FEB 19, 2019: NIGERIA: CAUTION TAKES OVER AGAIN

After two days of relatively active price making at the Nigerian Stock Exchange, caution took over again on Tuesday February 19 2019 and the All share index rallied in the process.

On Thursday last week caution had led to only 35 price changes most of them of low margins in Naira terms. Last Friday and Monday this week, the reverse was the case as 55 and 49 price changes were recorded respectively with fairly high margins.

On Tuesday, February 19 the tempo slowed down once again leading to only 30 price changes: 16 up and 14 down  with relatively low margins especially amongst drops.

Hence the All share index rose by 0.68% to 32,409.20 even amidst the cloud of uncertainty that enveloped the country following the postponement of the February 16 presidential elections.

Top price gain was Presco's N2.4 per share increase to close at N75 per share compared to N72.6 previously as 25 deals for 0.170m shares were traded for N12.698m.

Two other equities had gains above N1 per share: Zenith Bank and Guaranty Trust Bank. Zenith Bank actually paced both number of deals with 691 deals for 2nd ranked 37.342m shares worth N925.541m.

This was while closing up N1.35 or 5.21% per share at N25.35 per share after touching day high of N25.4 and low of N24 per share with which it also closed Monday.

GTB, on the other hand, ended up N1.2 or 3.29% per share in 198 deals involving 20.438m shares for N761.605m.

On the price losers side, only 11 Plc's N1.8 or 1.06% drop was exceptional as it closed at N168.2 per share as against N170 previously. This was as 22 deals were sealed for exchange of 0.032m shares worth N5.468m.

However, Dangote Cement',s N0.8 or 0.21% per share trailing drop may not have been that major, it did lead to 109 deals for 5.004m shares worth day high N951.612m.

Transcorp plc went down more marginally with N0.15 or 9.74% per share decline driven by leading offload of 120.224m shares in 486 deals valued at N168.205m.

In all there were 4549 deals for 352.413m shares worth N4.084bn compared to Monday's 4134 deals for 233.423m shares valued at N3.363bn.

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