NOV 7, 2017: ASI HITS 2ND HIGH AT NIGERIAN STOCK EXCHANGE.

At the Nigerian stock exchange today November 7, 2017, the All shares index hit 2nd highest level since the year while continuing with its up today, down tomorrow trend of recent days.

Yesterday it had eased by 0.024% after Friday's rise abs so, rising by 0.22% to 37,013.57 was very much part of the trend except that it turns out crossing into 37000 range was quite a struggle and today's represents 2nd highest for the ASI since the year.

On August 23, this year it had touched 37,058.21, up 0.26% as the highest so far but went down by 1.30% back into the 36,000 range once again.

Since then it has been a battle to get back. In fact all through September it struggle to stay in 35,000 range before going up and down the 36,000 range all through October and early this month.

Naturally, there was good support from Dangote Cement as it closed the day N2.00 per share up, amidst 22 other price gainers.

However, lead Naira gain was by Total Nigeria with N5.00 or 2.22% gain per share. There was hardly any struggle for Total Nigeria as it opened and closed firm at N230 per share through the day compared to N225 per share close yesterday.

It then witnessed just 11 deals for 0.028m shares worth N6.48m.

Lead % gain was by Diamond bank, up 5.17% or N0.06 per share with some struggle. Compared to yesterday's closing N1.16 per share, it opened the day at N1.21 then touched day high of N1.26 and low of N1.15 before closing at N1.22 pee share.

Unlike for Total Nigeria, Diamond Bank did this dance as leading offload of 83.122m shares was recorded in 2nd ranked 436 deals  worth N98.16m.

There were 17 price drops with Mobil (11 PLC) leading Naira decline with N8.02 or 4.98% drop as it opened and closed at N153.01 compared to yesterday's N161.02 per share to witness just 12 deals for 0.014m units worth N2.309m.

On the other hand, pacing % drops was International Breweries  shedding N4.20 or 9.29% per share to close with 36 deals involving 0.212m shares worth N8.74m.

International Breweries slipped from yesterday's N45.2 per share to open at N42.99 then eased further to N41 per share.

There was 34.6% drop in trades volume to 305.17m but not withstanding, traded value increased by 0.09% to N2.905bn while Nigerian Breweries led traded value with N793.87m for 6th ranked 237 deals involving 5.495m shares.

Day high number of deals was however, clocked in FBN Holdings with 448 deals for 2nd placed 39.92m shares worth 4th ranked N241.1m. It closed the day up N0.07 per share.

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