JAN 29, 2018: NEW PRICING BITES AT NIGERIAN STOCK EXCHANGE

As the new pricing method took effect from Today, January 29 2018, at the Nigerian stock exchange, high margin price changes in equities priced above N100 was not in sight but middle priced and some par equities felt the pinch.

Of the odd 10 equities quoted above N100 and so expected to change at a wider margin of 10k only Dangote Cement up N7.9 or 3.04% made the 41 price gainers to pace Naira gains.

It opened the day at N260.3 per share, struck day low of N260.2 then closed at day high of N268, up on N260.1 per share last Friday 

Two other above N100 equities paced Naira drops: Guinness Nigeria lost N2 per share or 1.79% and Nigerian Breweries declined by N1.80 or 1.19% per share 

Guinness opened at N112 per share at which it closed Friday but slipped to close today at N110 per share.

In all below N5 per share equities dominated price gains as 26 out of the 41 gainers fell in this group. And, to boot 15 of these priced equities with gains were banks.

Diamond bank led % gains with N0.26 or 9.85% gain. It closed Friday at N2.64 per share, opened today at N2.77 then closed at day high of N2.90 per share.

The same way too Dangote Sugar paced % price drops with N1 or 4.56% decline. It had closed at N21.95 per share on Friday then settled at N20.95 today.

The change in par value bottom for equities pricing did not bite much but it did result in four price drops below par value. Royalex; Prestige Assurance, ABC Transport, and LASACO all lost N0.20 per share each to close below par at N48 per share.

Naturally, because price changes are now linked to dealing in at least 100,000 units, 50,000 units and 10,000 units in below N5; up to N99.9 and above N100 equities respectively, more price changes may only occur when adequate quantities were on hand or in demand.

Meanwhile, with Dangote Cement leading crowded Naira gains, the All share index recovered for the second trading day running after week 4 daily drop until Friday.

It rose by 1.22% to 44306.48 closer to above 45000 year high and still in search of 2008 all time high.

Trading, however, was relatively on the low side as number of deals dropped by 17.3% to 6756; traded volume declined by 39.6% to 583.3m shares and traded value came to N5.879bn, down 17.5%.

Top traded value was recorded in Zenith bank as 2nd ranked 582 deals involved 32.83m shares worth N1.02bn but the only offload in a class of its own today was leading 169.11m shares exchanged in FCMB for N547.03m.

Top number of deals was in FBN Holdings as 22.48m shares were sold in 632 deals worth N320.95m.

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