OCT. 30, 2017: CAUTION STILL REIGNS AT NIGERIAN STOCK MARKET

Cautious price making continued at the Nigerian stock exchange today October 30 2017 despite avalanche of third quarter figures in recent days.

The All shares index edged up by a cautious 0.06% to 36,484.30, the second lowest % growth in October and 3rd lowest since August.

The lowest growth in recent times was October 19's 0.01% to 36,645.65 followed by September 29's 0.03% to 35,439.98 and then today's growth.

Indeed, with one trading day to go, the month of October this year could be classified as one of cautious price making upwards as most days ended with either % drops or % increases below 1% .

Perhaps, many had hoped that with nine months updates pouring in, the picture will change but today confirmed instead that it may take a while, if at all.

In all there were 18 price gains compared to 23 drops with none of the losers going down by above 5%.

On the other hand, two rose by above that. Dangote Flour closed N0.84 or 10.17% per share to pace % gains. It opened at N8.65 per share then closed at day high of N9.08 thus topping up Friday's N8.24 per share.

Dangote Flour is amongst those with latest figures circulating in the market and it ended the day with 8th ranked 111 deals for 4.323m shares worth N39.18m.

Forte Oil was the other above 5% gainer rising by N2.70 or 7.05% to record 94 deals involving 0.313m units worth N12.855m.

Top Naira was however witnessed by Total Nigeria as it opened and closed the day at N240 per share, up N7.25 on N232.75 per share. It also recorded 14 deals for 0.015m shares worth N3.716m.

Amongst the price losers, Seplat Petroleum paced with the day's price change; losing N10 per share or 2.04%. There was no struggle, it opened and closed the day at N480 per share compared to N490 on Friday.

Seplat ended the day with 11 deals for 0.07m shares worth N33.6m.

Morison Industries led % drops with N0.03 or 4.76% decline also without any struggle as it opened and closed at N0.60 as against N0.63 per share on Friday.

Trading was down from all indicator angles with traded volume dropping by 30.3% to 174.95m shares; traded value declining by 39.4% to N1.824bn while the number of deals eased by 14.3% to 3401.

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