JAN 30, 2018: DOUBLE DIGIT GAIN CLUSTER AT NIGERIAN SE

At the Nigerian stock market today,Tuesday, January 30 2018, a cluster of 4 double digit % gainers led 34 gainers to drive the All share index up a third consecutive day but at a lower 0.42% to 44,493.79.

Yesterday, it had recovered by 1.22% after Friday's 0.56% increase to apply the brakes on previous 4-day run downwards that made it look like the market was trending down at last after booming since late year.

Diamond Bank, up N0.29 per share clustered 10% gain with Honey Well Flour, up N0.28 per share; Skye bank up N0.14 per share and Sterling bank with N0.20 per share gain.

Incidentally, all of them except Sterling bank recorded top five volume trade for the day. 

Diamond bank recorded offload of 2nd highest 99.86m shares in 401 deals worth N318.38m; Skye bank chipped 3rd ranked 93.6m shares in 463 deals worth N141.45m and Honey Well Flour mills which also released last figures today, witnessed exchange of 4th placed 87.17m shares in 492 deals worth N260.88m 

The leading traded volume was recorded in Transcorp with 2nd ranked 693 deals for 160.989m units worth N393.73m while 5th ranked was FCMB's 423 deals for 74.04m shares worth N240.83m.

Sterling bank, the lone exception double digit gainer, had 36.47m shares exchanged in 211 deals worth N79.76m.

However, Naira gain was paced by Guinness Nigeria  up N3 per share or 2.73% as one of the two above N100 equities with gain. The other was Dangote Cement which closed 0.75% or N2 per share up to place 3rd after Beta Glass' N2.95 or 4.95% gain per share.

Of the 34 gainers 10 were banks or groups with banks as flagship subsidiary and 8 traded between N5 and N99.9 per share.

There were 24 price drops and most of them below N1 per share except leading drops by Nestlé Nigeria, down N30 or 2% per share and Seplat Petroleum down N7.60 or 1.10%.

Trading indicators also recovered strongly with number of deals closing at 8780 compared to 6756 yesterday; traded volume coming to 876.97m shares as against 573.34m previously and traded value standing at N7.43bn compared to N5.879bn previously.

Nigerian Breweries had solo above N1bn traded value as 11.55m shares changed hands in 133 deals worth N1.73bn.

Number of deals was paced by FBN Holdings with 709 deals for 41.19m shares worth N577.29m.

New pricing method seem to have more impact at the ETF segment with two: Siamlet ETF and Stanbic ETF closing up N37.09 and N25.46 up respectively while two other lesser priced funds settled for less than N1 gains.

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