MAR 26, 2019: NIGERIA: TIME FOR TRICKLES?

It looks like it is time for trickles at the Nigerian Stock Exchange after last week's relatively high daily traded volume.

On Tuesday March 26, only 143.708m shares worth lowly N1.682m were traded in admittedly higher 3457 deals. This represents a further drop on Monday's equally lowly traded volume.

On Monday, only 168.721m shares were exchanged in 3048 deals worth N3.751bn. This was lower than the 231.234m traded on Friday and indeed, compared unfavorably with above 200m shares per trading day all through last week and for a long while now.

FBN Holdings led traded volume with 29.655m shares exchanged in 283 deals worth N243.267m while closing up N0.05 per share. 

Access Bank remained active amidst continued investors interest as well as it followed with 266 deals for 16.340m shares valued at N106.050m while gaining N0.05 per share as well.

But Zenith Bank was back at the top of number of deals with 311 deals involving just 6.332m shares worth N137.694m as it gained N0.2 per share in the process.

Dangote Cement however, recorded top traded value while witnessing N1.5 or 0.80% per share price rise. DangCem closed with 76 deals for 1.996m shares worth N379.316m.

The market barely shrunk though as the All share index eased by lowest % margin this year, just 0.01% to 31,038.86.

That was understandable because price changes were not only relatively scarce but it was a close call between the losers (18) and gainers (20) and their margins as well.

Lead gain was by 11 Plc ( formerly Mobil Oil Nigeria) up N3 or 1.80% per share. Most likely influenced recent announcement of dividend for 2018 year, 11 Plc rose through the day from Monday's N167 pee share to day low of N167.50 before closing at day high of N170 per share.

This was while witnessing 29 deals through which 0.089m shares were traded for N15.024m. It was trailed by DangCem then from a further distance by Cadbury Nigeria, up N0.95 or 9.60% per share in 17 deals involving 0.108m shares valued at N1.175m.

On the other hand, Presco paced price drops with N3.5 or 5.15% per share decline to close at day high of N64.5 per share after it had slipped to day low of N64 per share from Monday's N68 per share.

It was trailed by Nigerian Breweries with N2.50 or 3.60% decline per share while recording 89 deals for 0.347m shares worth N23.254m.



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