MAR 15, 2019: NIGERIA: DAY OF MINOR PRICE CHANGES

Friday March 15, 2019 was clearly a day of minor price changes at the Nigerian Stock exchange with changes too little to be recognised closing at 15 cpmpared to only 9 price gains and 19 drops.

Even the noted price changes were Minot too as only 11 Plc (Mobil of yore) recording up to N1 per share change, all others were below.

The lone ranger, 11 Plc found and closed at N166 per share from Thursday's N165 while recording only 5 deals for 0.014m shares valued at N2.45m. The  gain came to 0.61%.

Amongst top 5 gains, it was followed by Union Bank up N0.15 or 2.16% per share in 24 deals involving 0.310m worth N2.142m.

Stanbic IBTC and Oando then trailed with N0.1 per share gain each. For Stanbic this was as 56 deals were struck for 2.690m shares valued at N129.339m while Oando recorded 43 deals for 0.997m units worth N5.805m.

African Prudential plc, on the other hand, led price drop with N0.25 or 6.17% per share. It closed the day at day high of N3.8 after a low of N3.76 per share compared to N4.05 previously.

This was as Afriprud recorded 48 deals through which 1.007m of its shares were exchanged for N3.806m.

Close on its heels, Ikeja Hotels went down N0.23 or 10% per share while witnessing just 6 deals for 0.344m shares valued at N0.718m.

Then UBA, United Capital Plc and Zenith Bank followed with N0.2 per share each while recording different deals.

UBA closed with 260 deals for 24.037m shares worth N181.946m while going down 2.61%; and United Capital witnessed 66 deals for 2.762m shares worth N7.746m  as its decline amounted to 6.67%.

On the other, Zenith Bank recorded top volume of 39.600m shares traded in 311 deals valued at day high N877.857m while closing 0.90% down.

In the end, the All share index eased 0.22% to 31,142.72. This represented 781.79 points drop on previous week's closing 31,924.51.

In all 3022 deals were sealed for 209.618m shares worth N3.329bn with Guaranty Trust Bank chipping in top number of deals as it recorded 357 deals for 2nd highest 39.908m shares worth N842.034m, also 2nd highest traded value.

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