ROMANCE WITH MEDVIEW AIRLINES CONTINUES

The romance of the Nigerian stock market with newly quoted Medview Airlines closed today, Friday with lead gin of 4.67% as 1,087,180 units were sold at N1.50 per share.

It shared day high gain with Guinness Nigeria though, which also ended 4.67% up as fairly high interest resulted in 47 deals for only 118,570 units.

The market remained down with All shares index easing by 0.51% to 25,802.54 on Thursday figure in a week that witnesses continues decline.

Interestingly oil and gas index ended marginally up but certainly it could stop the downward swing as insurance and consumer indices dropped by above 1% each and main board, banking and Lotus indices each dropped by 0.8%.

A total of 144,626,685 shares changed hands in 2350 deals with FBN Holdings leading volume with 34,262,627 shares, followed by Standard Trust Insurance in which 20m units were offloaded amidst low interest (2 deals only) and Guarantee Trust Bank as 18,196,267 shares changed hands in a scramble leading to day high 282 deals. GTB went down 2.46% though at N23.02 per share.

In terms of deals, following GTB wasForte oil with 197 deals for less than a million (889,669) on sale; FBN Holdings with 188 deals for its top parcel and Zenith International with 172 deals for 3,329,979 units.

The gainers pack which Medview and Guinness Nigeria led was lean as only 10 equities ended Friday with gains.

The list included NPF Micro Finance 4.63% rise to N1.13 per share as 3 deals for 100,000 units were recorded and Sterling bank's 4.17% increase to N0.75 per share in 38 deals for 3,362,265 shares.

Losers were led by Axa Mansard Insurance with 5% drop to N1.52 per share as 6 deals for 88,550 shares sailed through, followed by UACN Property with 4.98% decrease and UAC PLC down 4.94% to N15.2 per share.

Two other equities lost ground by above 4%: Custodian & Allied Insurance down 4.86% in 10 deals for 259,950 units and Unity bank that lost 4.76% to record 12 deals for 1,228,500 units at N0.8 per share.

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