HENATES

This Month of April, it appears the Nigerian Stock Exchange is seeking a bottom to free fall. In 3 days of the month so far, the All share index has declined by record 4.42% or 1372.49 points from 31,041.42 at which it closed March, 2019. On Wednesday April 3, the ASI had dived by 1.85% to 29,668.73 just barely behind pace setting 1.89% drop recorded on January 31 2019. The more note worthy fact was that the Wednesday drop made it 3 days downwards in a row following 0.99% decline on Tuesday after 1.64% dive on Monday. Wednesday was indeed a day of overwhelming price drops as of the 34 price changes recorded 26 were downward, only 8 closed upward. Besides, very marginal price changes that could not be recognised at 12, was ahead of price gainers. Yes,Nestle Nigeria regained N50 or 3.57% per share out of the whopping N130 per share it lost on Tuesday but this did not matter much, the ASI still crashed all the same. Nestle found and closed at N1450 per share compared to N140...

The Ghana Stock Exchange continued to decline on Tuesday April 2 after starting the month with the Ghana Composite Index 4.79 points down on Monday. The GCI shed another 7.52 points to close at 2442.2 on Tuesday as 4 price drops and no gains were recorded in the market. Top price loser was Ghana Oil as it shed GHs 0.06 per share to close at GHs 2.43 per share compared to GHs 2.49 on Monday. And almost hinting at more price drops to come, it closed on bid and offer at GHs 2.16 and 2.34 per share respectively. Interestingly, Ghana Oil has been sliding since Friday. On Friday March 29 and Monday April 1, it shed GHs 0.02 per share each day. However, the closing GHs 2.43 per share was after last deal for 4400 of it's traded shares  was struck at GHs 2.36 per share and that represented a now low. Traded were 59,900 shares worth GHs 145,594 thus leading both traded volume and value for the day. Ecobank Ghana also shed GHs 0.03 per share to close at last deal price of GHs 8 per ...

For the 2nd day on Tuesday April 2, 2019 the Nigerian Stock Exchange continued to shrink after Monday's major dive to herald month of April. The All share index eased by 0.99% to 30,266.77 on top of its sharp 1.64% decline on Monday, April 1. Once again the decline was led by Nestle Nigeria but this time, as it shed N50 per share or 3.45% thus making it N180 per share decline in 2 days. Nestle had hit a high of N1514 per share then slipped to close at N1400 as against N1450 per share previously while recording 53 deals for 0.623m shares worth day high N905.167m. Indeed, all top 5 price drops were major.  Beta Glass followed Nestle's lead with  N6.45 or 9.95% per share decline in 16 deals through which 0.219m shares were exchanged for N15.824m. Other major price drops were Nigerian Breweries' N6.1 or 9.68% per share while witnessing 211 deals involving 13.648n shares valued at N776.547m; Unilever Nigeria's N3.3 or 8.46% decline per share in 34 deals involving 0...

The Nairobi Securities Exchange is still waxing stronger. It closed Tuesday, April 2, 2019 up as All share Index rose by 0.75 points to 159.76. This made it 3rd day upwards after closing up 1.81 points on Friday March 29 and by another 1.35 points on Monday, to start the new month and week. The Tuesday rally was in spite of equal number of price gains and drops (19) and despite Ksh 0.10 per share decline by Safaricom. The gainers were paced by Standard Chartered  Bank with Ksh 4.75 per share increase to Ksh 214.75 per share compared to Ksh 210 per share on Monday and after hitting day high of Ksh 215 and low of Ksh 212 per share. It was followed by Nation Media up Ksh 1.75 per share and Ksh 1.25 per share rise by Crown Paints. In contrast, British American Tobacco led price drops with Ksh 6 per share decline as it closed Ksh 538 per share as against Ksh 544 per previously. The only other major price drop was recorded by Williamson Tea as it shed Ksh 1 per share. Trading r...

The Securities and Exchange Commission of Ghana, SEC Ghana has reviewed and made publish its guidelines for market operators levy for this year 2019. The guidelines contain annual levy payable by different categories of licensed operators, transaction levy and depository levy. Stock Exchanges for example are to pay GHs 20,000 this year as levy while commodity exchanges will pay GHs 10,000. Under the guidelines, securities depository, primary dealers, custodians and issuing houses will pay GHs 15,000 each. Much the same way, Trustees will pay GHs 10,000;  fund managers will pay GHs 5000;   investment advisers and registrars will each GHs 3000 while warehouse operators will pay GHs 2000. The SEC will by end of first quarter ask for the levies to be paid in full or within a maximum of 3 instalments. Purchasers and sellers of securities are also to pay transaction levy of 0.15% for shares and 0.01%of nominal value for bonds. This bond levy will be shared 50% to Ghana Fixed Inco...

It was almost reflective of April fools day on Monday April 1 2019 as the Ghana Stock Exchange recorded activity in only 4 listed companies compared to an average of between 8 and 10 in the past  The total number of shares traded in them came to 67,329, down considerably on 224,685 shares exchanged last Friday and even down on week low 83,645 shares recorded on Tuesday last week. There were 2 price drops though and all downwards resulting in 4.79 points decline in the Ghana Composite Index to 2449.72 from 2454.51 it rallied to on Friday  Ghana Oil shed GHc0.02 per share to close at GHc 2.49 compared to GHc 2.51 per share previously. That is after the last deal as 20,700 shares were exchanged was struck at GHc 2.48 per share thus bouncing back abit after the trade. Bid and offer prices ended at GHc 2.16 and 2.48 per share though respectively.  On the other hand, Ecobank Transnational shed GHc 0.01 per share to close at GHc 0.14 per share compared to GHc 0.15 on Friday. Again, like for G...

On the first day of April 2019, it was rather a dry day at the Nairobi Securities Exchange. although the All share index rose by 1.35 points to 159.01. Most sectors recordee low trade. Only 2 out of 7 in the energy and petroleum sector had deals just like 2 out of 5 equities in investment sector, 3 out of 5 in construction and above all, only 5 out of 13 listed equities in the commercial and services sector. The sectors that recorded fair number with trade were Telecommunications, where as usual so company there closed with deals and Banking where 10 out of 12 closed with deals. Even at that, most of the deals recorded were for relatively low parcels and, indeed, the day ended with lowest number of deals yet: Just 437. In the end, 11.493m shares were exchanged for Ksh 369.645m  compared to 1082 deals involving 18.602m shares worth Ksh 664.809m on Friday. Perhaps, the low trade had to do with the technical challenges that forced the exchange to resume trading behind schedule and so, ext...