MAY 18, 2018: ALL SHARE INDEX DOWN 0.44% ONLY AT NIGERIAN SE.

Somehow, that the All Share Index at the Nigerian Stock Exchange closed only down by 0.44% on Friday May 18, 2018 could be quite a puzzle to unravel.

The stage was set for higher % drop. For one, there were 30 price drops compared to 20 gains.

For another margin of drops were more than that for gains and for a third, Dangote Cement, still the top weighted equity in the ASI valuation basket, went down as well.

Lead drop was by Total Nigeria, down N9.80 or 4.42% per share as it recorded 32 deals for 0.076m shares worth N16.71m 

Total had closed Thursday at N221.8 per share, opened the day at N220 then slipped further to close at N212 per share.

Close on its heels was fellow petroleum products company, 11 PLC which lost N7 or 3.72% per share as it opened at N181.2 per share, rounded downwards to close at N181 per share compared to N188 the previous day.

It recorded 46 deals for 0.042m shares worth N8.537m.

Dangote Cement, on its own part found and closed at N245 per share, down N3 or 1.71% on Thursday's N248 per share. This was as it witnessed 24 deals for 0.322m shares worth N79.08m.

Other magor price drops were Unilever Nigeria's  N2.35 or 4.49% decline per share as 0.40m of its shares changed hands for N20.13m and N2.1 or 8.05% per share drop by Cement Company of Northern Nigeria as 76 deals were struck for 0.525m shares worth N12.49m.

On the other end of the scale, only flyweight Beta Glass recorded gain above N1 per share hence the ASI timble look somehow mild.

It was simple for the company too as it found and closed at N87.35 per share compared to N83.2 the previous day ( up N4.15 or 4.99% per share) as 13 deals were struck for 0.075m units worth N6.52m.

Total traded value for the day was N5.07bn and more than half was accounted by N2.765bn traded value recorded as Guaranty Trust Bank witnessed 3rd ranked 226 deals for equally pace setting 62.85m shares.

In the course of this, GTB closed down N0.05 per share after hitting day high of N44.05 which was Thursday's close as well, then a low of N43.75 before closing at N44 per share.

On the other hand, top number of deals at 261 as 30.33m shares changed hands in Fidelity Bank for N65.70m with total number of deals struck for the day coming to 3973 for 350.549m shares.

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