APRIL 23, 2019: NIGERIAN STOCK EXCHANGE: INDEX DOWN BUT...

After going down on Thursday April 18, 2019, to close the 4 day week at 30,086.31, the All share index at the Nigerian stock exchange eased marginally by 0.03% to 30,076.0 on Tuesday after the easter holidays.

However, this was despite there being more price gains (20) than losers (17) and in between there were 11 price changes too minor to matter.

The ASI declined too occurred in spite of N2 or 1.06% per share increase the share price of Dangote Cement, the market's leader by capitalisation.

DangCem closed with the 2nd highest gain while recording 21 deals for 0.037m shares worth N6.625m.

The lead gain was recorded by 11 PLC ( erstwhile Mobil Nigeria) as it found and closed at N179.9 per share, up N4.9 or 2.8% on April 18's N175 per share.

The only other major price gainer was Dangote Flour up N1.05 or 9.81% per share in 145 deals involving 8.861m shares worth N97.960m.

Other top 5 price gainers were FBN Holdings up  N0.35 or 4.58% per share and Vitafoam which closed N0.34 or 9.71% up per share.

FBN's gain was accompanied with 204 deals for 8.283m shares valued at N64.145m while Vitafoam recorded 21 deals through which 0.973m shares were exchanged.

The price losers were paced by Guinness Nigeria with N6 or 10% per share decline to N54 per share compared to N60 previously while recording 45 deals for 0.381m shares valued at N20.625m.

Three other equities recorded major price drops. Trailing Guinness from a fair distance was Unilever Nigeria, down N3 or 8.82% per share in 92 deals through which 2 d highest 41.208m of its shares were offloaded for the day's leading traded value: N1.277bn.

Forte Oil also declined but by N2.65 or 9.83% per share in 29 deals for 0.227m shares valued at N5.553m.

Also major was N1 or 1.54% per share drop by Nigerian Breweries while recording 95 deals for 1.963m shares worth N125.741m.

Guaranty Trust Bank's N0.7 or 2.01% per share decrease was not major but it was the last of the top 5 drops and occurred as 288 deals were struck for its 12.404m shares worth N426.703m.

Trade picked when compared to just before the easter holidays. In all 3888 deals were sealed for 316.117m shares valued at N3.645bn as against 3399 deals for 226.979m shares worth N1.738bn previously.

Top traded volume was in Japaul Oil & Maritime services as 69.045m of its shares were offloaded in 118 deals worth N14.129m while closing down N0.02 per share.

On the other hand, leading number of deals was in Access Bank, up N0.05 per share,  with 369 deals involving 24.890m shares worth N170.971m  followed by Zenith Bank in which 360 deals were struck for 24.681m shares valued at N517.670m.

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