NOV 13, 2017: DANGOTE CEMENT FLEXES MUSCLES AT NIGERIAN SE

At the Nigerian stock exchange today Monday November 13, 2017, top capitalised equity, Dangote Cement virtually flexed it mighty muscles as a huge offload of 128.92m of its shares resulted in N27.08bn traded value.

This drove the day's traded value to N30.02bn with Dangote Cement alone accounting for 90.2%. A figure which also represents growth in multiples on Friday's N2.646bn traded value.

But guess what, there were not too many takers and so, no rush. The Dangote Cement offload dwarfed otherwise remarkable 77.56m shares sold in FBN Holdings today too but while Dangote Cement closed with 84 deals or just 2.22% of total deals for the day, FBN recorded day high 421 deals or 1.85% of the 3778 deals struck within the day.

The FBN Holdings offload was worth N554.89m close to 50% of the traded value of N1bn clocked by Guinness to place a very distant 2nd to Dangote Cement in terms of traded value. 

In the case of Guinness, only 9.898m shares changed hands but it too, got more attention from investors when compared to Dangote Cement as 111 deals were recorded.

But both FBN and Guinness came no where close to Dangote Cement in terms of price change. Dangote Cement rose by day high N8.90 or 3.93% per share during the day. It had closed Friday at N229.01 per share, opened at N234.87 then closed at day high N238 per share.

In contrast, FBN Holdings and Guinness eased by N0.03 and N0.01 per share respectively.

Trailing Dangote Cement in Naira gain was Forte Oil up N3.87 per share or leading 8.78%. Forte Oil recorded only 89 deals for 0.25m shares worth N11.9m.

Other major gainers were Okomu oil up N2.99  or 4.6% per share, GlaxoSmithKline with N0.25 per share and NASCON up N0.14 or 0.92% per share.

On the other hand, Nigerian Breweries dropped by N4.92 or 3.42% to record 192 deals for 0.614m worth N85.59m to lead Naira drops followed by GTB which declined by N1.31 or 3.05%.

Nigerian Breweries closed Friday at N143.9 per share but opened the day at N140.62 then eased further down to day low of N138.21 before recovering slightly to close at N138.98 per share.

In the end, with the price gains recorded, it was rather easy for the All shares index to rise by 0.52% to 37312.8 which is a new high when compared to hitherto leading 37,138.99 hit on November 8 2017.

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