FEB 8, 2019: NIGERIA: DAY OF BILLIONS

It was a trading day like no other at the Nigerian Stock Exchange on Friday February 8, 2019: A day of the rain of billions in traded value.

In all, 5 listed companies recorded deals worth above N1 bn each so much so that traded value hit a new high of N12.209bn for equally superlative 723.796m shares in less tantalising 5752 deals.

It is hard to compare the day's trading to Thursday levels for each of the three indicators. Then 4047 deals for 436.748m shares valued at N5.880bn was recorded as four day high in the week.

Top 5 trade on Friday was paced by Zenith Bank in which day high 147.028m shares were offloaded for equally pacing N3.669bn in 662 deals while closing down N0.05 per share.

Next was Guaranty Trust Bank with N2.825bn traded value from leading 840 deals involving 3rd ranked 72.749m shares while closing up N0.65 per share.

Unilever Nigeria also ended in the above N1bn with N1.855bn from 50.146m shares traded in just 20 deals without much of a change in price.

UBA too also helped spread smiles through the market as it witnessed 2nd ranked 142.373m shares offload in 512 deals worth N1.064bn.

The last in this league was Dangote Cement even as it led decline with N4.5 or 2.37% per share drop. DangCem recorded 97 deals through which 5.638m shares were exchanged for N1.046bn.

DangCem had hit day high of N190 per share, and low of N185.1 before closing at N185.5 per share, down on N190 per share on Thursday 

The market was kind of bullish too and 34 price gains and only 11 drops were recorded although resultant growth in the All Share index was just 0.31% to 31,529.92 compared to Thursday when 24 gains and 13 drops led to 1.98% leap in the ASI.

Lead gain was by Seplat Petroleum up N30.5 or 5.75% per share ias it found and closed at N560.5 against N530 per share previously. Seplat recorded 17 deals for 0.15m shares worth N8.716m.

Nestlé Nigeria was close on its heels with N30 or 2.04% per share gain in 53 deals for 0.075m shares valued at N114.114m 

Other major price gains were by Okomu Oil & Palm up N3 or 3.66% per share accompanied by 27 deals for 0.526m shares worth N44.730m and Flour Mills with N1 or 5.26% per share top up as 0.456m shares were traded for N9.006m in 63 deals.

Trading was so active on Friday February 8 that hitherto market leading offloads were common place.

For example, FBN Holdings recorded 411 deals for 43.424m shares worth N346.074m; Transcorp witnessed exchange of 54.539m shares in 296 deals worth N72.333m and 32.308m shares were traded in 371 deals worth N217.505m in Access Bank.

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