AUGUST 28, 2017: TOTAL UP N19.70 AT BEARISH NIGERIAN SE.

Total Nigeria did quite a solo today Monday August 28, 2017 at the Nigerian stock exchange by gaining N19.70 per share in a clearly bearish day in which far more equities recorded price drops leading to 1.44% drop in the All shares index.

Total had closed Friday at N216 per share and opened the day at N227 before hitting day high of N236.50 per share at which it closed the day. It also recorded 26 deals for 0.024m units worth 5.663m.

In all there were only 9 price gainers for the day and Total Nigeria led both Naira and % gains with 9.09% increase also a solo one above 5%.

In view of the Total solo closing, Mobil oil's leading N9.62 per share or by 5% could not make oil and gas index join the rank of banking, consumer and premium indices to bring the ASI down.

Mobil oil ended Friday at N192.55 per share; opened today at N186 before slipping further to close at day low of N182.93 per share. It witnessed deals for 0.194 shares worth N36.16m.

In all there were 30 price drops and Mobil Oil's lead was followed in Naira terms by Nigerian Breweries, down N4.99 per share or 2.63% and Guinness with drop of N3.43 per share or 4.21%.

Total was not alone on the solo track, it had a rare companion in Custodian Insurance which in a very rare showing led the market in both volume and value.

Custodian witnessed an offload of 190.55m shares in 21 deals  worth N647.89m. Thus it says a lot about the activities for the day as this also topped traded value.

In value terms, next in line was Stanbic IBTC's N252.02m in 52 deals for 6.30m shares and Zenith's N228.22m in 4th ranked 212 deals for 9.736m units.

In volume terms next to Custodian Oando in which 27.37m shares changed hands in 3rd ranked 110 deals worth N185.36m.

The deals were scarce too with Dangote flour pacing with 249 deals for 5.67m shares worth N33.86m followed closely by GTB with 246 deals involving 4.56m shares worth N180.86m and FBN Holdings with 221 deals for 6.169m units worth N36.78m.

In the end, traded volume dropped by 17.6% to 348.1m; traded value declined by 8.36% to N2.977bn and number of deals came to 3276, down by 9.15%.


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