JULY 27, 2017: VERY ACTIVE THURSDAY AT NIGERIAN STOCK EXCHANGE

Today, Thursday, July 27, 2017, was rather very active at the Nigerian stock exchange, as bullish pressure continue to drive all shares index upwards 1.56% to 37245; traded value more than doubled to N8bn; traded volume rose by 61.9% to 542.8m and number of increased by 0.92% to 5939.

The traded value leap was more remarkable and it occurred as major offload was recorded in UBA and two other equities: Zenith bank and Nigerian Breweries sealed deals worth above N1bn each as well.

Zenith bank, up N0.1 or 0.43% topped traded value with N1.6bn as equally leading 623 deals were sealed for 2nd placed 63.03m shares minor offload.

Nigerian Breweries chipped in N1.24bn 124 deals were recorded for 7.31 m shares while going up by 2nd placed N7.87 per share or 4.74%

UBA, however, paced volume as 117.26m units were offloaded in 2nd placed 456 deals worth N1.19bn. It had closed N0.02 up or by 0.20%.

Thus together, these top three by value accounted for 50.5% of traded value although not too far from the N1bn mark, GTB, up N1.42 per share or by 3.59%, witnessed 6th ranked 366 deals for 17.56m shares worth N699.18m followed by FBN Holdings, although from a distance as it recorded 3rd placed 455 deals involving 51.54m share(3rd ranked to) worth N308.23m.

The lead by Zenith, UBA and FBN in terms of deals struck was followed by Dangote Cement with 429 deals for 17.938m shares worth N98.2m; GTB then Access bank, down N0.25 per share or by 2.37%, with 228 deals for 8.20m shares worth N84m.

The 1.55% increase in All shares index was the least % growth since this week of daily leaps. It closed 1.86% higher on Monday; topped up by 2.54% on Tuesday then climbed further by 3.40 % yesterday.

This was sustained this Thursday by 38 price gainers particularly top growth of N45.50 per share or 5% by Nestle Nigeria to close at N955.50 per share. Indeed, it was a crowded scene of gainers with above 4% top up (14, in all) with Con oil leading % gain with 10.17 % or N3,36 per share.

Indeed, the ASI upwards move this time was inevitable and depended less on any shove by a highly capiyalised equity. The 2nd placed increase was recorded in Nigerian Breweries and from then on, a near cluster formed around N2 and N3 price gains.

The price drops came to 17 with 6 above 4% decline each led by Cadbury Nigeria, down 9.68% or by N1.20 per share followed by UAC Property in % terms with 5.46% or N0.16 per share drop while La Farge Africa trailed in Naira terms with N1.01 per share or 1.66%

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