WEEK ENDED 27/1: BULLISH, SORT OF, AT NSE

The Nigerian stock market during the week ended January 27 2017 was bullish in a way as many equities recorded marginal price gains pushing All shares index up 3.9%.

Tuesday was the exceptional trading day when marginal drop in the index and market capitalisation was recorded.

But mild recovery occurred each day from then on to Friday.

In all a total of 14917 deals for 990.6m shares were recorded amidst continued high investor interest in finance services and related shares.

Week high deals and volume were recorded as Zenith International bank had 1314 deals spread out each day of the week for a total of 98.9m shares, almost 10% of the week's volume.

Interest was high too in FBN Holdings where 978 deals took place spread too through the week for a much lower 57.6m shares.

Actually, the second highest volume per equity was in Champion Breweries in which about 94.5m shares on offer were taken up in rather low 41 deals only.

In sharp contrast, investor interest resulted in 930 deals in Guarantee Trust Bank even when fairly small parcels were on offer each day of the week.

The same with Forte Oil in which 888 deals were recorded with total volume not in the week's top ten.

In all, top ten in terms of volume were Zenith; Champion breweries; Diamond Bank; Access bank; UBA; Transcorp; FBN Holdings; Fidelity bank;  Presco and Livestock feeds.

In terms of number of deals were Zenith; FBN Holdings; GTB; Forte Oil; UBA; Access bank; Transcorp;  Diamond Bank and Oando PLC.

There were 28 price gainers within the week out of which 22 were marginal between N0.57 and N0.01 per share.

The top gainers were Total up N17.96; Seplat Petroleum in which above 22m units were sold Tuesday with low investor interest, up N15; Forte Oil up N5.38 and Nestle Nigeria up N5 per share.

Other above N1 price gainers were 7up Bottling active each day for 118 total deals up N1.38 and Oando which closed the week N1.27 higher.

There were 29 losers and only four eased above N1 per share. These were Mobil oil, down N11.44; MRS oil minus N4.21; Guinness Nigeria down N2.10 and Con oil which ended N1.86 down.

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