MAR 27, 2019: GHANA: DOWN ON 5TH DAY

Wednesday, March 27, 2019 would have been 5th day of constant rally by the Ghana Stock Exchange but it was punctuated.

The Ghana composite index, which best reflects the state of the marker despite exclusion of equities quoted in other exchanges from its valuation basket, went down to 2450.62 from Tuesday's 2460.90.

This was as 7 price changes were recorded 4 down and 3 up in contrast to same 7 price changes on Tuesday made up of 4 price drops and only 3 gains.

 This time around price gains were paced by CalBank while 10,800 of its shares were traded.  The last deal was at GHc 0.93 per share before closing at GHc 0.96 per share down GHc 0.12 per share on Tuesday's GHc1.08 per share. Offer however ended at GHc 0.98 per share 

The 3 other price drops were of the GHc 0.01 per share range. Ghana Oil dropped to GHc 2.53 pee share while 200 shares were traded compared to GHc 2.54 previously.

Ecobank Transnational Incorporated, likely to be one of the equities excluded from the GCI basket,  closed Wednesday at GHc 0.15 per share from GHc 0.16 previously. Meanwhile, 7800 of its shares were exchanged.

Much the same way, Guinness Ghana recorded exchange of 800 shares at GHc 2.19 per share compared to GHc 2.2 previously.

The price gainers were led by Enterprise Group as it rose by GHc 0.07 per share to close at GHc 2.31 per share after last deal was struck for GHc 2.24 per share. In all 16,600 of its shares were traded and there could have been more deals if bid had not stuck to GHc 2.2 per share.

The other price gains were again of the GHc 0.01 per share range. Benso Oil Palm Plantation ended at GHc 4.13 per share which was last deal price as 400 of its shares were exchanged.

This was higher than GHc 4.12 per share on Tuesday and more deals were not possible despite bid reaffirmation of the closing price because no matching offers again.

Societe Generale also eased by GHc 0.01 per share to close at last deal price of GHc 0.9 per share compared to GHc0.89 previously.

There was slight increase in traded volume to 133,450 shares from Tuesday's  122,800. Top volume was MTN Ghana's 59,700 shares exchanged at GHc 0.72 per share before reverting to close firm at GHc 0.7 per share, its all year low.



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