JULY 14, 2017: SLOW AND STEADY WEEK FOR ASI AT NIGERIAN SE

The All shares index completed a five day slow climb without break today, Friday July 14, 2017 at the Nigerian stock exchange  rising by 0.04% to 33,261.66 without earth shaking price changes.

It was indeed the lowest of the daily growth as it rose by 0.48% on Monday, followed with 0.65% on Tuesday and 0.47% come Wednesday before hitting week high growth of 0.80% yesterday.

Today, however, 0.21% drop in banking index to 412.85 acted as one of the slow downs while industrial index lead pressure upwards with 0.38% growth to 2034.34 followed by the duo of Oil and gas and Consumer indices with 0.12% increase to 324.85 and 768.75 respectively.

Traded value was down by 14.4% to N3.27bn and number of deals too which at 3113 represented 14.3% decline on yesterday's 3631 but traded volume rose by 7.9% to 311.6m shares courtesy of the offload recorded in UBA.

By the day's close, UBA witnessed 2nd ranked 204 deals for 103.19m shares worth equally leading N924.06m while gaining 0.11% in price.

In volume terms, no other equity came close with Diamond bank trailing with 53 deals for 44.83m shares worth N57.4m while , like UBA, closing marginally up by 0.78%.

The other major contributor to volume was FBN Holdings in which leading number of deals {374) were sealed for 36.87m units worth 5th placed N224.6m closing down by N0.14 per share or 2.27%.

But in terms of traded value, Dangote Cement shadowed UBA with 53 deals for 2.926m units worth N611.95m and Zenith bank followed with 5th ranked 166 deals and 16.04m units worth 3rd placed N353.049m while closing N0.17 per share down or by 0.77%.

FBN Holdings lead number of deals was followed by UBA then GTB in which 197 deals were recorded for 5.90m shares worth 6th placed N215.04m. GTB closed down N0.30 per share or by 0.81%.

There were 27 gainers and 15 price losers with Beta Glass 2nd place N2.6 per share gain being remarkable because it was accompanied by rare offload of 9th ranked 5.785m shares in just 4 deals worth 4th placed N315.2m.

The leading Naira gainer though was Forte Oil, up N2.67 per share or by 4.99% recording 4th placed 171 deals for 1.45m units valued at N80.29m.

Top % gainer however, was Unity Bank up 7.35% or by N0.05 per share recording 19 deals for 0.177m shares worth N0.125m followed by Union Bank with 5.35% or N0.28 per share rise with 26 deals for 0.20m shares worth N1.064m.

The price drops were led by Con Oil in Naira terms as it lost N1.57 per share or 4.98 % but in % by Oando, down 9.58% or 2nd highest N0.80 per share.

There were two price changes recorded in the equity segment of the market, all drops: VSPBondETF at N131.07 per share dropped by 6.45% or N9.04 per share and StanbicETF30 lost N2.51 per share or 2.63% to close at N93 per share.

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