NOV 28, 2018: 4TH DAY DOWN AT NIGERIAN STOCK EXCHANGE

For the 4th running, the Nigerian Stock Exchange closed down on Wednesday November 28 raising spectre of a plummeting week.

The All share index closed 0.48% down at 31,023.47 after closing down 1.14% on Tuesday; 0.46% on Monday and 0.96% on Friday.

Yes decline was a relatively crowded pack but the core of the matter was that DangCem did a solo by pacing decline by N3 or 1.56% per share decrease.

It was a solo because no other price drop was above N1 per share and Stanbic IBTC's N1.05 or 2.15% per share gain to lead gainers was just barely across the N1 per share bar.

For both equities, discovering closing prices was easy. DangCem simply slipped to close at N190 per share from N193 previously while Stanbic found and closed at N50 per share as against N48.95 on Tuesday.

In terms of volume traded while these price discoveries were made, they were close, but poles apart in terms investors interest aka numbers of deals struck.

DangCem recorded 63 deals for 0.205m shares worth N39.159m while Stanbic IBTC witnessed only 19 deals for slightly higher 0.261m shares worth N12.938m.

Even though number of deals at 3252 was higher and traded volume at 220.396m shares was also an imprisonment on Tuesday's 182.228m, traded value declined to N2.726bn from N2.754bn.

Access Bank recorded top volume with 54.167m shares offloaded in 122 deals valued at N385.412m while closing down N0.1 per share.

Leading traded value was however. Nigerian Breweries N848.329m realised by investors who traded 10.693m shares in 161 deals while shedding N0.4 or 0.5% per share.

Top number of deals was FBN Holdings 255 deals sealed for 9.725m units valued at N70.601m as it declined by N0.25 or 3.40% per share.

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