NOV 15; 2017: DANGOTE CEMENT TOPS LOSERS AT NIGERIAN SE

Today Wednesday, November 15 2017, Dangote Cement for the second day dropped at the Nigerian stock exchange after closing Monday with day high gain.

It shed N6.55 per share as it opened and closed today at N230 per share, down N6.55 on Tuesday's N236.55 per share.

On Monday it had paced the market with N8.99 per share gain or 3.93% but yesterday it went down N1.45 or 0.61% per share, a figure which was 3rd highest drop for the day.

Naturally this helped to drag the All shares index down on both days with today's 0.37% drop to 36817.45 as further scale down from the high of 37312.8 hit on Monday as it rose by 0.52%.

However, unlike Monday when a very large parcel of 128.92m shares changed hands in Dangote Cement, yesterday, there were only 38 deals for 1.409m units and much lower 18 deals for 0.228m shares today.

Trailing Dangote Cement on the losers table were PZ and 7up down N2.00 per share each but lead % drop out of the 26 drops recorded in the day, was by C & I Leasing which shed N0.13 or 8.97% per share. PZ's own came to 8.93% to place second.

C & I Leasing had closed yesterday at N1.45 per share , opened the day at N1.38 then closed at day low of N1.32 per share.

In sharp contrast, there were only 15 price gainers out of which only Guinness ended the day N1.00 per share higher. Its leading Naira was simply clocked as it opened and closed at N101.00 per share compared to N100 previously.

But AG Leventis paced in % gains up by 8.47% or N0.06 per share followed by Redstar Express up 5% or N0.24 per share.

A G Leventis opened at N0.61 per share then touched and closed at day high of N0.64 thus topping up with N0.06 per share.

Trading indicators trended downwards with number of deals dropping to 3590 from 4238; traded volume declining to 184.24m shares from 238.36m and traded value easing slightly to N3.32bn from N3.41bn.

The drop in traded value was cushioned more as 8.9m shares of Nigerian Breweries changed hands in 3rd highest 243 deals worth N1.288bn. 

NB was trailed from a distance by Zenith bank with N594.07m worth of 2nd ranked 328 deals for also 2nd placed 24.69m shares.

It was FBN Holdings that outshined Zenith in both number of deals and traded volume with 421 deals for equally leading 27.05m shares worth N183.446m only because of FBN's relatively low price as aftermath of consistent daily price slide in recent times.

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