FEB 11, 2019: NIGERIA: MUCH ADO ON LOW INTEREST

On Monday, February 11 2019, there was relatively active price making at the Nigerian Stock Exchange but as it turned, top price changes revolved around equities with low investor interest.

There was one exception that more or less confirmed the rule: Dangote Cement in which 119 deals for 4.020m shares worth N744.231m were sealed while closing down 4th ranked by N0.5 or 0.27% per share.

Every other equity in top 5 price gain and loss recorded less than 50 deals, the lowest being Medview Airlines 5th ranked by price drop, down N0.15 or 8.11% per share in just 2 deals involving 2.545m shares worth N4.326m.

The All share index closed up by 0.80% to 31,781.87 as more bullish outlook resulted in 41 price gains and only 10 drops.

The gainers were led by Beta Glass up N6.3 or 0.55% per share while recording only 33 deals for 0.382m shares worth N25.7m.

It was trailed by Seplat Petroleum with N5 or 0.89% per share again while closing with only 30 deals for 0.237m shares worth N133.3m and Unilever Nigeria up N2 or 5.41% per share in same 30 deals for 0.129m shares valued at N5.018m.

The other 2 equities on the top 5 by price gain closed up N1 per share each. Cadbury Nigeria did while recording 24 deals for 0.207m shares worth N2.282m while Stanbic IBTC posted 19 deals for 0.204m shares valued at N9.597m.

Total Nigeria set the pace for price losers with N15.9 or 7.20% per share decline in just 17 deals for 0.22m shares valued at N4.714m.

It was followed by International Breweries down N1 or 3.33% per share in 10 deals for 4.835m shares worth N2.578m and  C & I Leasing down N0.9 or 9.96%  in just 11 deals for 0.145m shares worth N1.182m.

Much ado about low interest equities did not affect overall interest though.A total of 5229 deals were recorded for 551.585m shares valued at N5.649bn compared to slightly higher 5752 deals struck for 723.796m shares worth high mark N12.209bn on Friday.

Of course, the Friday rain of billion Naira deals was hard to replicate but not for lack of trying on Monday. Two billion range traded values were recorded.

Zenith Bank, up N0.55 per share, showcased day high 554 deals for 46.510m shares worth leading N1.152bn and Guaranty Trust Bank, up N0.2 per share closed with 3rd ranked 429 deals involving 29.407m shares valued at N1.146bn.

The day's top volume though was Access Bank's 101.620m shares offloaded in 326 deals worth N700.185m while topping up N0.35 per share.

Other major offloads were 69.912m shares of United Bank For Africa traded in 2nd ranked 463 deals worth N547.134m while closing up too N0.35 per share and Diamond Bank's 52.607m shares exchanged in 235 deals valued at N125.718m while adding N0.05 per share.

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