APRIL 15, 2019: NIGERIAN STOCK EXCHANGE SHRINKS BUT STILL POSITIVE

The All share index at the Nigerian stock exchange shrunk by 0.14% to 29,518.85 on Monday April 15 2019 despite more positive outlook indicated by 24 price gains and only 18 drops.

This was after rising by 0.73% on Monday as 28 gains and 8 drops were recorded.

The ASI was driven downwards by decline by giant equities Nestle Nigeria ( by price) and Dangote Cement ( by market capitalisation).

Nestle paced price drops with N3.8 or 0.26% per share drop to N1452.2 per share which itself was a rally from day low of N1450 per share compared to N1456 per share on Friday.

This was as it witnessed 29 deals for 0.241m shares valued at N350.054m.

On the other hand, Dangote Cement followed closely with N3 or 1.59% per share decline in 54 deals for 0.253m shares worth N47.905m.

All other price drops were below N1 per share with Flour Mills of Nigeria at 3rd place with N0.45 or 2.67% per share decline while 50 deals were sealed for 1.740m shares worth N28.310m.

From the other end of the spectrum, Nigerian Breweries recorded the only major price gain as it found and closed at N64 per share, up N3.8 from Friday's N60.2 per share.

NB closed with 120 deals for 1.260m shares worth N80.976m and it was followed on top 5 price gains by Cement Company of Nigeria up N0.9 or 5.63% per share in 18 deals for 0.338m shares valued at N5.500m.

Trading remained once again below average with top 5 price gainers and losers recorded trickles of deals like on Friday.

Of the 10 equities in this top range, only Nigerian Breweries and UBA closed with above 100 deals. UBA placed 5th on decline rankings with N0.3 or 4.62% per share drop in 225 deals for 13.652m shares worth N86.381m.

Lead traded volume was once recorded by Sovereign Insurance as 45.715m shares were traded in 11 deals worth N10.964m almost like Friday when it topped with 9 deals involving 47.051m  units valued at N11.292m.

It was FBN Holdings that however led number of deals  with 296 for 9.765m shares worth N70.916m while traded value was led by Guaranty Trust Bank as investors realised N503.349m  from 14.356m shares traded in 163 deals.

In the end, 3175 deals for 223.777m shares worth N1.785bn were struck compared to 2677 deals involving 232.773m shares valued at N1.972bn on Friday

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