MAY 22, 2018: RARE LEAD IKEJA HOTEL TRADE AT NIGERIAN SE.

At the Nigerian Stock Exchange Tuesday, May 22, 2018, Ikeja Hotel Plc recorded very rare trading activity that ended leading traded volume for the day.

It witnessed 19 deals for day high 34.55m shares worth N70.48m as it closed N0.18 per share up.

By May 18, 2018 the last deal recorded in the company was 10,000 units sold at N1.80 per share on November 9, 2016.

In the course of the day's leading traded volume Ikeja Hotel hit day high of N2.04 and closed there after opening the day at N1.95 compared to N1.86 per share on Monday, May 21, 2018.

By May 18, though it last went ex-dividend in 2008 and ex-scrip in 2009 and posted price earnings ratio of 11.47.

It was a somewhat bearish day though with 33 price drops as against 19 gains leading to 4th day down for the All share index by 0.38% to 40,272.76.

The pressure downwards was paced by 11 Plc with N8.50 per share decline as 0.22m of its shares changed hands  in 68 deals worth N38.8m.

Heading down was with some struggle for 11 PLC as opened at N174.8 per share , slipped further to N172 per share low before closing at N172.5 compared to N181 per share on Monday.

The next major decline was recorded by Dangote Cement, down N1 per share as 43 deals were struck for 0.188m shares worth N45.98m.

Dangote Cement had closed Monday May 21 at N245 per share, opened at N243 then recovered slightly to close at N244 per share.

On the other hand, lead gain was by Okomu Oil and Palm, up N3.9 per share in 16 deals for 0.093m shares valued at N5.57m. Gaining was rather easy for Okomu as it simply found and closed at N82.3 per share compared to N78.4 previously.

None of these paced deals for the day though, that honour went to FBN Holdings as it recorded 403 deals for 17.72m shares worth N189.73m followed by Zenith Bank with 301 deals for 26.46m shares worth N740.88m.

Top traded value though was recorded as Nigerian Breweries, down N0.7 per share, witnessed 143 deals involving 11.52m shares worth N1.46bn.

Like for Ikeja Hotel, Fidson Healthcare recorded rare trade 32.43m shares which turned to be 2nd highest. They were sold in 81 deals worth N80.2m as it closed down N0.02 per share.

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