JAN 18, 2019: NIGERIA: NESTLE, DANGCEM FLEX MUSCLES

The All share index at the Nigerian  Stock  Exchange closed up rather strongly on Friday January  18, 2019 on the back of strong  gains by Nestle Nigeria  and,  to a lesser extent,  Dangote Cement amidst predominantly  low margin price drops. 

The ASI finally crossed  back in 31 range at 31,005.17, up 1.38%  thus confirming the daily increase in recent days. 

Nestle led gainers  with N48.9 or 4.9% leap as it found  and closed at N1450 per share as against N1401.1 on Thursday.  This was while recording  36 deals for 0.106m of its shares worth N154.561m.

Other major  price  gains  were N4.9 or 2.58% per share  by DangCem as it witnessed  54 deals for  0 478m shares worth N91.497m,  N2.25 or 2.86% per share  rise by Nigerian Breweries amidst 70 deals covering 0.372m shares valued at N29.385m and Cement  Company Of  Northern  Nigeria's N2.1 or 9.13% per share  increase while recording  exchange  of 0.276m shares in 39 deals for N6,842m.

The lone major price drop was N5.3 or  8.79% per share  by Beta Glass as it found and closed at N55 as against  N60.3 per share  previously. It ended the day with just 10 deals for 0.190m shares valued at Ksh N10.659m.

All other drops were below  N1 per share  paced by Berger Paints  down N0.85 or 9.88% per share accompanied  with 9 deals for 0.224m shares worth  N1.741m.

Daily leading offload in Diamond  Bank continued  on Friday as 72.177m of its shares  were traded in 120 deals worth N151.913m while  closing  N0.01 per share  down. 

Thus the day closed with 3317 deals sealed for 300.803m shares worth  N3.764bn compared to 3207 deals for 231.014m shares valued at  N3.266bn on Thursday. 

Two  equities recorded above N1bn traded value :Guaranty  Trust Bank  and Zenith  Bank. GTB,  down N.0.45 or 1.39% per share,  witnessed  363 deals for 46.258 shares worth  leading  N1.488bn.

On the other hand,  Zenith paced number of deals with 374 deals involving  49.699m shares valued  at N1.063bn while  shedding N0.2 or 0.95% per share. 


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