SEPT 22, 2017: GTB STILL PACING AT NIGERIAN STOCK MARKET

Today Friday September 22, 2017 GTB paced trading at the Nigerian stock exchange for the 3rd day in one week.

Just like yesterday, it led the market in number of deals; traded volume and traded value while on September 19, it paced in both volume and value only.

However, today just like September 19 but unlike yesterday, the volume involved was a  fairly large parcel unlike the major offload yesterday.

It witnessed leading 219 deals involving leading 39.76m shares  worth leading N1.55bn. However, it had little to do with day high price gains and drops for the day as it topped up by only N0.65 per share.

Naturally, because yesterday's top level trading figures were paced it at a higher note, trading indicators closed so much down with traded volume dropping by 55.2% to 192.2m; traded value ending at N193.6bn, down 57.6% and number of deals easing by 14% to 2814.

The All shares index, in an undulating dance, closed 0.85% up at 35,488.81 after yesterday's 0.054% drop and rise by 1.03% the previous day.

The gainers were led by two blue chips which tend to swing the ASI with ease given their market capitalisation: high priced Nestlé Nigeria and Dangote Cement.

Nestle close yesterday at N1225.05 per share, opened at N1225 then hit new high of N1230 where it closed the day. Thus it added N4.95 per share or 0.4% and closed 40 deals for 0.6m shares worth 2nd ranked N745.9m.

Dangote Cement, on the other hand, closed yesterday at N210 per share, opened at same price but hit day high and close of N213 to gain N3.0 per share or 1.43%.

It witnessed 28 deals involving 0.598m shares worth N15.44m.

In the end additional top gainers in Naira terms were Unilever, up N2.1 per share: LA Farge Africa with N2.0 gain and PZ up N1.2 per share.

On the losers side, Nigerian Breweries paced down N1.99 per share. It closed yesterday and opened today at N173 per share then eased to day low and close of N171.01per share.

Other top 5 drops were Julius Berger down N1.54 per share; International Breweries with N1.4 per share drop, Presco with N0.94 decrease and NCR, down N0.34 per share.

Livestock Feeds had quite an interesting day. From the N0.84 per share it closed Thursday, it touched day high of N0.88 and low of N0.82 then closed the day at N0.86 per share. It thus gained N0.02 or 2.38%.

Jaiz bank too traded relatively good volume for one rarely traded in recent months in any way noteworthy. It witnessed 2nd highest 36.3m shares traded volume worth N25.4m that placed 10th by value.

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