HENATES

Two consecutive trading days of gentle but sure strides at the Nigerian Stock Exchange was on Thursday December 6, 2018 halted as the All share index dived by 1.07% to 30,819.10. At that level it was almost back to 30,798.76 with which it closed Monday, down 0.24%. It was from this, Tuesday closed with 0.68% increase followed by Wednesday's 0.47% rise. The halt was not a surprising one because the market closed with 22 price drops and 17 gains. What's more, 4 of the top 5 declines were above N1 per share while no gain hit this mark. To boot top weighted equities were among the price losers. Pacing decline were the pair of Nestlé Nigeria and Dangote Cement down N5 per share each. For Nestle this came to 0.34% drop that occurred as it simply found and closed at N1480 per share compared to N1485 on Wednesday. Within the day, Nestle posted 44 deals involving 0.070m shares worth N104.114m. DangCem, on the other hand went down 2.63% per share after touching day high of N185.1 before ...

One trading day to go and it has been 4 days of gloomy closing at the Nairobi Securities Exchange; is the first week in December going to end with 5 day decline? That will be decided Friday December 7, 2018. For now, the All share index eased once again, this time by 0.81 points to 145.65 second only to 1.95 points declibe recorded on Monday, at the start of the week. Once again it was a close call between number of price gains and drops as the day closed with 19 gainers and 17 losers. The gains were mainly below Ksh 1 per share except for Jubilee Holdings  lead Ksh 2.75 per share top up as it ended at Ksh 368.75 after touching day high of Ksh 370 and low of Ksh 366 per share compared to the same Ksh 366 previously. This was while recording deals for only 8000 units. Trailing it amongst top 5 gains was Unga Group with just Ksh 0.90 per share increase. On the other hand, top decline included at least 3 above Ksh 1 per share drops. BOC Kenya led with Ksh 5 per share decrease as it found ...

Once again, the Ghana Stock Exchange rallied on Wednesday December 5 2018 after Monday much welcomed first rally had been dimmed the next day. The Ghana Composite Index rose to 2632.36 from Tuesday's 2607.76 thus almost getting back to Monday's cherry start to the week and new month 2645.35. Wednesday was a busy day for price changes on both sides of the divide: 4 gains and 3 price drops. Hence, the strong rally was a product of relative weights on the index basket. Top gain was GHs 0.06 per share by Access Bank but it was a gain that occurred after last for the day was done at firm GHs 4.08 per share as it closed at GHs 4.14 per share. In all, 3200 shares were exchanged. On the other hand, top price drop was recorded by Republic Bank Ghana down GHs 0.05 per share to close and record last deal at GHs 0.75 per share compared to GHs 0.8 previously. MTN Ghana rallied GHs 0.02 per share to GHs 0.8 per share but not during a major offload. Only 200 of its shares were exchanged  for ...

On Wednesday December 5, 2018, decreasing traded volume continued at the Nairobi stock market for the 3rd trading day after closing above average on Friday. Traded volume closed Wednesday at 7.508m shares considerably lower than the 9.021m recorded on Tuesday which itself was also down considerably on Monday's 9.329m. Earlier, the slide had started on Monday from 26.902m shares exchanged on Friday. However, other trade indicators did not go the way of traded volume as such. Traded value declined to Ksh 278.627m on Monday then further to Ksh 229.249m on Tuesday buy on Wednesday rose to Ksh 233.536m. On Friday last week, number of deals struck was a handsome 1341 but this declined to 889 on Monday then closed up on Tuesday at 994 before dropping to 973 on Wednesday. Interestingly, the All share index rallied by the same 0.03 points it did on Tuesday. On Wednesday, the ASI closed at 146.46 that is down 0.03 points on Tuesday's 146.49 which on its part was down...

On Wednesday December 5 2018 there was muscle flexing between Dangote Cement and Seplat Petroleum and, not unexpected, DangCem won. Both equities are top weighted in the All share index basket and so command great impact when they record price changes. On Wednesday, there were 19 price gains and DangCem paced them with N5 of 2.70% per share gain while witnessing 90 deals for 1.459m shares worth N270.756m.  It was an easy shift for DangCem because it simply found and closed at N190 per share compared to N185 on Tuesday. And, DangCem was more or less as prime source of pressure on the ASI upwards because no other gain was up to N1 per share. On the other hand there were 18 price drops, 3 above N1 per share range and led by Seplat with double digit N15.1 or 2.46% per share decline as 8 deals were struck involving 0.018m shares worth N11.216m. It was easy too for Seplat to head down because it also simply closed at N598.9 per share compared to N614 previously. Other major price drops were ...

Nigeria's pioneer cement manufacturer, La Farge Africa is soon to try to raise N89.21bn through a rights issue. According to company Secretary, Adewunmi Alode in a formal notice to the Nigerian Stock Exchange on Tuesday, December 4, 2018; the rights offer has been approved by the Board of Directors of the company. This approval was sequel to resolution passed by shareholders at the Extraordinary General Meeting held on September 25 2018. The rights, adds Alode, will be issued 6 new shares for every 7 held by shareholders currently and the new shares will be issued at N12 per share to raise the new capital. That means that shareholders will pay N72 for each set of the 6 new shares they will receive in addition to 7 they already hold. At the price, he said, the offer was about 10.45% discount on the quoted price by Monday December 3, 2018. However, before hitting the market, the rights issue still has some regulatory hurdles to scale.

The bond market at Nairobi stock market ended Tuesday December 4 2018 with new normal: Dominance of trade in stocks with less than Ksh 50m nominal value over those with above this figure. In all, only four stocks with nominal value above Ksh50m closed with deals while 12 below Ksh 50m nominal value recorded trades. The norm all these months has been the reverse with corporate bonds and sell or buy back chipping in intermittently. In the end a total of Ksh 1.05bn worth was traded in the market through 39 deals compared to Ksh 1.314bn in 56 deals on Monday. Of this sell or buy was responsible for Ksh 200m worth and government stock issued October 2018 and due 2033 topped with Ksh 400m. At the equity segment, the All share index dropped marginally by 0.03points to 146.49  as 21 price drops and 18 gains were recorded. Lead gain was by East African Breweries, up Ksh 2.75 per share, as it closed the day at Ksh 196.50 per share after hitting day high of Ksh 199 and low of Ksh 194.75 per share...