JAN 30, 2019: NIGERIA: SCRAMBLE FOR STERLING BANK BACK.

On Tuesday, when 30.150m shares of Sterling Bank, up N0.06 per share, was traded at the Nigerian Stock Market for N66.156m, only 165 deals were recorded thus hinting as easing of almost traditional investors interest in the equity.

The following day, Wednesday January 30 2019, this proved to be hasty deduction. Sterling Bank, up N0.05 per share, recorded exchange of 32.297m shares for N75.546m involving, wait for it, 988 deals.

This was the day's market pace setter in terms of deals struck by a very long distance as Access Bank trailed with 300 deals for 36.186m shares worth N218.053m while going down N0.05 per share 

The Sterling Bank top number of deals helped push total deals struck for the day to 4018 compared to 3773 deals on Tuesday and just a little short of Monday's celebrated 4150 deals.

In all on Wednesday 249.537m shares were traded for N3.122bn  as against 359.511m shares worth N1.912bn the previous day.

Lead volume and traded value was in Zenith Bank, up N0.05 per share, as 56.367m of its shares were traded in 270 deals worth N1.296bn.

Offload in Diamond Bank was still amongst top 5 by traded volume as it closed with 98 deals for 20.193m shares valued at N46.498m while topping up with N0.01 per share.

Once again, the All share index eased losing 0.11% to 31,145.34 from 31.378.71 on Tuesday.

Which way the ASI was more or less a tussle between Seplat Petroleum and Nestlé Nigeria which Nestlé won while pacing 19 price drops and 23 gains.

Nestlé found and closed at N1440 per share compared to N1450 on Tuesday, down N10 or 0.69% per share. Of course, Nestlé is the top priced equity in the market.

Giving Nestlé a helping hand was Guinness Nigeria's N6 of 8.45% per share decline as 49 deals were struck for 0.224m shares worth N14.589m.

On the other hand, Seplat Petroleum led price gains with N15 or 2.88% per share rise which resulted from continuous rally from Tuesday's N520 per share, to day low of N525 before closing at N535 per share. This was as 15 deals were sealed for 0.123m shares worth N65.302m.

Seplat was trailed by Beta Glass up N4.35 or 7.82% per share accompanied by 6 deals for 0.101m shares worth N6.114m.

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