OCT 25, 2018: ALAS, RALLY AT NAIROBI, GHANA STOCK MARKETS.

At last, after closing down daily since this week, the all market indices at both Nairobi and Ghana stock markets rallied on Thursday October 25, 2018.

NAIROBI SECURITIES EXCHANGE.

At the Nairobi stock market on Thursday October 25, there were equal number of price gainers and losers and so, the rally in the All share index was mainly a product of higher margin of gains by equities with equally higher weights in the valuation basket.

Leading gain was by British American Tobacco, up Ksh 20 per share as it closed at Ksh 600 per share compared to Ksh 580 on Wednesday. This was while recording deals for 5,500 units.

Diamond Trust Bank too had a double digit price leap, up Ksh 13 per share as it hit day high of Ksh 159 per share, then a low of Ksh 150 and closed at Ksh 158 per share, as against Ksh 145 previously.

Other major price gains were Jubilee Holdings' Ksh 3 per share;  and Ksh 1 per share top up by Bamburi Cement.

Limuru Tea on Wednesday paced price gains with Ksh 13 per share but on Thursday, shed Ksh 5.50 per share out of that to lead decline. It touched day high of Ksh 75 per share, low of Ksh 67 and closed at Ksh 68.50 per share compared to Ksh 74 per share on Wednesday.

It was trailed by Unga Group down Ksh 2.50 per share and the trio of Standard Chartered Bank, TPS Eastern and East African Breweries with Ksh 1 per share drop each.

The rally was amidst improved traded volume and value but less investors interest as represented by deals struck.

There were 986 deals sealed for 28.672m shares worth Ksh 436.820m compared to 1180 deals involving 16.369m units valued at Ksh 331.820m the previous day.

Top traded volume was once again recorded in the Energy and Petroleum sector after Ken Kobil's recent lead was punctuated by Safaricom on Wednesday.

Kenya Power & Lighting paced volume with deals for 14.483m shares worth Ksh 59.3m traded at between Ksh 4.05 and 4.25 per share. Other active equities in the sector recorded deals for below 200,000 shares.

Safaricom, being higher priced than Kenya Power, led traded value with Ksh 230m or 52.83% of market total as 9.827m of its shares were exchanged at fairly stable price that closed firm.

The banking sector was active too but only KCB Group ended with deals for above 1m (1.466m shares to be exact) traded at between Ksh 38.50 and 39.50 per share valued at Ksh 56m.

Activity at the Bond market reduced slightly with traded value coming to Ksh 2.8bn in 49 deals from Wednesday's Ksh 3.45bn in 57 deals.

GHANA STOCK EXCHANGE

At Ghana Stock Exchange on Thursday October 25, it was clearly a rally in the form of about turn in price changes. Whereas all or majority of price changes in recent days were downwards, this time all were upwards.

The Ghana Composite Index closed at 2935.85 from Wednesday's recent low of 2920.57 as all 5 price changes recorded were gains.

Top of the bill was Total Ghana's GHs 0.16 per share gain as last deal for the 7100 traded was done at GHs 4.16 per share before closing at GHs 4.26 per share compared to GHs 4.10 on Wednesday. However, closing bid was GHs 4.16 per share.

Ghana Oil witnessed exchange of 9600 shares at GHs 3.30 per share, up GHs 0.02 per share from GHs 3.28 per share previously and offer price even rose further to close at GHs 3.34 per share.

Enterprise Ghana, MTN Ghana and SIC Insurance all ended the day up by GHs 0.01 per share each. EGL recorded deals for 300 shares at GHs 2.98 per share; MTN witnessed 5800 units exchanged at GHs 0.91 per share and closed on offer at GHs 0.93 per share while SIC recorded deals for 16,400 shares at GHs 0.15 per share.

It was a dry day though in terms of traded volume. In all only 65,938 shares were traded compared to week high so far of 568,683 on Wednesday.

Top volume was Camelot's 24,500 shares traded at GHs 0.10 per share while closing on bid at GHs 0.09 per share.

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