JAN 22, 2019: NIGERIA: SEPLAT LEADS RALLY

After pacing the Nigerian Stock Market down on Monday with a leading price decline, Seplat Petroleum on Tuesday January 22, reversed to lead a rally that saw the All share index marginally up 0.01% to 30,736.88.

It was more or less a solo run for Seplat as it was the only equity with above N1 per share gain at the end of the day. It rose by N10 or 1.89% per share to close at N540 per share.

It was a case of continuous rise from Monday's N530 to N535 per share before the day high close as 60 deals were struck for b0.359m shares worth N193.750m.

Next to it on the gainers chart in Naira terms was Redstar Express and Guaranty Trust Bank N0.4 per share top up each. For Redstar, the gain was 9.09% and occurred as 11 deals were sealed for 0.255m shares valued at N1.220m.

On the other hand, for GTB it amounted to only 1.26% growth while 26.567m of its shares were exchanged in 226 deals worth day high N847.788m.

In contrast, there 3 N1 and above price drops led by Presco down N2 or 3.23% per share in 8 deals for 0.401m shares worth N24.081m.

Cement Company of Northern Nigeria also closed up but by N1.9 or 7.06% per share as 1.595m of its shares were traded in 52 deals worth N42.521m.

Lastly, Nigerian Breweries closed N1 or 1.23% up in the wake of 99 deals involving 0.771m shares valued at N61.745m.

Trading activities were lower compared to Monday although Diamond Bank, for the upteenth time, led traded volume again with yet another offload.

In all, 3320 deals were struck for 245.987m shares valued at N2.443bn as against 3874 deals involving 499.211m shares worth N5.531bn on Monday.

Diamond Bank barely closed firm this time around while witnessing leading 71.584m shares offloaded in 93 deals worth N149.049m.

Zenith Bank paced number of deals with 355 which involved exchange of 10.894m shares for N235.764m.

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