WEEK 42 CLOSES RECORD LOW AT NIGERIAN STOCK EXCHANGE

Week 42 ended today, Friday October 20, 2017 with record low 106.5m shares changing hands, down 46.4% on yesterday's 198.6m units.

The lowest traded volume on a trading day for a long while had been 114.76m shares dealt in on September 11 followed by 119.89m shares on September 13, 2017.

Indeed, traded volume had headed down daily since October 17. On that day, 3890 deals were recorded for 211.87m shares which dropped to 198.63m units in 3543 deals then further trended down to 140.87m shares but at a higher 4159 deals by Thursday October 19, 2017.

Subsequently, traded value dropped by 36.9% to N1.883bn and number of deals decreased by 9.882% to 3193.

It was a bearish day of sorts too as only 9 price gains were recorded compared to 21 drops and so, the All shares index resumed its daily decline easing by 0.16% to 36,587.31 after yesterday's punctuation.

Through the week too losers dominated with 34 trending down as against 21 price gains.

International Breweries led Naira gains today with N4.49 per share and ended up topping the week's gain as well with N9.12 as it closed at N51.01 per share compared to N41.89 last Friday.

It had ended Thursday at N46.52 per share then opened today at N48.84 and hit day high and close of N51.01 per share. It witnessed 19 deals for 0.092m shares worth N4.69m by the close of the day.

The day's top Naira decline was Nigerian Breweries down N1.98 or 1.22% per share followed by Forte oil with N1.35 or 2.93% down per share.

However, top decline for the week in Naira was by top market blue chip, Nestlé Nigeria which closed Friday at N1200.27, down N40.23 per share when compared to week 41's close.

Other major losers for the full week were II PLC ( Formerly Mobil oil) and Total Nigeria down N8.15 and N8.00 per share respectively.

The week's most sort after by investors as reflected by deals struck was Sterling bank with leading 1888 deals involving just 50.529m shares worth N50.97m.

It edged out Zenith bank which witnessed 1830 deals for 86.337m shares worth N2.265bn, which turned to be 2nd highest traded value for the week.

Top traded value was recorded as GTB witnessed 5th ranked 882 deals for leading 99.829m shares worth N4.177bn out of which today closed with 155 deals for 4.12m shares worth N171.82m.

Zenith bank though dominated today's lean trading by all 3 trading indicators as it paced deals with 396, volume with 24.02m and traded value with N628.57m.

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