ALL SHARES INDEX CASCADES AT NIGERIAN STOCK MARKET

At the Nigerian stock exchange today August 30, 2017 for the 3rd day running cascaded downward after last Friday's recovery. It dropped by 1.45% to 35,629.13.

The current journey downward started on Monday as it declined by 0.9% to 36317.31 then followed up with 0.42% to 36,165.93 yesterday.

The drop rate apparently increased today Dangote cement and Guinness joined Mobil oil with Naira drops just as truly bearish pricing led to only 7 price gains and 31 drops.

Mobil oil, still searching for a bottom, led Naira losers by going down N8.68 per share or 3rd highest 4.99%. It had closed Tuesday at N173.79 and opened and closed the day at N165.11. It also recorded 48 deals for 0.173m shares worth N28.6m.

It was closely trailed by Dangote cement down N8.13 per share or 3.82%. Dangote cement closed Tuesday at N212.65 per share, opened at N205 and hit day low of N204.52 per share. It ended the day with 10th ranked 104 deals for 3.219m units worth day high N659.9m.

Top % price drop was however witnessed by both First Aluminium and NAHCO down 5% each to lead the four equities with above 4% drop.

The gainers were led in Naira terms by Total Nigeria, up N6.50 per share or 2.75% followed from a distance by Nestle Nigeria with N1.40 per share gain or 0.76%.

However, little Cutix PLC led % gainers with 9.95% or N0.22 per share. Cutix released latest figures yesterday. It closed the same yesterday at N2.21 per share, opened today at N2.32 then hit day high of N2.43. It recorded 11 deals for 0.444m units worth N1.078m.

Traded volume closed 66.17% higher at 239.9m in 4371 deals, up 17.5%.

No dominant offload as such as Fidelity paced volume with 42.81m units in 4th placed 253 deals worth N58.21m.

It was followed by Sterling bank in which 39.15m shares changed hands in a scramble that led to day high 707 deals worth N39.89m and Access bank with 33m shares in 2nd ranked 325 deals worth N324.797m.

Total traded value came to N2.929bn with Dangote cement's lead followed by Nestlé Nigeria with N604.9m in 46 deals for 0.496m shares.

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