JAN 9 2018: OFFLOAD CONTINUES; NESTLÉ DOWN AT NIGERIAN SE.

For the third day running, major offload in Transcorp, Diamond bank and some other banks continued but top blue chip, Nestle Nigeria, price per share crashed by N50.

In view of the continued offload, traded volume recovered by 27.5% to 770.88m shares thus even closing ahead of Friday's 753.3m shares.

This time though, Transcorp PLC did not blaze the trail; Diamond bank paced traded volume with 5th ranked 476 deals for 219.65m shares worth also 5th placed N441.24m.

Transcorp this time recorded 7th ranked 335 deals for 139.92m shares offload worth N254.91m.

FCMB too recorded 3rd day run of large parcel deals. It witnessed 4th ranked 495 deals for 74.62m shares worth N154.71m.

Other major offloads occurred in Zenith bank; Access bank; Fidelity bank, UBA, and FBN Holdings all witnessing deals for above 20m shares each.

Zenith bank paced number of deals with 587 deals for 4th ranked 41.9m shares worth day high N1.23bn. It had gained N1.39 per share in the process.

Nestle Nigeria closed Friday at N1500; opened the day at N1425.11 per share then hit day high of N1499.99 before closing at N1450 per share.

It thus eased well ahead of 6 other price drops for the day led in terms of % drop by UAC Property down 4.72% or just N0.15 per share.

UAC property opened at N3.05 per share after closing Monday at N3.18 then closed at day low of N3.03 per share.

It was once again the bulls day as 41 price gains were recorded including another top up by N3.24 or 1.38% per share by Dangote Cement after yesterday's muscle flexing that shoved the All share index upwards.

This time the ASI rose by 1.16% but less dramatically on Dangote Cement's back as 2.21% rise in premium index to 2721.99 had more input from Zenith's N1.39 per share gain and FBN Holdings' N0.47 per share top.

Top Naira gain was by Seplat Petroleum, up N10 or 1.54% per share as it recorded only 5 deals worth N52.15m.

It was an easy matter too because it simply opened and firmed through the day at N660 per share after closing at N650 yesterday.

However, % gain was led by Dangote Flour up 10% or N1.47 per share. It also witnessed 8th ranked 326 deals for 7.99m shares worth N127.5m.