APRIL 18, 2019: NIGERIAN STOCK EXCHANGE UP 1.74% IN 4-DAY WEEK.

Propelled by more positive outlook, the Nigerian Stock Exchange ended 4 day week on Thursday with the All share index up 1.74% on previous week's level.

It closed Thursday, the last trading day because of Easter Holidays, at 30,086.31, up 0.39% on Wednesday's 29,970.86.

The week had taken off with 0.14% drop to 29518.85 on Monday but recovered from then on till the week's end. It rose to 29746.2 on Tuesday then further to 29970.86 by Wednesday.

The Thursday rally was driven by Dangote Cement as it paced 25 price gains that overwhelmed 13 price drops even though margins of drop were higher.

DangCem was the sole equity with up to N1 per share as it rose at this bar or 0.53% per share to close at N188 per share after hitting day high of N190 and low of N189 per share compared to N188 on Wednesday.

DangCem witnessed 37 deals through which 0.291m shares were exchanged for N55.166m.

As a matter of fact, 17 more price gains were recorded within the day but they were too low to count.

The 13 price losers were led by top 5 dominated by above N1 per share decline. Top of the heap was 11 Plc with N2.9 or 1.63% per share gain as it found and closed at N175 per share.

It had ended Wednesday N177.9 per share and recorded just 9 deals for 0.021m shares worth N3.784m.

It was trailed by 2 other drops. Julius Berger went down N2.5 or 9.09% per share while recording 23 deals for 0.143m shares valued at N3.600m; and  Beta Glass gained N2.35 or 4.03% per share in just 1 deal for 0.123m shares worth N6.892m.

In all 3399 deals involving 226.979m shares worth N1.738bn compared to 4025 deals for 216.012m worth N3.227bn.

It looks like Access Bank, after the merger with Diamond Bank, has stepped up within the market. It once again paced the market in traded volume and deals struck.

A total of 58.396m shares of Access Bank were traded in 537 deals worth N403.399m while shedding N0.2 per share.

Top traded value was however recorded by Zenith Bank, up marginally, in 285 deals for 58.396m shares worth N574.591m.

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