NOV 9. 2017: TRADED VALUE GOES SOLO AT NIGERIAN STOCK MARKET,

As most trading activity indicators trended downwards Thiursday, November 9, 2017 at the Nigerian stock exchange, traded value ended with exceptional 94.9% increase to N3.52bn from yesterday's lowly N1.80bn.

It was a clear solo run since All shares index dropped by 0.24% to 37,051.54 after in roads into the 37,000 range; traded volume declined by 9.16% to N175.75m and number of deals decreased by 14.0% to 3357.

Traded value solo run was driven more by GTB's above N1bn trading value {N1435.2m} which involved also day high 34.18m shares in 4th highest 193 deals. For a while, above N1bn traded value has been scarce and GTB rekindled it while gaining N0.40 per share.

11 Plc (hitherto Mobil Oil) came close to the N1bn mark too and so, also contributed substantially to the traded value solo. It recorded 18 deals for 4.94m shares worth N815.36m while gaining leading N11.99 per share.

11 PLC had closed Wednesday at N153.01 per share; opened Thursday at N160.66 then hit day high and close of N165.00 per share thus topping up by 7.84%, the 3rd highest % gain for the day.

Also, Presco earned a place when talking of the traded value so run since it was the only other equity that witnessed traded value above N200m. Its N206.66m traded value came from 48 deals for 3.129m shares as Presco rose by 3rd placed N2.00 per share or 3.13%.

Together GTB; 11 Plc and Presco accounted for N2.457bn or 69.8% of traded value for the day.

One thing though, 11 Plc's high Naira gain supported by gains made by 20 others including 2nd rated N3.79 per share by International Breweries and N2.00 per share too by Forte Oil plc, could not stop the ASI from closing down.

Yet, of the 22 price drops recorded, only Dangote Cement's leading N1.99 or 0.86% drop per share crossed the N1 mark. For Dangote Cement it was a simple matter of opening and closing the day at N229.01 per share after Wednesday's N231 per share accompanied by 26 deals that resulted in the exchange of 0.066m shares worth N15.13m.

Lead % drop was by Law union & Rock Insurance and NPF Micro Finance, down 4.62% each or N0.03 per share for Law Union and N0.06 per share for NPF.

On the other side, lead % gain was recorded by Caverton Offshore, up 9.46% or N0.14 per share followed by International Breweries with N3.79 or 8.38% per share.

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