SEPT 20, 2017: LOW KEY BUT ASI UP AT NIGERIAN SE

At the Nigerian stock exchange today September 20, 2017 the mood was low key even though the All share index, for the first time since the week, closed up by 1.03% to 35,207.00.

All three trading indicators went down: Traded volume dropped by 22.2% to 137.35m shares; traded value declined by 59.9% to N1.134bn and number of deals struck decreased to 2977.

It was the ASI increase that was the exception and it occurred mainly as Total Nigeria, Dangote Cement, 7Up and Forte oil led 19 Naira price gains while Nestlé Nigeria lone ranged amongst 20 price drops.

Total managed to pace gainers with N7.9 per share top up. It had closed yesterday, Tuesday, at N223.1 per share then opened and closed the day at N231.0 thus gaining 3.54%. It also witnessed 10 deals for 0.027m shares worth N34.27m.

Dangote Cement, on the other closed yesterday at N205.8 per share; opened slightly down at N205.6 then hit day high and final close of N213.39, up N7.59 or 4.87% per share.

Through that upwards journey, it recorded 40 deals involving 0.321m units worth 4th ranked N61.6m.

On its part 7up Bottling closed N4.18 per share up and Forte Oil had N2 per share gain.

In the end ASI growth was driven by 3.02% increase in Premium index to 2296.62; Industrial index's 2.33% increase to 1964.80 and 1.53% growth in Oil and gas index to 280.83.

On the losers side, only Nestlé Nigeria decreased by above N1 per share. After hitting yesterday's new high of N1228.9 per share, it opened today at N1225.0 then shifted slightly to to close at N1225.01thus losing N3.89 or 0.32% per share.

Unlike yesterday when GTB warmed up the market with above N1bn worth of deals, low key ensured no equity had deals worth above N250m and so, Nestlé's 56 deals for 0.164m shares worth N201.39m became the day's top traded value.

Besides, only one other quoted company recorded above N100m traded value: Access bank. It witnessed 5th placed 149 deals for day high 14.927m shares worth N144.38m.

In volume terms, Access bank was trailed by Transcorp PLC with 2nd placed 167 deals for 12.08m shares worth N14.16m and FCMB with 78 deals for 11.8m units worth N12m.

Day high number of deals was recorded in FBN Holdings with 223 deals through which 5.687m shares changed hands at N29.39m.



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