OCT 17, 2018: ABOUT TURN AT NIGERIAN STOCK EXCHANGE BUT...

After Tuesday's show of strength, there was about turn at the Nigerian stock market on Wednesday October 17 but less so at Ghana and nothing like that in Nairobi.

NIGERIAN STOCK EXCHANGE

On Tuesday, Dangote Cement had joined other price gainers to humble price losers led by Seplat Petroleum by driving the All share index up.

However, on Wednesday, Dangote Cement did an about turn, losing the same N5 per share it gained on Tuesday as it closed at N200 per share after hitting day high of N201 compared to N205 on Tuesday.

This was while recording 77 deals for 2.286m shares worth N457.385m and Seplat Petroleum was on hand to lend a helping hand.

Like DC, Seplat ended down N5 or 0.81% per share as it closed at N615 per share as against N620 per share previously while closing with 30 deals for 0.144m units valued at N88.977m.

Other major price losers were CAP Plc, down N2.05 or 6.21% per share; and UAC of Nigeria with N1 or 9.09% drop per share.

In contrast, no top 5 price gainer topped up with up to N1 per share with the leading one being N0.35 or 0.95% per share by Guaranty Trust Bank as 162 deals were struck for its 6.447m shares valued at N236.639m.

In the end, the All share index drppped by 0.87% to 32,437.35 compared to increase by 0.95% on Tuesday.

As for the day's trade, it took a dive from Tuesday's exceptional levels but that is not to say it was below average. Traded volume came to 240.764m shares, in 2974 deals worth N3.659bn.

There were at least 2 major offloads. In Zenith Bank, down N0.25 per share, 87.053m shares were traded in day high 247 deals worth N1,976.019m while 68.370m shares were sold in UBA, down N0.1 per share, in 179 deals valued at N560.357m.

NAIROBI SECURITIES EXCHANGE

At Nairobi stock market, on Wednesday October 17, 2018 it was full speed ahead for the All share index once again as it closed at 144.70, up 0.38points after Tuesday's 2.54 points gain.

This time though, mighty Safaricom did not lead the charge but still counted amongst the 17 price gains against 21 drops that did the trick.

Top gain was by Nation Media, the highest priced in the commercial sector, up Ksh 2 per share followed by Unga Group with Ksh 1.75 per share top up and Sanlam and Standard Group up Ksh 0.75 per share each.

Leading drop was Bamburi Cement's Ksh 5 per share decline followed by Williamson Tea down Ksh 4 per share, and Diamond Trust Bank with Ksh 3 per share decline.

Safaricom closed up by Ksh 0.25 per share and witnessed pacing 4.369m shares traded for Ksh 104m at between Ksh 23.75 and 24.25 per share.

Banking was active too accounting for 40.78% or Ksh 145.7m traded value. Here, Equity Group paced with deals for 2.868m shares at between Ksh 34.50 and 36.25 per share followed by KCB Group, with 1.006m shares changing hands.

Ken Kobil also recorded deals for 1.79m shares worth Ksh 24m at between Ksh 13 and 13.70 per share.

So did investors realise Ksh 49.7m from the sale of 270,100 shares of East African Breweries at between Ksh 180 and 185 per share.

GHANA STOCK EXCHANGE

At last, the downwards trend for the Ghana Composite Index which started last week, was finally halted on Wednesday in an about turn that reflected more through less price drops.

In all there there were 4 price changes and all except one were positive unlike recent days when the norm was 100% downwards. And the gains were with high margins too.

Top of the scale was Access Bank's GHs 0.47 per share as it recorded exchange of 100 shares at GHs 3.60 per share. Access had closed Tuesday at GHs 3.13 per share.

However, it does not look like Access Bank could sustain this for long because bid and offer prices closed at Ksh 2.70 and 3.59 per share respectively.

Ghana Oil also witnessed good rally, closing up GHs 0.42 per share to close at GHs 3.32 per share after 5200 shares were traded at GHs 3.34 per share compared to GHs 0.90 previously.

MTN Ghana was the 3rd price gainer, up GHs 0.01 per share to record deals for 35,200 shares at GHs 0.90 per share as against GHs 0.89 on Tuesday.

Finally, the lone ranger was Enterprise Group, down GHs 0.02 per share to record deals for 500 units at GHs 3.02 per share compared to Tuesday's GHs 3.04 per share.

After days of rising consistently, traded volume took a real dive to just 64,922 shares on Wednesday compared to 294,308 on Tuesday.

Aside from MTN, the other major traded volume was SIC Insurance's 15,600 shares dealt in at GHs 0.13 per share representing no price change although closing bid was GHs 0.11 per share.

Comments

Post a Comment

Popular posts from this blog

2018: TWO BLOWS TO UNITED CAPITAL PLC.

When a child who in a previous examination scored 80%, comes home with a new report in which he now scores 67.2%, the parents have a right to sit him down and ask how come. So it must be between Nigeria's United Capital Plc and its discerning shareholders since the release of the company's 2018 audited figures. In 2018, all said and done, says the annual report, United Capital ended with 67.2 % profit margin compared to 80.2% in 2017. How come? What comes across from the figures was that the company received 2 blows to the jugular in 2018: Sharp drops in Investment income and fair value gain. Investment income dropped by 10.8% to N4422.8m from N4965.2m while fair value on financial assets plunged by 79.7% to N6.173m from 2017's N30.387m. In view of both drops, the group's gross earnings grew by only 33.9% to N9259.4m despite strong growths in net trading income, and net operating income leap to N757.5m from N143.5m  Other income streams ended with single digit increase....
Read more

KENYA AUCTIONS Ksh 13.84bn Treasury Bonds.

The Central Bank of Kenya (CBK) will from Tuesday December 18 to 27th 2018_ auction Ksh 13.84bn worth of fixed income Treasury Bonds with issue date December 17, 2018. According to official statement from the Director of Financial Markets Irene Njiru on Monday December 17, auction will continue throughout the stated period or close once the target money to be raised is reached, whichever comes first. Bid value will be paid for at most by 2pm December 31, 2018 while auction results will be made public on December 28, 2018 after the scheduled closing date. The bonds are being issued at 12.502% fixed interest at an adjusted average price of Ksh 100.468 for Ksh 100 bond. However, price payable after auction results publication will be average of successful bid prices based and allotment will be on first come first served basis. Meanwhile, the monetary operations and debt management department has released the interest payment schedule for 13 Treasury Bonds due January and February 2019. Th...
Read more

NAIROBI SE's HIGH PRICED EQUITIES.

In the wake of Nigeria's high priced quoted companies posted in this blog a while ago, Henates took a look to at Nairobi Securities Exchange June 23 official list to identify its high priced equities and the outcome was interesting too. Of the 66 companies quoted on the market by June 23, 15 or 22.7% were valued averagely at above 30 times nominal value. A word of caution though: There are two clear differences between the Nigerian stock market list and that of Nairobi: In the Nigerian one most listed companies have par or nominal value of N0.50 as is there is an implied agreement on this. On the other hand, at Nairobi most of the equities do not share common par value, they differ greatly. Then another thing, Nigerian equities are not valued below par, Nairobi ones can and many are so valued. Of the top 15 high priced equities at the Nairobi market, Safaricom topped with because by June 23, at 23.25 Ksh average price, it was valued 465 times its nominal value of just 0.0...
Read more