WEEK 45: RATHER QUIET AT THE NIGERIAN STOCK EXCHANGE

Week 45 of 2017 that ended yesterday Friday November 10, was a rather quiet one with super gains and super losses.

Sure, the All share index hit a new high within the week and continued to stay within the once out of reach 37,000 range but so many up today, down tomorrow spoilt any noticeable trend.

Besides, it was the week budget 2018 was laid before the National Assembly and no ripples were felt even by Friday close three days after the presentation.

There were 34 price gains and 29 drops but not was that spectacular to raise eyebrows. The week's lead was by Forte Oil as it closed up by N4.10 per share at N44.10 per share.

More than 50% of this gain (N2.10) was witnessed yesterday Friday as Forte Oil opened and closed the day at N44.1 per share after closing Thursday at N42. It then recorded 69 deals for 0.28m shares worth N12.85m.

Lead price loss was by Total Nigeria as it slipped from N236 per share the previous week to N230 by yesterday, thus down by N6.00 per share.

This was accumulated before Friday though because lead Naira drop yesterday was by Cement Company of Northern Nigeria down N0.43 or 4.43%  followed by Fidson Healthcare with N0.18 or 4.57% decrease per share.

CCNN closed Thursday at N9.7, opened yesterday at N9.22 then hit day high and close of N9.27 per share.

Much the same way too with Cadbury Nigeria which led yesterday's % gains by closing 10.18% or N1.14 up per share as it closed at day high N12.34 after touching a low of N11.65; all ahead of Thursday's N11.2 per share but below its opening N11.76.

Champion Breweries paced Friday's % losers with 5% or N0.11 per share but simply by opening and closing the day at N2.09 per share compared to previous day's N2.2.

Most traded equity within the week in plain terms of volume was Jaiz Bank in which there was very major and rare offload on Thursday leading to total of 88 deals for 233.16m shares worth N137.6m within the week.

However, in terms of deals struck, FBN Holdings paced the market with 1959 deals for 3rd ranked 156.83m units worth 4th rated N1.109bn. Yesterday, FBN had added 289 deals for 23.99m shares worth N172.7m.

In the case of traded volume the pacesetter for the week was GTB with N2.715bn involving 3rd placed 1031 deals for 5th ranked 64.63m shares.

Yesterday closed N0.50 per share up and recorded 175 deals worth N303.3m through which 7.124m shares changed hands.

The leading equity in terms of all trading indicators yesterday was however Zenith Bank. It witnessed day high 324 deals, 32.95m shares worth also leading N824.21m. But add up the full week, Zenith had 2nd rated 1266 deals, 6th ranked 56.3m shares worth 3rd placed N1.423bn.

In the end, yesterday the All shares index recovered 0.19% to 37,120.28 as 19 gains and 18 price drops were recorded; number of deals eased by 3.63% to 3235;  traded volume closed down by 0.27% at 175.27m and traded value declined by 24.9% to N2.646bn.

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