MAY 21, 2018: AT NIGERIAN STOCK EXCHANGE TRADE DOWN BUT.....

Trading at the Nigerian Stock Exchange May 21, 2018 was down considerably but investors interest remained high.

Total traded volume came to 271.27m shares compared to last Friday's 350.54m shares while traded value declined by more than 50% to N2.3bn from N5.077bn but number of deals struck rose to 4052 from 3973.

It was a day of very cautious gains and drops with ultimately, the All Share Index easing by 0.12% to 40,425 thus continuing downward trend since Thursday.

Interestingly, the ASI decline was inspite of 26 price gains as against 22 drops  and what's more inspite of price change margins that were almost in the same range.

Top price gain was recorded by Forte Oil as it closed up N1.90 or 4.90% per share while 51 deals were sealed for 0.329m shares valued at N13.03m.

Forte Oil closed Friday at N38.75 per share, opened May 21 at N39 then closed at N40.65 per share. And it turned out to be the only equity with above N1 per share price change for the day.

In terms of gains, Nigerian Breweries and Unilever Nigeria trailed with N0.5 per share each. In the process, NB witnessed 77 deals for 0.35m shares worth N43.35m while Unilever settled for 31 deals involving 1.37m shares worth N69.42m.

On the other hand, top price drop was just N0.95 or 2.92% per share seen in Flour Mills as it recorded 51 deals for 0.279m shares valued at N9.51m.

It was a simple matter for Flour Mills as it found and closed at N34 per share compared to N34.95 previously.

Guaranty Trust Bank trailed Flour Mills with N0.5 or 1.14% drop while recording the day's 3rd highest number of deals (212) involving 15.15m shares valued at day high N664.22m.

Even as traded volume trended down by almost 50%, this was boosted all the same by 90m shares of Afrinsure offloaded in just 12 deals worth N18.69m.

In the course of the offload, Afrinsure gained N0.01 per share as it closed at N10.7 per share to which it slipped after a day high of N10.85 per share.

Top of the bill of number of deals struck was FBN Holdings as it witnessed 370 deals for 10.82m shares worth N117m. FBN holdings, however, lost N0.3 or 2.71% per share in the process.

Zenith Bank was the other equity (apart from FBN and GTB) with above 200 deals as it ended with 280 deals for 10.09m shares worth N282.78m while closing up N0.05 or 0.18% per share.

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