FEB 13, 2019: NIGERIA: DOWN AT LAST

After closing up daily since this month, the Nigerian Stock Exchange closed down finally on Wednesday February 13, 2019.

The All share index closed at 32,413.92, down 0.15% from Tuesday's 32,462.31 as 22 price drops and 19 gains were recorded.

The  decline that applied the most pressure apparently was Seplat Petroleum's 20 or 3.33% per share drop to N580 per share from Tuesday's N600.

Incidentally, Seplat Petroleum was the 2nd highest price gainer on Tuesday with N34.5 per share leap behind Nestlé Nigeria's N90 per share.

This time, Seplat witnessed 46 deals for 0.125m shares worth N72.673m.

It was trailed by Forte Oil down N1.7 or 5.72% per share in 42 deals involving 0.269m shares worth N7.674m, PZ Cussons which shed N1.25 per share in 54 deals for 0.760m shares valued at N9.248m and GTB down N1 per share amidst 262 deals for 13.681m shares worth N522.753m.

On the other hand, price gainers were paced  by Unilever Nigeria up N4 or 10% per share as it closed at N44 per share after hitting day low of N41.4 compared to Tuesday's N40 per share.

Unilever ended the day with 86 deals for 1.140m shares worth N47.760m.

The only other equity with above N1 per share gain was Okomu Oil and Palm which rose by N2.8 or 3.41% per share while recording 16 deals involving 0.370m shares worth N31.508m.

The level trade clocked on Tuesday was hard to replicate especially in terns of deals struck but it was still very much above average

A total of 5858 deals were struck for 470.399m shares worth N4.240bn as against 7052 deals through which 580.413m shares were exchanged for N8.032bn on Tuesday.

Top volume was witnessed by Diamond Bank still perfecting the proposed merger with Access Bank.

It witnessed 75 deals for 131.001m shares worth N314.357m followed by Zenith Bank with leading 518 deals for 2nd ranked 44.085m shares worth leading N1.097bn while closing down N0.1 per share.

Sterling Bank, trailed closely in terms of investors interest with 510 deals struck for only 7.149m shares worth N17.580m.

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