OCT. 26, 2017: FIDELITY BANK, DANGOTE SUGAR PACE DEALS

As far as Henates can recall, for the first time Fidelity bank and Dangote Sugar paced investors interest as reflected in number of deals today, October 26, 2017 at the Nigerian stock exchange.

Leading the pack was Fidelity bank with 389 deals involving 2nd highest 37.07m shares worth N62.42. In recent past above 100 deals in Fidelity was not strange but hardly did it pace number of deals struck. It fell most times comfortably within the top 10 at best.

Much the same way, above 100 deals in Dangote Sugar did not amount to a needle in hay sack trailing at 2nd place was rare. Today it trailed Fidelity bank with 279 deals for just 9.17m units worth N143.9m.

In the end, the pace they set led to 22.6% increase in number of deals to 4384 even as traded volume rose by only 7.15% to 356.8m shares and traded value dropped by 9.38% to N4.224bn.

Other top five deals include GTB's 243 deals involving 24.54m units worth day high N1.029bn; Nigerian Breweries 227 deals for 3.631m shares worth 3rd ranked N562.29m and Access bank in which 225 deals were struck as 5th placed 25.314m shares changed hands for total N249.6m.

Traded volume was however led by UBA once again after yesterday's leading offload. Compared to 85m offloaded yesterday, today 90.51m shares of UBA changed hands in 6th ranked 220 deals worth 2nd highest N842m.

It was followed by Fidelity, then Custodian Insurance with 26 deals for 3rd placed 35.53m units worth N142.1m and FCMB with 98 deals involving 31.72m shares worth N33.28m.

The All shares index dropped once again after two day's upwards. It shed 0.29% to close at 36517.48 mainly as 27 price drops were recorded compared to 19 gains.

The price losers eased by wider margin too led by Nigerian Breweries in Naira terms as it closed N6.00 or 3.73% per share down while undulating through the day.

It closed yesterday at N161 per share; opened the day at N159.11 then hit day high of N159.99 and low of N153 before closing at N155 per share.

On the other hand, Forte Oil paced %drops alongside NEM Insurance with 5% drop each. But while in the process, NEM went down by only N0.07 per share, Forte Oil's % drop translated into N2.12 decrease per share as it opened and closed the day at N40.3 compared to N42.42 per share yesterday.

On the gainers side, NASCON paced both % and Naira gains with N1.55 or 10.18% per share gain. It was a question of opening the day at N15.98 as against N15.22 the previous day then hitting day high and close of N16.77 per share.

NASCON then recorded 73 deals for 0.889m shares worth N14.668m.

Other major Naira gains were Presco's N1.50 or 2.31% per share top up, La Farge Africa's N1.46 or 2.89% gain and Dangote Sugar's N1.28 or 8.79% per share rise.

However, in % terms Dangote Flour trailed NASCON closely with 10.13% or N0.76 per share gain. Dangote Flour then closed the day with 9th placed 190 deals for 5.356m units worth N43.78m.

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