MAR 27, 2019: NIGERIA: MORE TRICKLES

For the 3rd day running, on Wednesday March 27, 2019, trickles continue to be available for trading at the Nigerian Stock Exchange with the week now almost sure of being tagged the week of trickles.

For example, 131.430m shares were traded on Wednesday in 2786 deals worth N1.403bn compared to 143.708m shares in 3457 deals valued at N1.682bn on  Tuesday.

Whereas even the Tuesday traded volume was down on 168.721m shares in 3048 deals worth N3.721bn on Monday when GTB topped both traded volume and value with 46.974m shares and N1.762bn respectively.

Hence, within the 3 days trickles were not only the order of the day compared to above 200m shares each day last week and on the average; the tap kept drying up each passing day so far this week.

This time around, Zenith Bank took the centre stage leading all 3 trading indicators while closing up N0.3 or1.38% per share. It recorded 284 deals through which 27.925m shares were exchanged for N606.598m.

Close on its trail volume wise was Sterling Bank with 25.014m shares traded in far less sterling just 71 deals worth N58.718m.

It was UBA that was closer to Zenith in terms of investors interest as it closed with 214 deals for 11.402m shares worth N88.522m.

Price discovery was on the cautious side so much so that negligible price changes came to 16 ahead of 15 recognised price gains and just below 19 price drops.

Naturally, with price drops higher in number and also by margin of change, the All share Index dropped by 0.68% to 30,829.45.

Lead drop was by Seplat Petroleum down N10 or 1.82% per share to N540 per share as against N550 previously. This was as it witnessed 23 deals for 0.072m shares valued at N39.070m.

It was followed by the duo of Stanbic IBTC and Presco with N2.5 per share decline each. Stanbic's own was accompanied with 10 deals for 0.094m shares worth N4.359m. For Stanbic it came to 5.15% decline.

On the other hand, Presco's amounted to 3.88% drop in 20 deals involving 0.596m shares valued at N37.973m.
.
All top 5 price drops were major actually and above N1 per share. Guinness Nigeria shed N1.55 or 2.42% per share in 42 deals for 0.219m shares worth N13.777m while Guaranty Trust Bank declined by N1.4 or 3.74% per share as 162 deals were sealed to exchange 1.306m of its shares for N47.759m.

On the price gainers side, only Okomu Oil & Palm was major as it rose by N1 or 1.27% per share to close at N80 from N79 per share on Tuesday while recording 17 deals through which 0.127m shares were traded for N10.189m.

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