OCT. 24, 2017: LOW TRADE, ASI UP AT NIGERIAN STOCK MARKET

After yesterday's recovery in trading at the Nigerian stock exchange, today, Tuesday, October 24 closed relatively on the low side but the All shares index punctuated two days of decline with 0.33% rise to 36531.57.

The ASI increase was understandable since the day ended with 22 price gains as against only 14 price drops.Besides, no drop was up to N1 per share but some gains went beyond that.

Lead Naira gain was by Nigerian Breweries which yesterday was the 2nd highest Naira loser. It gained N4.00 per share or 2.55% compared to yesterday when it lost N3.01 or 1.88% per share.

Nigerian Breweries ended yesterday at N157 per share, opened the day at N162, hit day low of N157.95 before settling at day high of N161 per share.

There was a mini scramble for its shares though as 9th placed 130 deals worth N52.139m were struck involving  less than half a million shares (0.328m).

But NASCON led % gains with lonely double digit % gain of 10.23% or 2nd highest N1.33 per share. It then closed with 25 deals for 0.24m shares worth N3.446m.

There were no struggles involved in its price gain as it simply opened and closed the day at the higher price.

Leading drop was witnessed by C & I Leasing the equity that not too long ago led market gains consistently for a while. It went down 5% or N0.09 per share but Dangote Cement paced Naira losers by shedding N0.99 or 0.45% per share to record 39 deals for 0.157m worth N34.134m.

C & I Leasing yesterday closed at N1.8 per share, opened at N1.73, hit day high of N1.71 before slipping to day low and close of N1.71 per share.

Top traded volume was recorded in UBA in which 7th ranked 152 deals for 33.58m units worth 3rd placed N303m followed by Access bank with 171 deals involving 21.649m worth N215.4m.

However, leading number of deals was recorded in Zenith bank as 12.12m shares changed hands in 268 deals worth N308.8m.

On the other hand, GTB witnessed top traded value of N389.23m in 4th ranked 182 deals involving 9.3m shares.

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