AUGUST 22, 2017: ALL SHARES INDEX UP 1.03% AT NIGERIAN SE

As the Nigerian stock market today, August 22, 2017 made u-turn on Nestle Nigeria and Dangote cement, the All shares index recovered grounds lost yesterday at 36,962.48, up 1.03%.

Yesterday, it had been dragged down, more or less, when Nestle Nigeria lost N9.99 per share and Dangote cement went down by N9.38 per share.

Today, both equities reversed direction with Nestle Nigeria rising by leading N20.19 per share or 1.68%. It had closed yesterday at N1200.01, opened today at N1210.2 before hitting new high of N1220.2 per share.

Dangite cement too gained N9.28 per share, just 10 kobo short of what it lost yesterday. But on the ladder, it was eased to 3rd place in terms of Naira gain by Total Nigeria which closed up N11.40 per share or day high 5%.

Caverton Offshore shared the %gain top spot with Total as it closed up by N0.05 per share. Thus between them , the four led % and Naira gains for the day.

However, while Dangote cement's gain resulted in 2.76%  rise in premium index to 2427.42 ( with a little help from FBN Holdings), oil and gas index went down by 0.28% to 308.68 in spite of the Total Nigeria gain.

This was because two major petroleum products marketers led losers in both Naira and % terms. Mobil oil ( the name is still unchanged in the official list) dropped by leading N11.25 per share or 2nd ranked 5% while Con oil 2nd placed N3.3 per share or day high 9.74%.

Among trading indicators number of deals increased by 2.68% to 3829, but volume dropped by 33.7% to 244.3m and traded value declined by 41.5% to N3.67bn.

It was indeed a day of relatively low trade but for the offload recorded in Livestock feeds as 101.18m shares changed hands in 31 deals.

Also, traded value was saved from reflecting low trade by 1.027m units offered in high priced Nestle Nigeria as it hit a new high in 66 deals worth N1.25bn.

The nearest trades value to  Nestlé was GTB's N670.46m worth in leading 348 deals involving 16.47m shares. Incidentally, it was also 2nd to Livestock feeds offload.

In number of deals struck, Twp others above 200 were 246 deals in FBN Holdings for 6.82m units worth N40.86m and Zenith's 228 deals for 7.20m shares worth N169.31m.

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