1.23 per share although bid price closed the day finally at GHs 1.20 per share 

There were 4 equities that closed on bid without bid, 16 on offer without matching bid and 9 on offer and bid prices that did not match.

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