SEPT 17, 2018: THE BEAT GOES ON AT STOCK MARKETS.

This trading week started on Monday September 17 2018 with the drumbeat downwards resuming at Nairobi and Nigerian Exchanges and upwards in Ghana 

GHANA STOCK EXCHANGE

At Ghana Stock Exchange, on Monday September 17, the Composite index rose by 26.02 points or 0.9% to 2901.83 as all 3 price changes recorded were upwards.

Total Ghana paced all the gains with GHs 0.10 per share rise to GHs4.80 per share while 200 units were being exchanged. It had closed Friday at GHs 4.70 per share and interestingly looked set even rise higher as offer price closed at GHs 5.4 per share 

MTN Ghana continued to be a blessing as it gained GHs 0.02 per share while at GHs 0.80 per share 1.31m shares were offloaded  compared to GHs 0.78 on Friday.

Finally, Aluworks ltd recorded deals for 21000 shares at GHs 0.09 per share up GHs 0.01 on Friday's GHs0.08 per share.

Standard Chartered Bank rose by GHs 0.01 to record deals for 410 units at GHs 26.04 per share  but could not sustain the gain and so, closed firm at Friday's GHs 26.03.
Closing bid though slipped further to GHs 25 per share.

The same thing occurred with Ghana Commercial Bank in which 100 shares were exchanged at GHs 5.35 per share up GHs 0.01 but it closed firm at GHs 5.34 per share. In its case bid price dropped to GHs 4.70 per share.

Traded volume more than doubled to 1.633m shares compared to 775,910 units on Friday.

Apart from the MTN offload 299,300 shares were traded in Enterprise Group at GHs 3.07 per share, with no change in price.

NIGERIAN STOCK EXCHANGE

At the Nigerian stock exchange, Friday's punctuation of the downwards slide proved to be short lived as the All share index dropped by 0.39% to 32,201.98 from  32,327.59 on Friday 

At 23, price drops were more than gains (18) but the main pressure downwards was that margin of decline were higher too.

Nestle Nigeria continued to seek a bottom as it led drops with N20 or 1.46% per share decline by closing at N1350 per share compared to N1370 on Friday.

This was as it witnessed 32 deals for 0.121m shares worth N163.48m.

Other major price drops were Guinness Nigeria's N1.9 or 2.16% decrease as 0.172m shares traded in 19 deals valued at N14.83m and 11 PLC's N1 or 0.56% top up for 20 involving 0.051m shares worth N9.20m.

The lone price gainer with above N1 per share was Forte Oil and it rose by N1.50 or 8.57% per share as it found and closed the day at N19 compared to Friday's N17.5 per share. 

It witnessed 35 deals for 0.304m shares worth N5.72m.

Trade was down too with traded volume at 160.15m shares from Friday's 252.1m; traded value coming to N2.115bn compared to N4.732bn previously and number of deals easing to 2935 from 3120.

There were no major offload as such but Access Bank  led volume with 127 deals for 24m shares worth N185.39m while closing up N0.3 or 3.85% per share.

Guaranty Trust Bank topped value with N805.45m from 216 deals involving 2nd ranked 23.69m shares though down N0.8 or 2.30% per share.

Finally, Zenith paced deals with 261 deals for 10.32m shares worth N208.94m while up N0.2 or 1% per share.

NAIROBI SECURITIES EXCHANGE

Understandably, at the Nairobi stock market, the drop in All share index was higher at 0.56% not just because more drops than gains were recorded, also because there were major tumbles in price.

Jubilee Holdings declined the most with Ksh 33 per share as it closed at Ksh 451 per share after hitting day high of Ksh 452 and low of Ksh 450 comparer to Friday's 451 per share.

Bamburi Cement also went down by Ksh 11 per share from Friday's Ksh 163 per share to close at Ksh 152 per share after touching day low of Ksh 150.

Other major price drops were East African Breweries Ksh 2 per share drop and Ksh 1 per share shed by Kapchorua Tea, Diamond Trust Bank and Nation Media.

In contrast, top price gain was Ksh 4 per share by Standard Chartered Bank followed by Ksh 1.75 per share by Total Kenya and Williamson Tea.

Like for the Nigerian market, trade was down too as traded volume almost declined by 50% to 17.759m shares , traded value dived faster to Ksh 321m from Ksh 1.09bn and number of deals eased to 1207 from 1262.

Three equities together dominated volume led by Safaricom with deals for 5.165m shares worth Ksh 136.9m at between Ksh 26.25 and 26.75 per share.

The other 2 were Barclay's bank with deals for 5.113m shares worth Ksh 51.9m at between Ksh 10 and 10.25 per share and Ken Kobil in which 3.049m shares were traded for Ksh 49.5m.

The bond recovered though. It recorded 46 deals worth Ksh 2.6bn compared to Ksh 1.239bn in 48 deals previously.

Corporate bonds recorded a deal of below Ksh 100,000; sell or buy back witnessed one equity with Ksh 100m worth of deals while government stocks of above Ksh 50m nominal value dominated with trade being Ksh 1bn in fixed 6 year bond issues in 2016.

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