NOV 21, 2018: REVERSE AT NIGERIAN STOCK EXCHANGE

On Wednesday November 21, 2018 the Nigerian stock exchange closed on reversed gear kind of when compared to the previous trading day, Monday; Tuesday being a holiday.

On Monday, in historic fashion only 5 price drops were recorded amidst 26 lrucr gains leading to rally by the All share index by 0.51% to 32,222.24.

On Wednesday, the story was quite the opposite although not in a historic fashion. There were only 10 price gains and 22 drops thus pressing the ASI by 0.78% to 31,968.79.

There were 2 major price gainers. 11 plc (erstwhile Mobi oil) led with N15 or 10% rise as it found and closed at N165 per share compared to N150 previously while witnessing 32 deals for 0.036m shares worth N5.939m.

The other was Stanbic IBTC up N2 or 4.12% per share in 20 deals for 9.302m shares valued at N477.422m. Other gains were below N1 per share.

On the other hand, 4 equities went down N1 or above per share. Presco was the pace setter with N4.1 or 6.10% decline while recording just 10 deals involving 0.081m shares worth N5.083m.

Others in this league were Dangote Cement, down N3.5 or 1.72% as 0.953m of its shares were traded through 81 deals worth N190.941m; GTB which recorded day high N759.558m traded value and top 338 deals for 20.834m shares while shedding N1.1 per share and La  Farge Africa down N1 per share or 6.25% amidst 150 deals for 2.208m shares worth N33.737m.

All trading indicators closed positive with traded volume rising to 237.746m shares from 148.101m; traded value closing at N3.503bn from N1.796bn and number of deals at 3359, recording good improvement on Monday's 2853.

Top traded volume was Oando's 58.563m shares offloaded in 64 deals worth N298.646m while ending firm but of course, with top traded value and number of deals, GTB carried the day.

Close call was Zenith Bank, down N0.1 per share, with 286 deals for 2nd ranked 23.563m shares worth N577.592m.

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