JAN 17, 2019: DIAMOND BANK STILL PACES VOLUME

The pace of traded volume  at the Nigerian  Stock  Exchange  is still being set by shareholders  of Diamond  Bank who apparently  do not want to be part of merger in the offing with Access Bank. 

On Tuesday,  offload of Diamond  Bank led volume  with 100.673m shares sold then on Wednesday,  it paced again  with 141.231m shares. 

On Thursday,  it led again with 59.564m shares traded in 95 deals valued  at N125.133m. However,  this time Diamond  Bank closed firm. 


This Diamond  Bank lead was followed  by Guaranty  Trust Bank which came up with lead traded value for the day.  GTB,  down N0.2 per share amongst top 5 price losers,  recorded 256 deals for 145.587m shares worth N1480.306m.

In the end,  3207 deals were struck involving  231.014m shares worth  N3.266bn compared to 3642 deals on Wednesday  for 305.808m shares valued  at N2 102bn. 

The higher traded an value in spite of lower volume  could be attributed  to the above N1bn recorded by GTB with good assistance from Nigerian Breweries  with N465.373m worth traded and Zenith Bank which actually led number of deals with 404 deals for 19.831m shares worth  N427.571m.

The All share index continued  to recover  closing at 30,583.21 up 0.40%. This growth though was far lower than the 1.07% increase the previous  day. 

There 21 price gains  and 13 drops. The gainers,  this time,  were paced by 11 Plc  as it found  and closed at N188 per share compared to  N184 previously. 

It this gained N4 or 2.17% per share while  witnessing  just 7 deals for 0.153m shares worth  N28.745m.

On its trail was Dangote cement  up N2 or 1.06% per share  in 113 deals for 1.124m shares worth  N208.980m and Cement Company  of Northern  Nigeria with N1 or 4.55% gain per share amidst  33 deals struck  for 0.569m shares valued at  N12.671m.

On the other hand,  no equity declined by up to N1 per share.  The lead drop was NASCON Industries  N0.6 or 3.23% per share  as it closed at N18 per share  after hitting  day high of N18.1 compared to N18.6 per share  previously. 

NASCON  witnessed  33 deals that led to the exchange  of 0 346m shares for N6.226m.

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