MAR 14, 2018: ASI UP TODAY, DOWN NEXT AT NIGERIAN SE.

For the 5th day, today March 14, 2018 the All share index at the Nigerian Stock Exchange kept faith with its up today, down tomorrow trend with ).54% or 233.9 points decline to 42,839.52.

It had closed up last Friday at 43,167.86 compared to 43,090.55 on Thursday then dropped to 43,056.51 on Monday only to rise again to 43,073.51 yesterday.

Yesterday's rise was powered by leap in Nestle Nigeria and Dangote Cement among others but today, Nestlé lost all of the N20 per share it gained yesterday.

While recording 46 deals for 0.295m shares worth N404.92m, Nestle opened at N1365 per share then recovered slightly to close at N1380 per share but this was exactly its Monday price from which it led all gains yesterday.

Dangote Cement on the other hand closed marginally up by N0.4  per share as it posted just 28 deals for 0.041m shares worth N11.11m.

That means that Nestlé led 41 other price drops, all of them way behind Nestlé decline to depress the ASI.

Nestlé's Naira drop per share was trailed by Total Nigeria, down N3 or 1.2% per share while recording 27 deals worth N10m and Dangote Sugar which eased by N1.1 per share to witness 99 deals involving 5.137m shares worth N109m.

There were only 15 price gains which when compared to the 42 price drops seem to suggest bullish run of sorts but then, inspite of this, the ASI corresponding decline was marginal.

The gainers were not only fewer, but also closed up with less than N1 gain each. Leading gain was N0.9 or 0.69% per share by Nigerian Breweries as it paced the market with N2.43bn traded value from 155 deals for 18.77m shares.

In terms of % gains and drops, however, C & I Leasing led gainers with 7.78% or N0.14 per share while LASACO insurance closed down by 9.52% or N0.04 per share to pace losers.

Compared to yesterday, both traded volume and number of deals declined to 378.5m share and 5220 deals respectively but in contrast, traded value rose to N6.84bn from N6.11bn.

Traded value was boosted not only by the above N2bn from deals in Nestle but also by above N1bn each in Guaranty Trust Bank and Zenith Bank.

GTB rose insignificantly to record 2nd highest 560 deals for 24.64m shares worth N1.119bn while Zenith, down N0.55 per share, witnessed leading 724 deals for the 3rd day  for 36.34m shares worth N1.108bn.

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