HIGH NOTE CLOSE FOR WEEK 47 AT NIGERIAN STOCK EXCHANGE

Week 47 closed on a rather high note yesterday, Friday November 24, at the Nigerian stock exchange as massive offload in WAPIC insurance drove traded volume up 69.4%; as Dangote Cement leapfrogged to 2nd highest price growth in the week and as the All shares index accelerated from 0.024% growth on Wednesday then 0.22% on Thursday and by 1.68% to 37,305.91 yesterday, just a few points short of its all time 37312 high.

Traded volume ended yesterday at 870.577m shares principally as 650,33m shares of Wapic  Insurance were exchanged in 17 deals worth N325.16m. Wapic is one of those equities rarely traded on the market even though they have the minimum issued capital available for trading required. It ended the day with very insignificant gain that it more or less closed firm and ended up being the top traded equity in terms of volume in week 47.

On the other hand, Dangote Cement led 19 Naira gainers yesterday as it opened the day at N235 per share; hit a day high of N240.5  and a low of N135 per share before closing at N240, ; up N10 or 4.35%.

Incidentally, that was all it needed to be 2nd highest price gainer in Naira terms within the week ttailing  Nestle Nigeria's all week gain of N53.97 per share to hit new high of N1305.00 out of which N3.01 per share was yesterday's top up. But yesterday it was International Breweries that followed Dangote Cement to end up as week 47's 3rd highest gainer.

It closed the week N6.20 up, with yesteday's N4.061or 7.53% gain accounting for the lion share  International Breweries witnessed 143 deals within the week for 33.8m shares worth 4th placed N1.798bn with a large chunk, in terms of traded value, coming from Friday's 54 deals for 17.59m shares worth N985.95m.

Lead price drop in week 47 was Nigerian Breweries  which went down by N8.73 per share from N138.80 per share to N130.07 but that did not affect its 4th ranked 1003 deals of 19.36m units worth 2nd highest N2.623bn traded value.

But yesterday's lead drop in both % and Naira terms by NASCON with  N0.7 or 4.4% drop per share accompanied with 53 deals  for 17.59m shares for N35.95m per share. NASCON opened at N15.22 per share, hith day high of N15.55 then closed at low of N15.51 per share.

On the other hand, Dangote Sugar led % gainers with 9.11% or N1.44 per share gain with day high 248 deals for 2nd highest 46.99m shares traded volume worth 3rd highest N801.4m.. This only helped Dangote Sugar to finish among the top 8 by traded value for the week  as it posted 585 deals involving 62.49m shares worth 8th ranked N1.03bn.

The equity with the highest number of deals in week 47 was  Zenith bank with 1594 deals involving 2nd highest N161.67m shares worth all week leading N4.018bn. Yesterday, though, it recorded only 179 deals for 19.36m shares worth N481.29m.

Close on its heels was FBN Holdings with 1451 deals through which 90.55m units changed hands at N628.97m. A good part of that was Yesterday's top up in 2nd highest 243 deals  involving 21.7m shares worth N151.17m.

POSTSCRIPT: Henates will be on holiday from Monday November 26 to first week of 2018 and this is to wish all viewers HAPPY NEW YEAR hoping to meet again in 2018. Thank you and thank God for everything.


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