INDUSTRIAL TURNS NSE HALF CIRCLE FEBRUARY 9

The industrial sector more or less turned the Nigerian stock market half circle from yesterday's marginal recovery back to decline today, February 9, 2017.

All share index closed 0.54% down to 25322.3 after yesterday's punctuation of daily dive for more than one week principally because the industrial index went down by 2.33% to 1575.59

This was as the sector dominated the losers list for the day led by a near double digit 9.33% drop in PZ Cussons as it lost N1.19 per share to record 70 deals for 1,013,883 units.

7up Bottling followed 5% down to N106.5 per share for 3 deals that sealed the exchange of 51,343 shares.

Another in the sector, Union Dicon salt in a rare one deal for 126,000 units also lost 4.98% or N0.78 per share to close fourth on the losers chart after Forte Oil's third place 4.99% decrease.

Others in the sector with above 4% drops on opening price include Champion Breweries down 4.62%; Vitafoam with 4.33% drop, NASCON down 4.26% and LearnAfrica which closed the day 4.23% down.

Lead % gain was by Axa Mansard Insurance which ended 4.61% or N0.07 per share up; closely followed by UACN 4.14 % up or by N0.6 per share.

It was a far less active day as well, as total equity deals fell by 24.5% to 2108 and volume tumbled by 42.4% to 119,405,857 from the heights offloading in AIICO insurance pushed it to yesterday.

FBN Holdings ended with day high number of deals with 221 as 10,692,732 units changed hands; fellow premium equity, Zenith International closed second with 195 deals for 12,502,275 units and Guarantee Trust Bank followed with 150 deals for 5,183,762 shares.

Leading volume was 24,435,907 units in Fidelity bank in 108 deals well ahead of second placed Diamond bank in which 20,295,160 shares were sold.

Many equities rarely offered for sale had deals. The list includes May & Baker Nigeria with 6 deals for 23,424 units; Japaul Maritime with lone deal for 257,740 units and Nigerian German Chemicals in which 2 deals were recorded for just 400 units.

Other rare equities with deals (most lone deals) were CWG, NCR, Chams, ETranzact, and Standard Alliance Insurance in which 2 deals for 10,002,000 shared were sealed.

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