NOV 21, 2017: U-TURN FOR ALL SHARES INDEX AT NIGERIAN SE

After three consecutive trading days of inching back to 37,000 range, at the Nigerian stock market, the All shares index today, Tuesday, November 21 made a U-turn shedding O.52% or 191.53 points to close at 36,600.07.

It had managed to grow by 0.08% yesterday after inching up 0.35% and 0.05% two consecutive days earlier.

With today's drop, it actually lost all it gained in those three days and more since it had fallen to 36617.45 before the gradual recovery.

The U turn occurred as 22 equities recorded price drops as against 19 with gains.

In Naira terms, downwards was led by Nigerian Breweries with N4.50 or 3.25% drop amidst 5th placed 158 deals for 0.56m shares worth N76.39m.

Nigerian Breweries closed yesterday at N138.5 per share, opened today at N138 before closing at N134 per share.

It was followed by Forte Oil N3.89 or leading 8.86% decline to witness 3rd ranked 230 deals for 1.725m shares worth N69.299m.

To pace % drops, Forte Oil had opened at N41.7 per share, rose slightly to day high of N41.8 then eased to close at N40 per share.

For the second day,  Nestlé Nigeria led Naira gains with N5.26 or 0.42% increase per share and then witnessed 61 deals for 0.13m shares worth 4th placed N164.22m.

Nestlé closed the day at N1261.16 per share after opening at N1261.12 compared to N1255.9 per share yesterday.

But Champion Breweries led % drops with 9.09% or N0.18 per share capping with 35 deals involving 0.612m units worth N1.322m.

Trading indicators recovered from yesterday's tough time measuring up to giddy Friday. Traded value increased by 34.6% to N3.298bn, traded volume rose by 23.6% to N257.9m and at 3423 number of deals struck was up by 14.4%.

Tantalizer PLC pulled a surprise as 43.814m shares were offloaded in 2 deals worth N21.9m to lead traded volume followed by Fidelity bank with 35.38m units exchanged in 128 deals worth N56.6m.

FBN Holdings continued to lead number of deals with 282 struck to exchange 5th ranked 15.037m shares worth N104.95m followed by GTB with 248 deals for 9.229m worth N390.28m.

No equity recorded traded value above N1bn but Zenith Bank paced it with N680.66m worth of 4th ranked 27.346m in 211 deals.

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