NOV 22, 2018: ZENITH OFFLOAD AT NIGERIAN STOCK EXCHANGE

At the Nigerian Stock Exchange on Thursday, November 22, as the All share index continued with its up and down movement, an offload of 605.542m shares of Zenith Bank was recorded.

The offload virtually made the day in terms of traded volume and v

alue although the number of deals sealed waa short of day high.

The offload was snapped up in 176 deals worth day high N14.533bn. It represented 90% of the total traded volume for the day (672.560m shares) and 95.5% of the N15.215bn traded value clocked.

In the process Zenith closed 5th highest Naira gain with N0.15 or 0.63% per share hitting day high of N24.25 per share, low of N24 before closing at N24.15 per share compared to N24 on Wednesday.

It was not a day of fantastic price discovery as 15 price gains and 13 drops were recorded, with only one each way changing by above N1 per share.

The lone ranger amongst the gainers was Flour Mills up N1.85 or 9.85% per share. It had closed Wednesday at N18.6 per share then hit day low of N19.95 before closing at N20.45 per share.

Flour Mills ended the day with 57 deals involving 1.005m shares valued at N20.02m. 

PZ Cussons had trailed Flour Mills with N0.7 or 7.78% per share gain while recording 27 deals for 0.270m shares worth N2.653m.

The 13 price losers were paced by Nigerian Breweries down N1 or 1.18% per share as it found and closed at N84 per share compared to N85 previously.

This was accompanied with 70 deals involving 2.313m shares worth N196.567m.

Julius Berger was next amongst top 5 price drops. It shed N0.85 or 3.98% per share as 12 deals were struck through which 0.269m shares valued at N5.627m.

Lead number of deals was witnessed by GTB  with 187 sealed for 3.928m shares worth N140.727m.

The All share index, closed at 31,984.60, up 0.05% on Wednesday's 31,969.79. This Thursday fell in line with down today and up tomorrow trend observed in the ASI since last week.


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