APRIL 10, 2019: ANOTHER REPRIEVE FOR NIGERIAN STOCK EXCHANGE

After another 2 days down, the Nigerian stock exchange got yet another reprieve on Wednesday April 10, 2019 as the All share index edged up by 0.12% to 29,193.42

It was a day of above average price changes and almost evenly shared too between gainers and losers but it mostly cautious price discovery.

There were 24 price gains and 18 drops with all except 3 below N1 per share. The exceptions were distributed two price drops and one gain.

The lone major gainer, Dangote Cement, no doubt made a difference in the ASI closing upwards. Compared to Tuesday when it joined others in driving the ASI down with N0.5 per share drop, DangCem ended up this time around.

It led price gainers with N1 or 0.54% per share rise N186 from Tuesdays N185 per share while recording 92 deals for 1.149m shares worth N213.125m.

In contrast, there were 2 major price drops and both were N1 per share. Cement Company of Northern Nigeria eased by N1 or 5.88% pee share to close at N16 as against Tuesday's N17 per share while witnessing 21 deals involving 0.175m shares valued at N2.797m.

Unilever Nigeria, too, declined by N1 or 2.86% per share while 1.474m of its shares were traded in 69 deals worth N50.128m.

For GlaxoSmithKline, price drop was close to being major as it shed N0.95 or 10% per share in 55 deals involving 2.336m shares worth N19.996m.

There was slight improvement in trade as 3559 deals were struck for 481.626m shares worth N2.877bn compared to 374.026m shares exchanged in 3634 deals worth N3.057bn on Tuesday.

This time around, Sterling Bank played 2nd fiddle in terms of traded volume as it recorded 55 deals for 48.888m shares valued at N126.902m while technically closing firm.

Top volume was witnessed by Transcorp PLC in which 102 deals  were struck as 174.548m of its shares were offloaded for N200.609m.

Zenith Bank retained top number of deals with 314 through which 11.672m of its shares were exchanged for N240.468m while closing up among top 5 gains with N0.45 or 3.23% per share.

However, lead traded value was Guaranty Trust Bank N758.508m realised by investors from 280 deals involving 22.888m.

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