APRIL 24, 2019: WHEN BLUE CHIPS TUMBLE AT NIGERIAN STOCK EXCHANGE.

At the Nigerian stock exchange, the two highest priced equities are Nestlé Nigeria and Seplat Petroleum so when their prices tumble, something must give.

It did on Wednesday April 24, 2019 as leading tumble by both of them dragged the All share index down 0.59% to 29,898.31. This was despite more positive mood of the market which resulted in 21 price gains and 14 drops.

The pressure downwards was even easier to apply because only one out of the 21 price gains was major while the 2 blue chips were joined by 3 other drops on the top 5 scale.

Nestlé shed N30 or 1.90% per share  while witnessing 28 deals for 0.162m shares worth N250.701m.

On the other hand, Seplat dropped by N25 or 4.39% per share in 19 deals through which 0.032m units were exchanged for N17.446m.

The market leading price gainer on Tuesday was 11 PLC as it closed up N4.9 per share. On Wednesday, however, it shed to same amount or 2.72% per share while 0.050m of its shares were traded for  N8.754m.

The 2 other major price drops were by Con oil and International Breweries. Con oil decreased by N2.2 or 9.57% per share in 13 deals involving 0.148m valued at N3.089m.

On the other hand, Interbrew eased by N2 or 8.70% per share as 33 deals were sealed for 0.601m shared worth N12.642m.

In sharp contrast, top 5 price gains were minor except Dangote Flour's N1.15 or 9.79% per share rise apparently on the back of breaking news that Olam is to purchase all of its listed shares. It recorded 53 deals for 1.707m shares valued at N22.025m.

Indeed, of the top 5 gains only Zenith Bank, at 3rd place could be said to be blue. It rose by N0.45 or 2.15% per share while pacing number of deals with 371 through which 25.772m shares were traded for day high N543.673m traded value.

Though at 2nd place Dangote Sugar also rose by the same N0.45 or 3.16% per share in the midst of 63 deals for 1.350m shares worth N19.942m.

Trading was fair although more active were low price equities resulting in marked drop in traded value while volume remained near even.

In all, 3902 deals were sealed for 304.862m shares valued at N2.630bn as against 316.117m shares worth N3.645bn in 3888 deals on Tuesday.

Once again, Japaul Oil & Maritime topped traded volume. This time 92.303m of its shares were offloaded in 145 deals worth N20.815m while closing up N0.02 per share.

The previous day, it paced with 69.045m shares traded in 118 deals valued at N14.129m, also while topping up N0.02 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