DEC 7, 2018: STERLING, NESTLÉ PACE NIGERIAN STOCK EXCHANGE

At the Nigerian Stock Exchange on Friday December 7, 2018 Sterling Bank and Nestlé Nigeria were clearly the 2 equities at the centre of trading for the day.

Sterling Bank paced in terms of investor interest as 547 deals were struck even while losing N0.02 per share, as only 11.436m shares were exchanged for N20.060m.

Compared that to just 50 deals sealed on the same when leading 60.370m shares of Oando plc were offloaded for N310.805m or to 11.055m shares of Zenith bank traded in only 198 deals worth N259.48m while closing up N0.05 per share.

Incidentally, amongst top 5 deals the one of Zenith was the nearest to Sterling Bank towering figure which remains in trend with previous level on interest and not a flash in the pan.

Nestle, on the other hand, set the pace as usual with its once in a while leap in price per share. This time, it rose by N69 or 4.66% per share as it found and closed at N1549 per share compared to N1480 previously.

Nestlé ended the day with 25 deals for 0.027m shares worth N41.336m.

No other gain came close for the day and indeed total number of gains came to only 10, half the 20 price drops recorded.

However, it is a good measure of the impact of the leap on the market that the All share index closed up by 0.15% to 30,866.82, not down despite the fact that the price drops were led by Dangote Cement.

Of course, this did not make DangCem less the heavyweight of the market that it is, mainly because its lonely N1 or 0.54% decrease was a light weight price shift compared to the Nestlé leap.

DangCem hit a day high of N1.7 and a low of N1.64 before closing at N1.68 per share while recording 55 deals involving 0.320m shares valued at N59.007m.

Its closest amongst top 5 drops was Flour Mills down N0.8 or 3.81% per share while witnessing 47 deals through which 0.792m shares were exchanged for N16.340m.

One other equity stood out at the end of the day: Ikeja Hotel but for different reason: It recorded just one deal which resulted in exchange of 100,000 of its shares for N187,000 while topping up with N0.17 or 10% 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