NOV 20 2017: NOTHING LIKE GIDDY FRIDAY AT NIGERIAN SE.

The trendy high trade with which the Nigerian stock exchange ended week 46 last Friday was no where in sight today, Monday November 20 2017 as week 47 took off low beat.

Even the gradual recovery of the All shares index that seemed like gathering momentum Friday as it rose by 0.35% compared to 0.04% Thursday, slowed to only 0.08% growth to 36,792. It inched nearer the 37,000 range though that it slipped from much earlier.

Nestlé Nigeria led 17 price gainers to push the ASI upward as it gained leading N4.87 per share or 0.39% followed by PZ Cussons which topped up by N2.3 per share which came to 10.23%, the day high % gain.

Both equities struggled to make their gains though it was easier for Nestle Nigeria as it opened at N1255.32 per share then rose further to close at N1255.9 per share. It recorded 47 deals for 0.099m units worth N125.02m.

As for PZ, it opened at N23.61 per share, hit day low of N22.5 then day high and close of N24.79 per share. PZ witnessed 46 deals for 1.18m units worth N27.39m.

On the other hand, Forte Oil led 15 price losers in Naira and % terms as it lost N4.73 or 9.73% per share and recorded 96 deals involving 1.18m just like PZ but worth N51.846m.

Forte Oil closed giddy Friday at N48.62 per share, opened at N46.19 then eased some more to close at N43.89 per share.

Not unexpected, traded volume collapsed to just 208.7m shares from Friday's 1.827bn shares; traded value dropped to N2.45bn from Friday's N6.306bn and number of deals decreased to 2993 compared to 3097 previously.

Investors interest in FBN continued to be high as it witnessed day high 366 deals for 2nd placed 27.45m shares worth N190.07m.

Zenith bank followed with 259 deals for 5th placed 12.775m shares worth top of the day's N319m.

GTB was only other equity with 200 and above. It recorded 200 deals on the dot for 4.878m units worth 4th ranked N206.79m.

International Breweries gathered attention by recording 2nd highest Naira drop of N0.95 or 1.83% per share and 3rd highest traded value of N249.63m involving 4.908m shares sold in 19 deals.

However top traded volume for the day was recorded in Custodian Insurance which 40.45m shares were offloaded in 4 deals worth N151.72m.

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