FEB 15, 2019: NIGERIA: AGAIN, SHOWERS OF OFFLOADS

Once again, the Nigerian Stock Exchange witnessed showers of offloads on Friday February 15 2019, leading to new top traded volume since this year.

Like on February 8, 2019 when the first shower occurred, there were 4 equities with deals for above 50m shares of which 2 were above 100m. Unlike then however, traded value was a lot less but both number of deals and volume were more.

A total of 6177 deals were sealed on Friday for new high 808.646m shares valued at N6.486bn compared to previous day's 4417 deals for 423.378m shsres worth N3.738bn.

It also compares favourably with the first shower of offloads on February 8 when 5752 deals were struck for exchange of 723.796m shares worth N12.309bn.

Top offload was Diamond Bank's 141.633m shares traded in 113 deals worth N339.920m while closing N0.01 per share up.

Next 117.654m shares of Transcorp were offloaded in 3rd highest 463 deals valued at N198.919m while adding N0.15 per share.

The above 50m shares traded volumes were recorded in AXA Mansard insurance and Access Bank. AXA posted 14 deals for exchange of 94.599m shares worth N193.869m  while Access Bank recorded 2nd highest 487 deals for 77.164m shares valued at N509.615m.

Top traded value however was Guaranty Trust Bank',s N1.456bn investors realised from 241 deals for 39.484m shares.

But Zenith Bank posted top number of deals with 491 deals for 37.511m shares valued at N932.409m.
It was a very active day too in terms of price discovery as 55 price changes were recorded: 33 increases and 22 drops.

Hence the All share index rose far more strongly by 0.81% to 32,715.20 after resuming upwards journey on Thursday with marginal 0.12% growth.

Seplat Petroleum led all gains with N39 of 6.72% per share top up to find and close at N619 per share compared to N580 per share the previous day.

This was while witnessing 38 deals for 0.063m shares valued at N38.114m.

From quite a distance, Presco followed with N6 or 10% per share gain while showcasing 28 deals for 0.557m shares worth N36.031m ahead of Nigerian Breweries' N3 or 3.75% per share increase as 132 deals were sealed for 2.967m shares worth N244.495m.

The 2 other top 5 gainers were Dangote Cement also up N3 per share or 1.57% while recording 137 deals involving 2.343m shares valued at N457.035m and Julius Berger up N1 or 3.92% per share in 13 deals for 0.665m shares worth N4.446m.

Amongst the price losers Nestle Nigeria paced with N25 or 1.57% decline per share to close at N1565 per share after hitting a low of N1548 as against N1590 per share previously.

Nestle closed with 42 deals for 0.175m shares worth N274.011m.

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