OCT 31, 2018: STOCK MARKETS STILL HEADING DOWN.

On Tuesday, October 30 2018 all the 3 African stock markets daily monitored by Henates for now, headed down without exception although at different rates.

GHANA STOCK EXCHANGE

Ghana Stock Exchange on Wednesday October 30, recorded the highest rate of decline. Its Composite Index dropped by 1.08% to 2852.83 from Monday's 2884.12 which itself was down.

According to figures obtained from the exchange, Access Bank Ghana did close the day up GHs 0.39 per share as 200 shares were traded at GHs 3.40 per share, this was no where near the downwards pressure applied by 7 price drops recorded.

Lead declibe was that of Standard Chartered Bank down GHs 0.86 per share to last deal and close at GHs 21.80 per share while recording exchange of 2430 shares.

Another major decline was by Ecobank Ghana which shed GHs 0.23 per share to close at new low of GHs 6.67 per share after recording last deal at GHs 6.68 per share. In the end, 14,600 units were exchanged.

Ghana Commercial Bank to witnessed relative tumble shedding GHs0.15 per share as 3700 shares were exchanged.

Other price drops include Enterprise Ghana's GHs 0.05 per share decrease. EGL traded  7300 units with the last deal at GHs 2.90 per share but it recovered to close at GHs 2.93 per share which is a new year low compared to GHs 2.98 per share on Monday.

Also included were Guinness Ghana down GHs 0.06 per share after recording exchange of its 4100 shares at GHs 2.30 per share as against GHs 2.36 on Monday.

MTN Ghana recorded the lowest price shift of GHs 0.01 per share as it witnessed last deal and closed at GHs 0.90 per share compared to GHs 0.91 per share previously. 

Traded volume recovered rather strongly though as it closed at 274,407 shares compared to just 21,320 on Monday.

Ecobank Transnational paced with deals for 86,200 shares at GHs 0.18 per share whike closing firm at GHs 0.19 per share followed by SIC Insurance with 66,700 units traded at firm GHs 0.14 per share.

NAIROBI SECURITIES EXCHANGE

At Nairobi stock market, the All share index continued with bit by bit decline as it closed at 145.21, down 0.36 points or 0.25%.

There were 17 price drops and 15 gains with top price drop being Bamburi Cement's Ksh 2 per share as it found and closed at Ksh 143 per share from Ksh 145 on Monday.

Other major drops include Ksh 1.50 per share shed by Eaagads Ltd in the agricultural sector and BOC Kenya's Ksh 1 per share decline.

Margin of gain was higher with Williamson Tea closing up Ksh 5 as it found and settled at Ksh 149 per share compared to Ksh 144 on Monday.

Other major gains were Ksh 3 per share top up by East African Breweries, Ksh 2 per share gain by Unga Group and Ksh 1 per share increase by Standard Chartered Bank.

Trade recovered though. In all 33.057m shares were traded in 1582 deals valued at Ksh 753.819m compared to 18.45m shares in 1069 deals worth Ksh 407.873m previously.

This time around Safaricom really dominated trade accounting for 69.21% of traded value or Ksh521m as 22.059m shares were traded at between Ksh 23.25 and 24 even though closing firm.

The banks too chipped in Ksh 137m or 18.21% to traded value with KCB Group recording deals for 1.946m shares worth Ksh 75m and Equity Group closing with deals for 979,200 units valued at Ksh 39m.

In the commercial and allied sector, WPP Scan Group had rare deals for 2.1m shares worth Ksh 29.4m to drive the sector's usually low traded value to Ksh 33.5m or 4.45%.

Even trade at the Bond market rallied with traded value coming to Ksh 3.189bn from Monday's Ksh 1.872bn although number of deals barely rose to 68 from 63 previously.

NIGERIAN STOCK EXCHANGE

At the Nigerian stock exchange, the decline in the All share index, at 0.08% to 33,167.88 was more modest of the lot. And from all indications, it could be attributed to N29.4 or 4.50% drop by Seplat Petroleum.

Seplat is the market's 2nd highest priced equity and has enough trade able issued capital to impact on the ASI basket weighted in terms of market capitalisation.

The Seplat tumble was the only above N1 per share decline for the day yet 4 of the top 5 gains were above N1 per share.
What's more the gains included that of Dangote Cement.

Presco plc paced gains with N5 or 9.43% per share as it simply closed at N58 per share compared to N53 previously. It then recorded just 9 deals for 2.024n shares worth N117.407m.

It was followed by the pair of Dangote Cement and Stanbic IBTC up N3.5 per share each. DangCem ended with 159 deals for 7.361m shares worth 2nd ranked N1.609bn.

Stanbic on the other hand, witnessed 32 deals forb0.375m shares value at N17.435m.

II plc, rose by N1.50 or 0.86%  while recording 23 deals for 0.054m shares for N9.639m.

Trade improved significantly as 309.155m shares were traded in 3418 deals worth N5.994bn as against 2624 deals for 150.504m shares worth N2.877bn on Monday.

Top traded volume and value was GTB's 57.631m shares traded in 199 deals worth N2.19bn as it eased by N0.5 per share.

In volume terms it was trailed closely by Sterling Bank with 57.041m shares traded only 37 deals (much unlike traditional rush for its shares) valued at N88.331m while rising by N0.05 per share.

FCMB, down N0.02 per share, also recorded major offload as 41.099m of its shares were traded in 13 deals worth N63.682m and Zenith Bank, down N0.75 or 3.07% per share, paced number of deals with 276 deals for 10.873m shares valued at N261.392m.

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