MAR 20, 2019: GHANA: INDEX DOWN 1.06%

After rising on a trail of a jigsaw puzzle on Tuesday March 20 2019, the Ghana Composite Index  at the Ghana Stock Exchange closed down 1.06%  amidst more possible 3 price drops and single gain.

This was unlike Tuesday March 19, when 5 price drops and 1 gain led to puzzling 9.59 points rise in the GCI to 2460.73.

This time, the GCI declined by resounding 25.98 points to 2434.75 although MTN Ghana was among the price losers and not the gainer it was on Tuesday.

Of the 4 price drops, 3 hit new year low including MTN Ghana that slipped back to year low after hinting at a bottom to bounce from on Tuesday.

Lead decline was by Standard Chartered Bank which went down GHc 0.99 per share as its 380 shares were traded while closing at last deal price of GHc 20.0 per share

SCB had ended Tuesday at GHc 20.99 per share and with offer price recovering to GHc 21 per share, mismatch was inevitable.

Ecobank Ghana also declined but by GHc 0.04 per share to close at last deal's GHc 7.7 per share compared to GHc 7.74 previously. This was as deals were struck for 10,000 shares.

Ghana Commercial Bank and MTN Ghana completed the picture with GHc 0.01 per share decline each. GCB  hit a new low of GHc 3.99 per share from Tuesday's GHc 4.0 per share.

A total of 3200 shares of its shares were exchanged for GHc 12781 and more drop likely because bid and offer prices eased further to GHc 3.5 and 4 per share respectively.

Of the 314,548 shares exchanged during the day, MTN Ghana accounted for 278,600 valued at GHc 196,159 but it closed back at year low GHc 0.7 per share apparently unable to hold on to Tuesday's gain.

The lone price gainer was Trust Bank of the Gambia. It closed at last deal price of GHc 0.23 per share, up GHc 0.03 per share from Tuesday's GHc 0.2 per share while 5200 of its shares were traded.




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