MAY 11, 2018: NO DROPS ABOVE N1 AT NIGERIAN SE

Today, May 11, 2018 the Nigerian Stock Market closed with 23 price drops that were all below N1 per share while out of the 28 price gains, five were solidly above this mark.

Yet the All share index closed up by only 0.26% to 41,022.31 although this rise applied brakes on daily decline for three trading days.

The five main price gainers were Seplat Petroleum (up N25 or 3.45% per share); Nestlé Nigeria with N10 or 0.54% gain per share; Okomu Oil & Palm up N4.95 or 5.82% per share; Presco (up N3.6 or 5% per share) and Cement Company of Northern Nigeria with N1.95 or 7.21% gain per share.

The leading gainer, Seplat, simply found and closed at N750 per share compared to N725 per share the previous day. This was as it recorded 25 deals for 0.406m shared worth N304.65m.

Indeed, of the five only Okomu oil recorded the above N1 gains while witnessing deals for above 1m shares. It closed with 53 deals for 4.67m shares worth N38.18m.

On the other hand, lead decline was by La Farge Africa as it went down by N0.9 or 2.14% per share while witnessing 62 deals for 2.047m shares valued at N85.75m.

La  Farge had hit day high at N42 per share with which it closed the previous day but slipped to end the day at N41.1 per share.

Apart from La Farge, the top five drops included Nigerian Breweries, down N0.8 or 0.64% per share, UACN and Total Nigeria with N0.4 per share drop each and Guaranty Trust Bank which eased by N0.25 or 0.54% per share.

Of these five, GTB ended with day high traded volume of 25.93m shares in 151 deals worth leading N1.153bn.

In both traded volume and value, GTB was trailed by Zenith Bank, up N0.95 per share, as it recorded day high 290 deals for 22.16m shares worth N629.33m.

In all there were 3675 deals for 214.58m shares valued at N4.234bn.