OCT 20, 2018: NICE TO BE MIGHTY AT NIGERIAN STOCK EXCHANGE

At the Nigerian Stock Exchange last week ended Friday October 19, 2018 was one top weighted equities dictated virtually every pace except for traded volume.

 The All share index closed the week at 32,841.69, up 384.71 points or 1.19% but not because price changes were mostly positive. Infact, the opposite was the case because by Friday, 42 price drops through the week had been recorded against just 18 gains.

The big deal was that top weighted Dangote Cement closed exceptionally up by N10 per share after going and down through the week closing Friday itself up N4 or 1.94% per share to pace price gains.

Every other price gain by week's close turned out to be below N1 per share with Zenith Bank leading with N0.70 per share.

On the contrary, all top 5 price drops were above N2 per share. Nestle Nigeria tumbled N30 or 2.14% per share on Friday to lead all week drops followed by Seplat Petroleum down N15 per share; Beta Glass with N7.80 per share, and the duo of CAP Plc and Julius Berger down N2.95 and 2.35 per share respectively.

The ASI had gone up and down along with the swing in Dangote Cement and others up Wednesday then it rose for the next 2 days to finally scale previous week's closing level.

It was traded volume that did not flow with might even though it grew by a hefty 50.75% to 1,380.464m shares compared to 915.753m shares previously.

Sun Assurance took the lead here on Tuesday when it recorded offload of 500.116m shares in 15 deals bringing its total traded volume for the week to 503.146m shares.

That left  Zenith Bank, trailing with 154.368m shares followed by Guaranty Trust Bank (115.386m), United Bank For Africa (101.205m shares) and Hallmark Insurance which recorded 4 deals for leading 91.217m shares on Friday to close the week with 92.264m shares traded volume.

But traded value rose by even higher 54.1% to N15.147bn from previous week's N9.832bn more because deals in the mighty made a difference.

GTB paced the week's  top 5 traded value with N4.24bn followed by Zenith with N3.499bn; Seplat Petroleum (N2.326bn); Dangote Cement with N1.073bn and UBA (N826.366m).

However, because the less mighty dominated traded volume, number of deals dropped by 3.81% to 13,498 from previous 14,033 and top 5 turned out to be all bank or bank dominated affair.

Lead full week number of deals was Zenith's 1206; followed by FBN Holdings with 858; GTB (815); UBA (663) and Fidelity Bank in which 610 deals for 63.963m shares worth N120.229m were struck.

ALL SHARE INDEX

Friday. 19/10/2018:      32,841.69
Thursday.                        32,664.63
Wednesday.                    32,437.35
Tuesday.                          32,722.
Monday.                           32,413.48
Friday  12/10/2018.       32,456.98

TRADED VOLUME m

Friday 19/10/2018.         212.649
Thursday.                          173.625
Wednesday.                      240.764
Tuesday.                           662.021
Monday.                              91.405

TRADED VALUE. Nbn

Friday  19/10/2018      1.456
Thursday.                       3.760
Wednesday.                   3.659
Tuesday.                         5.312
Monday                           0.960

DEALS

Friday 19/10/2018.   2385
Thursday.                    2585
Wednesday.                2974
Tuesday.                      3025
Monday                        2529


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