NOV 23, 2017: OFFLOAD RAIN AT NIGERIAN STOCK EXCHANGE

At the Nigerian stock exchange today November 23, 2017 there was a shower of offloads and yesterday's equally impressive traded volume was surpassed easily.

Traded volume came to 513.8m shares, up 55.1% from yesterday's 331.24m  mainly as a record 8 equities recorded deals for above 20m shares each.

UBA led the pack with 6th ranked 207 deals for 116.63m shares worth 2nd rated N1.14bn after topping with N0.1 per share.

Not too far away, Access bank, up N0.24 per share,  recorded 5th placed 212 deals involving 98.336m shares worth 3rd ranked N987.6m.

Zenith bank, up N0.45 per share, followed with 90.28m shares sold in day high 743 deals worth equally pace setting N2.245bn.

In other words, Zenith and UBA accounted for 52.5% of total traded value and plus Access bank, the trio contributed 59.2% of traded volume.

But the offload rain did not stop with the trio. Tantalizers, which in the last 2 trading days recorded leading offloads, was not finished yet. A total of 44m shares were traded in it worth N22m in just one deal like for yesterday. Possibly a major shareholder was divesting.

Still counting the offloads, Fidelity bank ranked 5th as 36.96m of its shares changed hands in 76 deals worth N59.18m as it gained N0.03 per share.

The parcels were getting smaller but still worthy of note were 22.5m and 22.345m shares traded in Custodian Insurance and Transcorp respectively.

The Custodian one was in 20 deals worth N90.02m while that of Transcorp changed hands in 7th ranked 165 deals worth N29.54m.

FBN Holdings recorded the 2nd highest number of deals (372) but the units involved at 18.399m shares fell short of the top 8 by volume. The deals were worth N127.97m.

The All shares index rose the second day but by a higher 0.22% to 36,688.75 as the day came up with 29 price gains and 11 drops.

In Naira terms the gainers were led by Seplat Petroleum, up N5.00 or 1.02% per share and in % terms by Custodian Insurance's 4.99% or N0.19 per share.

On the other hand, top Naira drop was Stanbic IBTC's N1.50 or 0.15% decline per share and in %, by PZ Cussons, down N1.23 or 4.99% per share.

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