FEB 14, 2019: NIGERIA: BACK UPWARDS

After punctuating daily upwards movement since this month on Wednesday with a decline, the Nigerian Stock Exchange was back on track again on Thursday, February 14, 2019.

The All share index had dropped by 0.15% on Wednesday after closing up daily since the start of the month then by Thursday it reversed to settle for 0.12% growth to 32,453.68.

This was as Unilever Nigeria again paced price gainers like it did on Wednesday and in a solo of sorts, Nigerian Breweries led price losers.

There were 22 price gainers led by Unilever up N3 or 6.82% per share ( N1 short of Wednesday's gain) as it found and closed at N47 per shares compared to N44 previously.

Unilever ended the day with 40 deals for 1.319m shares worth N61.368m compared to 86 deals for 1.140m shares valued at N47.760m the previous day.


Dangote Cement followed with N1 or 0.53% per share rise in 69 deals for 0.187m shares worth N35.869m.

Nigerian Breweries, on the other hand, led 13 price losers with N1 or 1.23% per share decline, like Unilever, simply by finding and closing at N80 per share from Wednesday's N81 per share.

None other drop touched this N1 per share line, the closest being Union Bank Nigeria down N0.55 or 8.43% per share while recording 42 deals for 0.717m shares valued at N4.920m.

Trade edged down compared to Wednesday as 4417 total deals were struck involving 423.378m shares worth N3.728bn as against 5858 deals for 470.399m shares worth N4.240bn previously.

Once again, investors in Diamond Bank opting out of the merger with Access Bank in the making, offloaded top volume for the day like in the previous 2 trading says.

Down N0.02 per share, some 97.157m shares of the bank were offloaded in 104 deals worth N233.166m pacing traded volume like on Wednesday when in 75 deals 131.001m of its shares were exchanged for N314.357m.

Other major traded volumes were Transcorp's 248 deals that resulted in exchange of 41.134m shares worth N64.101m; Zenith Bank's leading 449 deals for 40.288m shares valued at day high N997.072m and Access Bank's 39.682m shares traded in 347 deals worth N263.838m while closing down N0.05 per share.

In value terms, Guaranty Trust Bank trailed Zenith Bank very closely with N992.505m for 26.153m shares exchanged in 241 deals while barely closing up.

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