Nigerian stocks tumble as demands diminishes – Nairametrics

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The Nigerian Stock Exchange (NSE) continued to stumble as the all share index closed at 36,232.66 basis points down 0.20%. Year to date, the index is down 5.26%.

Top Gainers and Losers 

Courtville Business Solutions closed at N0.22, down 10%. Sterling Bank closed at N1.49, down 9.56%. Niger Insurance closed at N0.39, down 8.33%.

On the flip side, Linkage Assurance was the biggest loser in today’s trading session, dropping by 10% to close at N0.72. Law Union and Rock closed at N0.90, down 10%. Veritas Kapital Assurance closed at N0.27 down 10%.

Top Traded Stocks by Volume 

The top three traded stock by volume was from the financial services sector. UBA Plc was the top traded stock by volume of 27.2 million shares valued at N26 million traded in 111 deals. Law Union and Rock closed second with 25 million shares valued at N22.5 million traded in 2 deals. Zenith Bank rounds up the top three most traded with 19.9 million shares valued at N471 million traded in 275 deals.

Corporate Actions 

Berger Paints Plc

Berger Paints Plc released its results for the half year ended June 2018. Revenue increased from N1.4 billion in 2017 to N1.6 billion in 2018. Profit before tax increased from N145 million in 2017 to N179 million in 2018. Profit after tax also rose from N99 million in 2017 to N121 million in 2018.

Notore Chemical Industries Plc 

Notore Chemical Industries Plc released its results for the nine months ended September 2018. The company also held an investor conference call today.

CAP Plc 

Chemical and Allied Products Plc (CAP) Plc, today, announced the resignation of its Chairman Larry Ettah. Ettah had earlier this week resigned from the board of UAC Property Development Company.

Fortis Microfinance Bank Plc 

Fortis Microfinance Bank Plc in a notice sent to the Nigerian Stock Exchange (NSE) attributed its failure to submit its second quarter 2018 results to what it described as the revalidation of its audited 2016 full year financial statements and audit of its 2017 full year financial statements.

Guaranty Trust Bank 

Guaranty Trust Bank has shifted the closure of its shareholders register from Wednesday, August 22, 2018, to Thursday 16th of August 2018, due to the likelihood of the former being declared a public holiday.

Qualification date is the 15th of August 2018. The payment date for the dividend is now August 30, 2018. The bank will be paying an interim dividend of N0.30 per share.

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