DEC 5, 2018: MUSCLE FLEXING AT NIGERIAN STOCK EXCHANGE

On Wednesday December 5 2018 there was muscle flexing between Dangote Cement and Seplat Petroleum and, not unexpected, DangCem won.

Both equities are top weighted in the All share index basket and so command great impact when they record price changes.

On Wednesday, there were 19 price gains and DangCem paced them with N5 of 2.70% per share gain while witnessing 90 deals for 1.459m shares worth N270.756m. 

It was an easy shift for DangCem because it simply found and closed at N190 per share compared to N185 on Tuesday. And, DangCem was more or less as prime source of pressure on the ASI upwards because no other gain was up to N1 per share.

On the other hand there were 18 price drops, 3 above N1 per share range and led by Seplat with double digit N15.1 or 2.46% per share decline as 8 deals were struck involving 0.018m shares worth N11.216m.

It was easy too for Seplat to head down because it also simply closed at N598.9 per share compared to N614 previously.

Other major price drops were Cement Company of Northern Nigeria's N1.75 or 9.72% per share in 48 deals for 0.957m shares worth N15.891m and International Breweries' N1.3 or 4.23% decline per share while recording 10 deals for 0.111m shares valued at N3.237m.

But alas, the ASI closed upwards, not downwards, by 0.47% to 31,151.68 thus recording uplift for the second trading day after Monday's decline.

Trading activities picked up somewhat though albeit marginally all round.There were 2845 deals involving 198.637m shares worth N2.309bn compared to 2802 deals for 198.535m shares valued at N2.115bn.

Top of the bill all round was 516 deals struck for 90.358m shares valued at N689.816m in FBN Holdings while closing N0.1 per share up.

GTB also gathered good investor interest as 2nd ranked 265 deals were sealed for 7.592m units worth N268.050m but Sterling Bank apparently recorded its usual investors scramble as 203 deals were struck while only 1.692m share were sold for N2.868m.

Comments

Post a Comment

Popular posts from this blog

DEC 20, 2018: UP, DOWN? CHECK ! AT NIGERIAN STOCK EXCHANGE

With one day more to end of the trading week, the All Share Index at the Nigerian Stock Exchange on Thursday confirmed a new up today, down tomorrow trend. The ASI closed at 30,802.90, up 0.32% after Wednesday's 0.35% decrease. Earlier, on December 13, the same trend was punctuated when the ASI closed 0.24% down instead of up. Since the trend resumed and got confirmed on Thursday as it rose by 0.32% on the back of 17 gains and 22 price drops. Seplat Petroleum jumped by N37.8 or 6.81% per share to lead the gainers as found and closed at N593 per share compared to N555.2 previously. It however recorded only 6 deals for 0.146m shares worth N87.106m. Also very much part of the critical pressure on ASI upwards, was N5 of 2.15% per share gain by Dangote Cement while witnessing 98 deals for 2.042m shares valued at N380.390m The rest gains were below N1 per share in contrast to price drops where 3 were above this borderline. Nestle Nigeria set the pace with N10 or 0.68% drop again, as it s...
Read more

UNITY BANK: WHEN SMALL IS BEAUTIFUL.

If there any time in Nigerian finance, it pays to be relatively small, the time is now and Unity Bank PLC is one of the banks that prove this in turbulent 2016. For Unity Bank the knocks of different policy somersault  since 2015 has been taking its pound of flesh but being rather small comparatively, one good news was enough to keep hope alive. So,  in the first half to June, gross earnings decreased significantly and many costs grudgingly followed from a distance but Unity Bank PLC still ended with profit, not loss. Gross earnings for the period had dropped by 35.1% to N21775.8m as interest income dived by 42.3% to N13477.4m; and fee and commission slumped by 82.7% to N804.2m. Stoking the fire some more was 32.7% drop in interest expense, well behind interest income decrease; 95.5% dive in paper income due to forex revaluation and less than proportionate decreases of 2.18% to N6942.2m and 24.4% to N5169.6m in personnel and other operating costs respectively. This recipe for...
Read more

ILLEGAL CAPITAL MARKET OPERATOR CONVICTED

Faraway from Lagos, Nigeria's commercial capital, the Federal High court Kaduna division, says Securities And Exchange Commission, in a landmark judgement on October 26 2016 convicted an illegal capital market operator to five years imprisonment. According to the SEC in a post on its website late last week, convicted was one Moses Samanja the managing director of an illegal and unregistered capital market operator, Marian Moses Ventures Ltd. He and the company were found guilty of soliciting and collecting deposits from the public with promises of "unrealistic return" on investment without SEC registration or license issued by the Central Bank of Nigeria. The court also directed the Corporate Affairs Commission to wind up the company and any funds in its accounts be used to restitute its clients. "Consequent upon the above" declared SEC, "this is to advise the investing public to always demand for SEC registration or CBN license before making deposit or sub...
Read more