LOSERS CROWD BUT ALL SHARES INDEX DOWN A BIT

Wednesday, February 22 2017: Today ended at the Nigerian stock exchange with a relatively crowdy 19 losers compared to only about nine gainers yet All shares index went down by only 0.007% to 25249.74 from Tuesday's 25251.63.

It was a low key day too as volume dropped further by 9.69% to 118,456,164 units and number of deals also declined by 7.36% to 2579.

Nigerian Breweries had gained day high N4.9 per share or 3.99% up, Guinness had also gained N2.85 per share and Diamond bank led % gain with 4.71% but combined they only stopped ASI from slipping faster.

The main pressure on ASI downwards was the N23.99 per share or 4% loss by Nestle Nigeria to N576 per share.

Though high in Naira terms, the Nestle drop  was at the bottom of the seven equities that closed down by above 4% for the day. Leading % drop was by Unilever, dpwn 4.98% or N1.61 per share followed by UACN with 4.89%; United Capital still seeking a bottom (down 4.86%); and Continental Reinsurance with 4.59%; UAC Property down 4.52% and Vitafoam with 4.04%.

Low volume meant that Zenith International almost accounted for 50% of sold units as day high 283 deals were recorded for 42,033,169 units at N14.68 per share (up 0.68%).

In terms of deals it was followed by Forte Oil (199 deals for 703202 units)and  United Capital with 198 deals for second highest 14,075,839 shares.

Other equities with day notable volume were Fidelity Bank (8,990,650); Transcorp with 6,691,348 units in 62 deals, Diamond bank (6,302,792 units) and rare sale in Associated Bus Service in one deal for 5,720,000 shares.

Nigerian Beweries ended with third highest deals (190) followed by FBN Holdings with 168; Guarantee Trust bank (136) and United Bank for Africa (115 deals for 3,322,773 shares).

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