AUG 3, 2019: LAST WEEK AT NIGERIAN STOCK EXCHANGE

The only market indicator that closed positive in the week to Friday August 2, 2019 at the Nigerian Stock Exchange was traded value; up a solid 21.9% to N13.889bn from previous week's N11.393bn.

The reason was that more of the deals were recorded in high and medium price equities since traded volume declined by 29.4% to 754.862m shares from 1,068.695m previously.

In particular, trade in MTN Nigeria shares within the week increased from previous week's 13.201m valued at N1.673bn to 37.060m shares exchanged for N4.710bn, the pace the week's traded value. The number of deals struck in MTN were only slightly higher at 586 compared to 545 previously.

The bulk of the MTN all week trade occurred on Friday with 101 deals for 25.367m shares worth N3.222bn while MTN led price drops with N2.05 or 1.59% per share.

However, MTN Nigeria only led the market in traded value and did not in fact appear among top 5 by any other market indicator. Instead, once again Guaranty Trust Bank and Zenith Bank made all 3 top 5 but unlike the previous week, United Bank For Africa featured in only 2 by not making top 5 by traded value.

GTB placed 3rd by volume with 72.985m of its shares exchanged in 4th ranked 925 deals worth 2nd placed N2.073bn while Zenith led traded volume with 93.907m of its shares exchanged in equally leading 1642 deals valued at 4th ranked N1.726bn.

Both UBA and FBN Holdings appeared in top 5 by deals and volume. UBA recorded 2nd highest 988 deals for 3rd placed 70.984m shares worth N418.388m and FBN witnessed 3rd ranked 971 deals for 4th placed 63.311m shares worth N357.507m.

MTN Nigeria was not the only one with appearance in only one top 5 chart; Access Bank, Nestle Nigeria and Dangote Cement did too.

DangCem recorded 3rd highest traded value (N1.812bn) as 283 deals were struck for 10.711m shares; Access bank closed with 5th placed 780 deals for 38.252m shares worth N242.787m and Nestlé Nigeria placed 5th by traded value (N689.904m) as 275 deals were sealed for exchange of 0.535m shares.

The All share index declined by 288.13 points or 1.03% within the week compared almost firm closing the previous week. In fact, it was only on Monday the ASI rose all through the week.

There were 32 price gains and 26 drops which confirms that the ASI dropped more because of higher margins of decline and by higher priced equities.

Nestle Nigeria  paced decline for the week with N30 per share drop to N1270 from N1300 previously and in sharp contrast to leading price gains the previous week with N50 per share rise.

It was followed by Total Nigeria down N12.70 per share to N114.80 from N127.50; Nigerian Breweries with N10 per share drop to N50 from N60 per share and Con Oil down N1.65 per share.

The 32 price gains were led by Julius Berger up N2.50 per share to N20.60 per share from N18.10 previously followed by Forte Oil with N1.45 per share rise to N19.45 from previous week's N18 per share and C & I Leasing which added N1.05 per share to N6.05 per share from previous week's N5 per share.

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