OCT. 25, 2018: FCMB 322.948m SHARES OFFLOADED IN 2 DAYS

More like a reminder of the unexpected offload recorded at the Nairobi stock market earlier in the week, a total of 322.948m shares of FCMB Group was  offloaded on Wednesday and Thursday this week at the Nigerian Stock Exchange.

On Wednesday, FCMB recorded offload of 142.696m shares in day high 342 deals worth N222.123m while closing down N0.04 per share.

Come Thursday, October 25, another 180.252m of its shares were exchanged in lower 207 deals worth N279.646m.

Thus in 2 days trade worth N501.769m or 1.6% of FCMB's N31.288bn market capitalisation was recorded involving less than 2% of its issued capital.

Earlier on Monday and Tuesday, smaller parcels had also been traded. This was 15.5m on Monday and 27.551m shares on Tuesday bringing its total volume since the week to 365.948m shares.

The last deal recorded on Thursday was for 90,000 units at N1.58 per share and FCMB thus closed up N0.03 per share at the end of the day. This price is closer to its year low of N1.02 than its year high of N3.65 per share with closing price earnings ratio of 18.5 on Thursday.

Like for Wednesday, the Thursday offload pushed market volume to 348.455m shares, slightly lower than Wednesday's 380.965m shares.

Traded value was higher though at N3.668bn compared to N2.332bn on Wednesday mainly because trade in medium priced GTB and in Dangote Cement chipped in N869.875m and N939.628m respectively.

Dangote Cement, up N0.5 or 0.25% per share, recorded 84 deals for 4.695m shares while GTB witnessed 221 deals involving 3rd rated 23.832m shares.

Zenith Bank, down N0.2 or 0.83% per share, paced number of deals with 340 for 2nd ranked 24.497m shares worth N589.004m.

The All share index, on Thursday, rallied once again up but by 0.44% to 32,545.06 mainly as Total Nigeria supported by still rising Nestlé Nigeria led gains while less weighty Beta Glass and CAP plc paced price drops.

Total Nigeria found and closed at N198 per share, up N15 or 8.20% on Wednesday's N183 but while recording only 11 deals for 0.019m shares valued at N3.643m.

Nestlé Nigeria increased by N10 or 0.73% per share while closing the day with 33 deals for 0.335m worth N1.014m.

Nigerian Breweries too gained N4.4 or 4.99% per share as 1.558m shares were traded in 101 deals worth N143.085m.

In contrast, Beta Glass, down N6.9 or 10% per share as it closed at N62.1 per share recorded only 4 deals for 0.272m shares worth N16.903m.

The next major price drop was CAP plc's N1.45 or 4.83% per share while 0.124 m shares changed hands in 12 deals valued at N3.681m.


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