SEPT 19, 2018: STILL UP AND DOWN, DOWN AT STOCK MARKETS.

At the three stock markets monitored and reviewed by Henates, the trend still remained up and down, down ...by Wednesday September 19 2018.

NIGERIAN STOCK EXCHANGE

At the Nigerian stock market, the All share index went down again by 0.02% to 32,395.12 after Tuesday's unexpected punctuation of days long trend downwards.

This was despite twice as many equities (24) recorded price gains as those with drops (12). Of course, this was a by product of the relative market capitalisation of equities with the price changes.

Cement Company of Northern Nigeria led price gains with N2.2 or 9.73% per share increase as it found and closed at N24.8 per share as against N22.6 previously. 

This was 0.385m shares of the company were exchanged in 37 deals worth N9.169m.

Forte Oil was the other company with gains above N1 during the day. It closed up by N2 or 10% per share while recording 73 deals for 0.416m shares worth N9.118m.

International Breweries dropped by N2 PR 6.25%  per share to lead the fewer price drops. This was as it witnessed 6 deals in which 1.519m shares changed hands for N45.952m.

All trading indicators went down. Traded volume dropped to 190.353m shares from 269.814m;  traded value came to N1.773bn compared to N2.653bn on Tuesday.

Top trade was recorded in Red Star Express in which 60.326m shares were offloaded for N298.31m.

Zenith Bank was the pace setter in deals and traded value with 258 deals for 24.169m shares valued at N500.252m.

NAIROBI SECURITIES EXCHANGE

At the Nairobi stock market, it was a case of sharp drop in the All share index after  Tuesday's increase.

The ASI declined by 1.89 points or 1.2% to 155.86 as 24 price gains and 8 drops were recorded.

BOC Kenya paced drops with Ksh 7 per share decline as it touched day high of Ksh 85 per share then closed at Ksh 80 compared to Ksh 87 per share previously.

It was followed by the trio of Diamond Trust Bank, I&M Holdings and Nation Media down Ksh 4 per share each and Ksh 3 per share decline by Williamson Tea and East African Breweries.

In contrast, top price gain was Bamburi Cement's Ksh 1 per share.

Trading activities declined too with traded volume closing at 15.649m shares from 24.3m; traded value dropping to Ksh 409.8m from Ksh607.35m and number of deals ending at 1061 compared to 1376 previously.

Safaricom still led volume as it witnessed deals for 9.364m shares worth at Ksh 25.75 and 27.25 per share. It thus accounted for 60.69% of traded value.

The banking sector accounted for Ksh 145.5m or 35.49% of traded value  confirming that the banks and Safaricom dominated trade through the day.

In terms of volume, Cooperative Bank led the sector with 2.224m shares being traded for Ksh 33.1m but in value Equity Group paced with 1.527m shares traded for Ksh 64.6m at between Ksh 40and 42.75 per share followed by KCB Group with Ksh 38.1m as 944,300 shares were exchanged.

Traded value at the bond market edged up to Ksh 2.37bn in 38 deals from Tuesday's Ksh 1.24bn in 42 deals 

GHANA STOCK EXCHANGE

The story was more or less the same at Ghana Stock Exchange where 2 price changes were recorded, both down leading to 4.27 points decrease in the Composite index to 2897.36.

Fan Milk Ltd lost GHs 0.35 per share as 300 shares were traded at GHs 13 per share, compared to GHs 13.35 per share on Tuesday.

The other drop was recorded by SIC Insurance as 100 units were sold at GHs 0.18 per share down GHs 0.01 per share from previous GHs 0.19 per share.

MTN Ghana had an interesting run as 154,400 of its shares were exchanged at GHs 0.84 per share, up GHs 0.04 but this was not sustained anf it thus ended the day firm at GHs 0.80 per share.

However, offer price still stuck to GHs 0.84 by day end while counter bid was at GHs 0.80 per share.

Traded volume declined to 191,798 shares with only 7 companies closing with deals. Starwin Products trailed MTN lead with deals for 22,700 shared at GHs 0.01 pee share followed by Ghana Oil in which 12,000 units were exchanged at GHs 2.60 per share.

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