LAST WEEK: FOUR DAY WONDER AT NIGERIAN STOCK EXCHANGE

Last week ended November 23, 2018 business was done only in 4 days but it turned to be 4 days of wonder when compared to the 5 days of previous week.

Sure, the All share index closed 1.26% down at 31,678.70 but the wonder here is that in previous week's 5 days, the ASI ended down by only 0.44%.

However, the real wonder had to do with traded volume and value both of which took great leaps on Thursday when 605.542m shares of Zenith bank were offloaded in 176 deals worth N14.533bn.

This placed Zenith at the top of both traded volume and value within the week with 648.188m shares exchanged for N15.557bn in 2nd ranked 851 deals.

More importantly, it drove traded volume for the week to 1282.251m shares, just a shade short of the 1285.647m recorded in 5 day previous week.

What's more, it put traded value at N23.142bn for the 4 day week compared to only N11.530bn in the previous 5 day week.

The Zenith offload did not lead to any scramble as such so, number of deals struck for the week shrunk to 11,467 from 5day previous week's 13,245.

In volume terms, Zenith's lead was followed by Diamond Bank in which 138.105m shares were traded; Oando with 91.280m shares, GTB (43.592m shares) and UBA in which 34.565m shares were traded.

The bulk of the Diamond Bank 2nd place figure was recorded on Friday when 113.309m of its shares were offloaded in 60 deals worth N331.339m while closing up N0.07 per share.

On the traded value scale, GTB trailed Zenith with N1.589bn just barely ahead of Nigerian Breweries with N1.588bn traded value followed by Nestle with N566.094m and Stanbic IBTC (N506.098m).

GTB was ahead of Zenith with 984 deals while FBN Holdings placed 3rd with 849 deals followed by UBA (540 deals) and Sterling Bank with 440 deals involving comparatively far less shares exchanged.

That the ASI declined was not a factor of dominant number of price decline ( 22 within the week compared to 30 gains) but more of the fact that Dangote Cement closed down N8.50 per share to lead decline and as drops were dominated by low weighted equities.

DangCem shed N3.5 per share on Wednesday then top up on this on Friday with N5.0 per share decline.

Leading the price gainers was Nestlé Nigeria, the market's highest priced equity. It closed N20 per share up simply by holding on to the price shift it recorded on Monday.

Nestle was trailed by 11Plc up N15 per share and CAP Plc which stayed firm through the week until Friday when it paced gainers for the day with N2.6 per share or 9.77% price rise.

ALL SHARE INDEX

Friday 23/11/2018.    31,678.70
Thursday.                     31,984.60
Wednesday.                 31,969.79
Monday.                       ,32,222.24
Friday  16/11/2018.    32,058.28

TRADED VOLUME m

Friday 23/11/2018.       223.844
Thursday.                        672.560
Wednesday.                    237.746
Monday.                          148.101

TRADED VALUE Nbn

Friday 23/11/2018.       2627.619
Thursday.                      15215.516
Wednesday.                    3503.007
Monday                           1796.075

DEALS

Friday  23/11/2018.        2819
Thursday.                         2436
Wednesday.                     3359
Monday                            3853

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