MAR 9, 2018: ACCESS BANK OFFLOAD AT NIGERIAN STOCK EXCHANGE

Offload in Access Bank today, Friday March 9, 2018 put smiles on investors faces as week 9 drew to a close at the Nigerian stock exchange.

In all, 181 deals were recorded in Access bank for leading N1.19bn shares valued at day high N15.48bn.

Thus, the bank accounted for 78.4% of the day's traded value and 77.7% of traded volume. It was also the first time since this year  that above 1bn shares will change hands in a day.

Indeed, all through February the highest traded volume was 1.87bn witnessed by Sterling bank followed by two other equities with above 1bn 

On November 17 2018 Sovereign Trust Insurance recorded deals for 1.58bn shares worth N790m to pace volume since then while Dangote Cement on the same day witnessed 186 deals for 131.27m shares worth record N27.63bn.

Today's trade in Access bank comes to 4.12% of its 28.9bn issued capital and the bank ended the day up by N0.05 per share as it opened at N12.85, hit day low of N12.8 then rallied to close at N13 per share.

In the end, traded value for the day came to N19.7bn due mainly to the Access bank trade and also as Guaranty Trust bank chipped in N1.39bn from 186 deals for 29.05m shares.

On the other hand traded volume stood at 1.53bn shares and Access bank lead was followed from quite a distance by Regal Insurance as it witnessed 101 deals for 43.3m shares worth N15.26m.

In all there were 32 price gains and 27 drops. The gainers were led by Nestlé Nigeria up N6 per share as it closed at N1381 per share after closing yesterday at N1375 and opening the day at N1380 per share.

It was followed by the duo of Nigerian Breweries and Dangote Cement with N3 per share rise each.

The price drops were however, led by Unilever Nigeria down N2.4 per share  as it witnessed 44 deals for 2.22m shares worth N138.49m.

Once again, FBN Holdings retained top spot in terms of number of deals with 416 deals involving 13.16m shares worth N155.87m.


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