AUGUST 17, 2017: GEAR CHANGE AT NIGERIAN STOCK EXCHANGE

There was gear change of a kind today August 17, 2017 as some of the major price movements yesterday that led to higher decline rate for the All Shares Index regained lost grounds and punctuated yet again, days of decline.

The All shares index rose by 0.59% to 36,316.58 after yesterday's 2.69% drop principally because led by Dangote cement, many equities regained grounds while a few lost some if yesterday's gains.

Dangote cement closed down by leading N11 per share yesterday, today it regained a about 50% of that as it gained N5.80 per share to lead Naira gainers.

Some other equities too regained grounds: Zenith gained N0.51 today out of N0.76 per share it lost yesterday; Total oil gained N1.11 out of N9.55 earlier lost; GTB gained back N1.82 per share it lost earlier and FBN Holdings closed N0.03 per share up as against N0.04 lost yesterday.

On the other hand, equity of the moment, Nestlé Nigeria went down today with 2nd highest N10 per share after topping with N11.90 per share previously and UBA eased by N0.20 per share compared to N0.09 per share gain yesterday.

Lead drop for the day was recorded in Mobil oil (Double One PLC) as it closed down by N11.84 per share or 2nd highest 5% . In % terms it was paced by Eternal oil down 6.01% or N0.22 per share.

As for % gainers, Fidson Healthcare topped the bill with 5% or N0.15 per share and was followed by May & Baker, with 4.98% drop or N0.14 per share.

In the end, the rise in ASI was accounted mainly by 2.54% rise in Premium index to 2378.69 as most other indices except ASEM and Lotus recorded less than 1% drops.

Much the same way, trading closed marginally up on all three indicators: Traded volume rose by 0.45% to 225m shares; traded value increased by 0.76% to N5.479bn and number of deals ended at 5110 or 5.97%.

Nestlé Nigeria led traded value even as it recorded price drop. It witnessed 70 deals for 1.34m shares worth N1.62bn.

GTB followed with N924.82m worth of 232 deals for 24.72m units, which was the day's 3rd highest volume.

Top volume was Custodian Insurance's 30.3m shares  in 34 deals worth N115.06m followed by Zenith with 445 deals for 25.969m units worth N597.388m and GTB.

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