JULY 24, 2017: NOT BULLISH, INDEX NEW HIGH AT NIGERIAN SE

At the Nigerian stock exchange today Monday July 24, 2017, the bulls were not quite in sight as equal number of price gains and loses were recorded but the All shares index grew strongly by 1.86% to hit new high at 34,652.52.

This was mainly as most capitalised Dangote Cement topped 20 gainers in Naira terms with N10.60 per share or 2nd rated 5%.

Aided by N0.30 per share or 1.31% gain by fellow premium, Zenith bank as FBN Holdings closed firm, the Dangote cement gain pushed premium index up by 4.18% to 2406.75 and industrial index up by 2.51% to 2185.81 to showcase the only two indices with above ASI growth.

Interestingly, high priced and so, equally weighty Nestle Nigeria's lead drop of N16 per share or by 1.74% could not counter fully the growth in ASI and industrial index.

This was probably because amongst the 20 price losers, Nestle Nigeria's Naira drop was quite a solo run as trailing from a distance was Okomu oil's N0.50 per share or 0.78% decrease.

Lead % gain and drop though were by Transcorp, up N0.12 or 8.05% and AIICO, down 5% or N0.03 per share.

The day's traded volume came to 293.75m shares with Access bank, up N0.43 per share or 4.46%, accounting for lead 73.56m units offload in 3rd ranked 245 deals for 2nd placed N730.18m followed by UBA, up N0.33 per share, with 4th placed 220 deals for 34.6m shares worth 6th N323.27m.

On the other hand, traded value was N3.949bn, with lead contribution by GTB, up N0.01 per share with 5th ranked 206 deals for 32.57m shares worth N1.216bn followed Access bank, then Dangote cement with 79 deals for 2.119m shares worth N469.15m.

The total number of deals struck closed at 3712 with FBN Holdings pacing with 357 deals for 5th ranked 14.569m units worth N87.28m followed by Zenith bank with 293 deals for 6th placed 14.55m shares worth 5th N336.69m.

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