FEB 12, 2019: NIGERIA: FLURRY OF INVESTOR INTEREST

Investor interest in the Nigerian Stock Exchange has been on relatively high side in recent days with most trading days recording above 3000 deals.

On Tuesday February 12, 2019 new high was hit in this regard as 7052 deals were struck for 580.413m shares worth N8.032bn compared to 5229 deals for 551.585m shares valued at N5.649bn.

Zenith Bank paced number of deals with 754 deals sealed for 2nd highest 63.177m shares worth N1.584bn while closing up N0.05 per share.

It was followed not unexpectedly by Sterling Bank in which just 5.549m shares in 544 deals worth N13.831m and UBA with 426 deals involving 39.724m shares worth N319.564m while closing down N0.05 per share.

Top traded volume however, was 125.817m shares of Diamond Bank offloaded in 186 deals valued at N304.389m while closing firm in the main.

Equally remarkable on Tuesday was the surge of the All share index up by 2.14% to 32,462.31 from Monday's 31,781.87 as bullish perceptions led to 37 price gains and only 14 drops.

Nestlé Nigeria led all gains with N90 or 6% per share rise to close at N1590 per share after hitting day low of N1540.2 compared to N1500 per share on Monday.

Nestlé ended with 65 deals for 0.191m shares valued at N299.072m. This time a solo was out of the picture.

From a fair distance, Seplat Petroleum gained N34.50 or 6.10% per share while recording 22 deals for 0.131m shares worth N76.552m.

Dangote Cement also recorded N4.3 or 2.32% per share in 115 deals for 7.937m shares worth N1.468bn.

Two other equities made top 5 gains: 11 PLC closed up N4 or 2.22% per share in 8 deals involving 0.045m shared valued at N8.276m and Nigerian Breweries rose by N2.05 or 2.63% per share in 146 deals for 3.634m shares worth N290.980m.

Okomu Oil & Palm paced price drops with N2.8 or 3.25% per share decline as it found and closed at N82.2 per share from Monday's N85 per share. It ended with 18 deals for 0.131m shares worth N10.821m.

It was trailed by Cement Company of Northern Nigeria which went down N1.05 or 4.76% per share while 0.682m shares were exchanged in 44 deals worth N14.685m.

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