STOCK MARKET THIS WEEK

The trading week to yesterday Friday  January 13, was yet another one of more price drops than gains.

In all, there were 34 price drops within the week, 26 of them were minor easing below N1 per share.

Top loser was Nestle PLC which, closed the week at N790 per share, down N19. It was followed by 7up  Bottling down N17.6 to N111.4 per share and Mobil Oil which closed the week at N249.86 per share, losing N15.19.

Other major losers include Seplat Petroleum down N9.9 to N370 per share; Guinness Nigeria at N73.02 per share, (-N6.98); Forte Oil down N6.58 at N74 per share; Julius Berger and CAP PLC each losing N3.75 and N1 to close at N34.83 and N32 respectively.

In all there were 27 gainers but the bulk, (24) were minor top ups below N1 per share.

The three major gainers were Okomu Oil up N4.10 to close at N44.27 per share; Presco olc which gained N2.06 per share to close at N42.16 and Total which ended the week at N300, up N1 per share.

In other words, majority of the equities closed firm within the week but not withstanding demand for Finance services; Consumer goods and  oil and gas shares remained fairly high thus accounting for top deals within the week

In all total number of deals recorded came to 16482 with financial services being responsible for 6886 deals, followed by Consumer goods with 2680 deals and Oil and gas with 2246.

Listed equities with top deals within the period include Zenith bank (1257 deals), FBN Holdings with 1085, United Capital with 1021 deals ; UBA (972 deals); Forte Oil (969); Access Bank (820); Oando (733 deals); Fidelity bank (618) and Nigerian Breweries with 588 deals.

In most of them, on offer were the week's top volume and interest was high enough to lead to so many deals.

In the premium board, for example FBN Holdings 86.29m units were offered and snapped up in 1085 deals just like 33.7m in Zenith bank that led to 1257 deals.

United Capital on the main board financial services sector had on offer about 77m share bought through 1021 deals.

Most sectors were active within the week in terms of deals but, of course relatively. 

Hence total market volume within the week came to 111,7330,214 shares in 16482 deals valued at N9040.8m.

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