SEPT 6 2017: U TURN FOR ALL SHARES INDEX AT NIGERIAN STOCK MARKET

At the Nigerian stock exchange today September 6, 2017, the All shares index finally made a u turn to close up by 0.58% to 35,609.07 after daily drops since last week.

The u turn was driven not unexpectedly by price gains in the premium board resulting in 1.31% rise in premium index to 2284.99 and amongst oil and gas equities leading to 1.32% increase in oil and gas index to 293.81.

Consumer goods index, up by 0.78% to 951.49 also aided as much this growth rate was ahead of ASI growth.

There 21 price gains and 23 drops with the gain spread being more the decisive factor. That and gains by equities with high market capitalisation 

Seplat Petroleum led Naira gains with N16.02 or 3.44% per share. Incidentally that was regain of part the leading N24.52 drop it recorded yesterday.

Seplat closed Yesterday at N465.08 per share and opened today at N482 per share and closed firm there without any other change. It also witnessed just 3 deals for 0.202m shares worth N97.7m.

Its lead gain in Naira was trailed by Guinness Nigeria with N8.12 per share or day high 10.24%. Even though Guinness recorded 45 deals for 0.396m worth N34.81m, the price jump seems related to full year figures to June released this week which indicates leap from 2016 loss to N1.923bn profit.

Guinness Nigeria had closed yesterday at N79.27 per share after gaining N3.77, opened today at N83.23; hit a day high of N87.39 and closed there.

The losers were paced in % terms by PZ Cussons as it dropped N1.36 per share or leading 4.98%. PZ had closed yesterday at N27.30; opened at N26.01; hit day low of 25.94 and closed there 

It witnessed 55 deals for 0.489m shares worth N12.72m.

In all both traded volume and traded value recovered by 22.5% to 281.8m shares and 13.6% to N5.424bn.

Both were propelled relatively more the offload of leading 68.54m shares recorded in GTB involving 5th ranked 233 deals worth leading N2.693bn. Indeed, GTB accounted for 49.7% of traded value for the day and leading top 4, as they accounted for 64.3% of volume.

Of the rest three, Access bank posted 4th ranked 244 deals for 56.639m offload worth N577.67m; FBN Holdings recorded leading 386 deals for 32.688m shares worth N194.69m and Fidelity bank witnessed 3rd placed 258 deals for 25m units worth N32.63m.

However, Mobil oil led Naira losers down N1.50 per share or 0.90% witnessing 32 deals for 0.074m shares worth N12.34m.

Yesterday the same Mobil oil had reversed daily drop with 2nd highest N2.39 per share gain 

In spite of the increase in traded volume and value, number of deals struck dropped by 2.91% to 4066.

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