MAR 19, 2019: NIGERIA: ACCESS BANK GETS ACCESS

At the Nigerian Stock Exchange, Access Bank plc appears to have found the formula to access top investor interest and retain it.   

On Tuesday, March 19, 2019, it once again paced traded volume and number of deals struck with 712 deals recorded for 84.673m shares worth N500.042m while closing up N0.1 per share. The shares were traded at between N6 and N5.9 per share.

The previous day, Monday, it had also set the pace for both market indicators as it closed up N0.05 per share accompanied with 606 deals for 56.019m shared valued at N328.39m.

Both centre stage interest for Access Bank were more or less follow up to recent formal OK given by shareholders at a court ordered meeting for the company to go ahead with mergers plans with Diamond Bank.

In previous recent days shares traded and number of deals struck were more of the average kind like March 15's 263 deals for 17.573m shares worth N100.23m and March 14's 141 deals for 5.037m shares.

In both volume and number of deals, on Tuesday. UBA  trailed Access with 380 deals involving 40.905m shares worth N307.882m while recording insignificant gain.

However, Guaranty Trust Bank, it was that led traded value with N796.956m realised by investors from 210 deals for 22.064m shares while topping with N1.45 or 4.10% per share.

It was a day of relatively bold price changes with all but one top 5 drops above N1 per share and 2 out of top 5 gains also in the same league.

There were 18 drops and 17 gains but the All share index eased by 0.14% to 31,082.32 mainly because in Naira terms decline margins were higher.

Top priced Nestle Nigeria paced downwards with typical N18.4 or 1.19% per share drop as it found and closed at N1526.6 per share compared to N1545 previously.

This was while witnessing 59 deals for 0.070m shares valued at N106.443m.

It was followed by Presco plc down N5 or 6.67% per share in 9 deals for 0.08m shares worth N5.466m;  Nigerian Breweries with N7 or 9.33% per share drop in 80 deals involving 1.405m shares valued at N98.445m and GlaxoSmithKline, down N1.05 or 9.09% per share while 0.079m shares were exchanged for N0.841m in 15 deals.

On the other hand, 11 Plc (formerly Mobil) led price gains with N4 or 2.40% per share as it closed at N170 per share from Monday's N166 per share amidst 16 deals for 0.018m shares worth N3.114m.

In all there were 3924 deals for 286.899m shares valued at N3.094bn as against 3821 deals involving 205.725m shares worth N1.925bn on Monday.

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