MAY 23, 2018: 33.7% WITHOUT DEALS AT NIGERIAN STOCK MARKET

The Nigerian Stock Exchange closed Wednesday May 23, 2018 with 57 or 33.7% of the 169 quoted companies recording no deals and the All share index down 5th consecutive day.

A total of 15 more equities recorded simple crossed deals involving just one interested buyer thus upping relatively inactive equities to 42.6%, that is no deal plus crossed deal equities.

Most of the crossed deals were for rock bottom volume led though by 20,000 units crossed in Standard Insurance Plc.

The All share index closed down 0.25% to 40,150.55. Although this represents eased rate when compared to Tuesday's decline, it represented 4th consecutive day of decline.

On May 18, it dropped by 0.18% then slipped some more by 0.12% on Monday May 21,before going down further by 0.38% on May 22, 2018.

This time around heavyweight equities were more or less out of the picture. There were 28 price drops and only 15 gains and so the continued slide stemmed more from majority of drops.

Leading the price losers was UACN which closed down by N1.35 or 8.52% as 69 deals were struck for 1.61m shares valued at N23.35m.

UACN closed May 21 at N15.85 per share, opened the day at N15.1 then slipped to N14.8, and further to day low of N14.35 before closing slightly up at N14.5 per share.

Only CAP PLC was the other equity down by above N1 per share. It lost N1.15 per share or 2.88% as 9 deals were sealed for 0.10m shares worth N3.96m.

On the other hand only one company gained by above N1 per share: MRS Oil.

MRS closed up by N1.45 per share as it found and closed at N31.2 compared to N29.75 per share previously.

It ended with 14 deals for 0.128m of its shares worth N4.017m.

In terms of gains, Ikeja Hotel PLC, trailed with N0.2 or 9.80% per share gain. Ikeja Hotel trading suspension was lifted recently by the Exchange and it ended up leading traded volume on May 22.

This time around, it paced market volume again as 45.83m of its shares were offloaded in 31 deals worth N102.65m.

Nestlé Nigeria, without a change in price, however recorded top traded value of N2.161bn from 46 deals involving 1.35m shares. 

Zenith Bank paced number of deals with 354 deals for 20.08m shares worth N560.04m followed by FBN Holdings with 329 deals for 8.846m shares worth N91.9m.

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