FEB 22, 2019: NIGERIA; INDEX DOWN DESPITE MORE GAINERS

There were slightly more price gainers than price losers at the Nigerian stock exchange on Friday February 22 2019 but the All share index closed down 0.16% to 32,515.52.

There were a total of 20 price gainers and 17 losers  with top 2 of the price gainers having higher Naira margin of price shift but of course, what drives the ASI is how such price changes on impact on the valuation pool of total market capitalisation.

The price gainers were paced by 11 Plc which continues to be listed on the exchange as Mobil despite name change long ago, with day high N8 or 4.71% per share increase as it found and closed at N178 per share as against N170 previously.

This was as 11 Plc (Mobil?) recorded 11 deals for 0.25m shares valued at N4.476m.

It was trailed by Total Nigeria of the same petroleum marketing sector with N5 or 2.63% per share rise while closing with just 5 deals for 0.01m shares worth N1.990m.

Both were the only price gains above N1 per share because Zenith Bank featured at 3rd place with N0.45 or 1.78% increase while posting 197 deals for 4.348m shares worth N111.285m.

Amongst the price losers, Okomu Oil and Palm set the pace with N4.95 or 5.82% per share as it closed at day high of N80.05 per share after hitting a low of N80 compared to N85 per share the previous day.

Okomu ended the day with 14 deals which resulted in the exchange of 0.470m shares for N37.640m.

Nigerian Breweries closed with the 2nd highest price drop of N2.5 or 3.03% per share while witnessing 39 deals for 0.213m shares valued at N17.323m.

Cadbury Nigeria also recorded major price drop in Naira terms, going down N1.1 or 9.57% per share amidst 15 deals involving 0.163m shares worth N1.708m.

Dangote Cement recorded a minor N0.6 or 0.31% per share price drop but being top by market capitalisation, this must have contributed to the ASI decline.

DangCem recorded 63 deals through which 0.192m shares were exchanged for N36.999m.

Actually, of the 10 price changes broken into 5 down and up, only Guaranty Trust Bank had its price accompanied with substantial trade in shares.

GTB, up N0.2 or 0.53% per share placed 5th amongst gainers but this was as 19.069m shares were exchanged in 144 deals valued at day high N729.981m.

At the end of the day, 2659 deals were sealed for 221.466m shares worth N2.240bn with Diamond Bank leading traded volume with 40.722m shares exchanged for N98.157m.


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