SEPT 20, 2018: OPPOSITES FOR NIGERIAN AND GHANA STOCK EXCHANGES

On Thursday, September 20, 2018, the Nigerian and Ghana stock markets closed with their all market indices closing in opposite directions.

NIGERIAN STOCK EXCHANGE

At the Nigerian stock market, the All index stayed on course down today up next day by closing up by 0.33% to 32,480.89.

On Wednesday, September 19 it had dropped by 0.02% to 32,375.12 after rallying by 0.56% on Tuesday September 18 from 0.39% decline at the start of the week on Monday.

La Farge Africa paced pressure on the ASI upwards with N2.05 or 9.90% per share increase as it found and closed at N22.75 per share alongside 56 deals for 0.256m shares worth N5.77m.

It was trailed by Guinness Nigeria up N2 or 2.33% per share while witnessing 23 deals for 1.605m shares valued at N0.141m.

Second highest price equity, Seplat Petroleum led price drops with N6.7 or 1.10% drop per share as it too found and closed at N600 per share compared to N606.7 previously. In the process, Seplat recorded only 11 deals involving 0.537m shares worth N322.38m.

Okomu Oil and Palm was yet another major price loser as it closed down N2.9 or 3.63% per share to close 12 deals for 0.257m units worth N22.92m.

Two other majors were the duo of Nigerian Breweries and Cement Company of Northern Nigeria down N1.1 per share each.

There was improvement in trade as well with traded volume closing at 226.027m shares compared to 190.353m previously; trades value standing at N2.34bn from N1.773bn and number of deals rising to 2873 from 2780.

Top volume was recorded by NEM Insurance as it closed up N0.03  per share whike recording 16 deals for 39.12m shares worth N 121.09m.

Top value and number of deals were however clocked by Zenith Bank, down N0.01 per share, as it closed with 203 deals for 20.72m shares valued at N428.8m.

GHANA STOCK EXCHANGE

At Ghana Stock exchange on Thursday September 20, 5.25 points or 0.18% decline in the Composite index to 2892.11 was powered by 3 price changes recorded, all down.

Two of them, Ghana Commercial Bank and Standard Chartered Bank closed down GHs 0.03 per share each while the 3rd equity; Ecobank Transnational, shed GHs 0.01 per share.

GCB witnessed deals for 74,900 shares at GHs 5.31 per share as against GHs 5.34 per share previously. It closed the day on bid though at the same price but no more offers.

On the other hand, SCB closed GHs 26 and 29.90 per share on bid and offer respectively after recording deals for 5040 shares at GHs 26 per share compared to GHs 26.03 per share on Wednesday.

In the case of ETI, the closing mismatch was GHs 0.18 and 0.20 per share bid and offer price respectively after deals for 6000 units had been struck at GHs 0.20 per share, down from GHs 0.21 on Wednesday.

In the end, the daily drop in traded volume since Tuesday continued for the 3rd day. The trading week had taken off on Monday with 1.633m shares traded, up on Friday's 775,910.

Come Tuesday, it dropped to 944,363 shares then 191,798 shares by Wednesday before closing Thursday further down at 147,967 shares.

This eased further to 191798

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