HENATES

There was gear change of a kind today August 17, 2017 as some of the major price movements yesterday that led to higher decline rate for the All Shares Index regained lost grounds and punctuated yet again, days of decline. The All shares index rose by 0.59% to 36,316.58 after yesterday's 2.69% drop principally because led by Dangote cement, many equities regained grounds while a few lost some if yesterday's gains. Dangote cement closed down by leading N11 per share yesterday, today it regained a about 50% of that as it gained N5.80 per share to lead Naira gainers. Some other equities too regained grounds: Zenith gained N0.51 today out of N0.76 per share it lost yesterday; Total oil gained N1.11 out of N9.55 earlier lost; GTB gained back N1.82 per share it lost earlier and FBN Holdings closed N0.03 per share up as against N0.04 lost yesterday. On the other hand, equity of the moment, Nestlé Nigeria went down today with 2nd highest N10 per share after topping with N11.90 per shar...

The bears took to the centre stage again for the 3rd day, today August 16 at the Nigerian stock exchange driving All shares index down faster by 2.69% to 36,102.8. The ASI had hit a new high on Friday August 11 closing up marginally by 0.25% and headed down since then. It lost 0.65% on Monday closing at 37,950.96 from 38,198.60 before clocking 37,096.60 yesterday August 15. At today's level it was back to about July 25 mark when it crossed to 36,740.77 without landing any where else below but in the 36,000 range. This time around, the pressure downward was still led by Dangote cement, down N11 per share but with strong support from Total oil which eased by N9.55 per share, Nigerian Breweries down by N1.93 per share and GTB which declined by N1.82 per share. In contrast, only Nestlé Nigeria recorded comparative growth in price as it closed up N11.90 per share. Besides there were only 10 price gainers compared to 31 drops. Only two of the 10 gainers closed above 4% up: C&I Leasin...

The bond market at the Nairobi securities exchange today August 16, 2017 made a come back from doldrums with traded value rising by 126.4% to Kes 1.5bn. However, Government fixed 10 year bond issued at 10.75% in 2008 and due by September next year alone accounted for Kes 1bn worth. In all there were 29 deals compared to yesterday's 26 and corporate bond recorded Kes 4.2m worth of deals. At the equities market, trading indicators continued upwards too but for the second day All shares index trended down by 1.92 points or 1.14% to 166.79. The total volume for the day rose by 29.8% to 46.88m; traded value increased by 35.2% to Kes 1.138bn and, as if to confirm higher investors interest in the market, number of deals struck stayed above 2000 for the 3rd day running closing at 2375, up 1.04%. Trading in the shares of Safaricom was back in form with deals for 14.32m units being recorded or 30.5% of volume, at between Kes 24.25 and 25 per  share worth Kes 305m or 30.75% of total traded va...

Guaranty Trust bank PLC (GTB) seems to have found new guarantees from the year 2017 to do away with paper profit and relatively high bad debts provision. According to half year results released this week, from around 1.94% rise in gross earnings to N213.9bn, a profit before tax growth of 18% to N101.1bn has been harvested mainly because interest income jumped by 51.1% to N165.88bn; and bad debts provision dropped by 80.8% to N7.12bn. The leap in interest income was accompanied by only 18.5% growth in interest expense to N36.3bn. In addition, personnel cost increased by only 12.8% to N16.36bn; operating lease expenses rose by only 24.4% to N749.5m and Other operating income closed the half year 31.5% up at N42.82bn. With the marked drop in bad debts provision, net interest income growth and doubling of net gains from trading to N5663.6m; it was easy for GTB to absorb these cost growths and also accommodate 90.1% drop in profit from forex related revaluation (paper money, in the main) to...

Today, August 15, 2017, it was more or less gentle wake up from recent lows at the equity market but the bond end still await new steam. In contrast to last two trading days, the market was far less bullish today and so, the All shares index came down from its high by 0.06% to 166.71 but trading indicators trended up. In particular, investors interest seems on the increase as for the second consecutive trading day, number of deals stayed above 2000 mark as it rose by 18.5% from yesterday's 2026 to 2400. Traded I closed up by 5.25% at 361.38m units while traded value came to N842.5m , up 4.98%. Safaricom bounced back after a couple of days in the back bench as it witnessed deals for 11.6m units at between Kes 24 and 25.50 per share worth Kes 289m. Thus, it accounted for 32.1% of volume and 34.3% of traded value. The banks,as one sector, paced with Kes 315m traded value or 37.46% of market total. The bulk of that came from deals for 3.83m units in Equity group worth Kes 169m as the s...

For quite a while, the Nigerian stock market has been more bullish than bearish resulting in a tea party of sorts. However, today August 15 2017 it seems the party is over because for the second day and at a higher rate, All shares index went down 2.25% to 37,096.60. Though still a long way from the year low, the index strong drop was due to price drops across the board at the market and more importantly, just when most mid year figures had been harvested. The main drivers of the decline were 4.15% drop in industrial index to 2195.25 and premium index decline by 3.85% to 2427.87. Other indices except Asem index also dropped but at a rate below the ASI drop thus implying they had less impact. Dangote cement seems major factor in this regard as it led Naira drops  by going down N10 per share or by 4.26% thus needing only a little help from Zenith's N0.24 per share drop and FBN Holdings N0.19 per share decline to drive premium index down. It was indeed a bullish day as 35 price drops ...

Today, Monday August 14, 2017, the Nigerian stock market started week 33 on a bearish note as the rise in the All shares index was once again punctuated to close at 37,950.96, down 0.65%. The pressure downwards came from price drops by 27 equities compared to gains by 18. The gainers were led % wise by Fidson Healthcare up 4.68% or N0.14 per share followed by A G Leventis with 4.35% or N0.03 gain per share and Linkage Assurance which also gained N0.03 per share or 4%. In Naira terms, top gain was by Seplat Petroleum, up N9.9 per share or 2.11% followed by Ecobank Transnational which closed up by N2.39 per share. On the other hand, the margin of drop was wider apart from the higher number of drops. Top drop in Naira terms was in Total Nigeria, down N12.45 per share or 2nd highest 5%. It was followed by Dangote cement with N5 per share or 2.08% and Guinness down N1.50 per share In % terms, highest drop was in C & I Leasing down 9.26% or N0.10 per share then Total and Medview Airlines...