OCT. 10 2017: CCNN, DIAMOND BANK, NIGERIAN BREWERIES PACE NIGERIAN SE

Today Tuesday, October 10, 2017 the Nigerian stock market danced to different pace setting tunes played three different equities: Cement Company of Northern Nigeria through % gain; Diamond bank through major offload and Nigerian Breweries in solo close with deals above N1 bn.

The All shares index at 36,776.60 ended 0.15% down after two days on the increase as price drops and gains levelled at 19 a piece with the pressure down on ASI coming from more Naira lost than gained.

In % terms the gainers were led by CCNN with a bit rare double digit % growth (10.17%) or N0.86 gain per share which incidentally was also the second highest gain in Naira terms.

CCNN closed yesterday at N8.46 per share, opened today with a leap to N8.88, hit day high close of N9.32 per share. It witnessed 44 deals for 0.493m shares worth N4.533m.

Next to it in % terms was AXA Mansard Insurance, up 5% or N0.10 per share but leading Naira gain was by Flour Mills of Nigeria, up N1.13 or 4.05% per share.

Flour mills closed the day with 66 deals for 1.33m units worth N38.588m.

La  Farge Africa led Naira drops as it closed N2.39 or 4.20% down witnessing 59 deals involving 0.475m shares worth N25.98m.

It was trailed by Nigerian Breweries which closed N1.1 or 0.65% per share  to record 128 deals for 7.387m shares worth pace setting N1,247.6m

But the leading % drop was by C & I Leasing which not too long ago recorded daily leading % price gains per share.

C & I Leasing closed yesterday at N1.92 per share, opened at N1.83, hit day high of N1.89 before day low and close of N1.74 thus losing N0.18 or leading 9.38% per share.

Diamond bank paced the market as 215.76m shares were offloaded in 338 deals worth N215.729m as it eased by N0.05 per share.

No other equity came close in volume terms with Fidelity bank's 15m units sold placed 2nd in 189 deals worth N20.7m.

In the end, the day closed with 34.7% rise in traded volume to 353.19m; 8.65% increase in traded value to N3.255bn although number of deals dropped by 1.9% to 4201.

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