This week was a continuation of the bearish trend on the Nigerian Stock Exchange (NSE) as the All Share Index closed down 1.34%. Month to date, the index is down 1.93%. Year to date, however, the index is up 5.83%.
20 equities appreciated during the week, 54 depreciated and 95 equities remained unchanged.
Gainers
Sovereign Trust Insurance Plc
Sovereign Trust Insurance was the biggest gainer this week. The stock opened at N0.20 and closed at N0.26 up 30%. The stock witnessed significant volume within the week, indicating that an investor may be taking position.
Year to date, however, the stock is down 48%. The NSE this year lowered the minimum price trading floor from N0.50 to N0.10, and then N0.20. Insurance stocks that were trading at the old price floor have largely dropped.
Mutual Benefits Assurance Plc
Mutual Benefits Assurance opened at N0.28 and closed at N0.33 this week, gaining N0.05 or 17.86%. Year to date, the stock is down 34%.
The company recently released its Q1 2018 results and declared a N0.02 dividend for the 2017 financial year. The dividend is the first in nearly a decade.
NPF Microfinance Bank Plc
NPF Microfinance Bank opened at N1.76 and closed at N1.94, gaining N0.18 or 10.23%. Year to date, the stock is 55.20%.
Fidson Healthcare Plc
Fidson Healthcare gained 7.06% this week. The stock opened at N5.38 and closed at N5.76, appreciating by N0.38. Year to date, the stock is up 55.68%.
Beta Glass Plc
Beta Glass opened at N83.20 and closed at N87.25, up N4.15 or 4.99%. Year to date, the stock is up 70.24%.
Continental Reinsurance Plc
Continental Reinsurance gained 4.90% this week. The stock opened at N1.43 and closed at N1.50. Year to date, the stock is up 7.14%.
UACN Property Development Company (UPDC)
UPDC opened at N2.15 and closed at N2.25 this week, gaining N0.10 or 4.90%. Year to date, however, the stock is down 19.35%.
Prestige Assurance Plc
Prestige Assurance Plc opened at N0.46 and closed at N0.48 up N0.02 or 4.35%. Year to date, however, the stock is down 4%.
The company this week announced Wednesday May 23, 2018 to Wednesday June 6, 2018 as the closing period for its share reconstruction. During this period, there shall be no trading in the company’s shares.
Cutix Plc
Cutix Plc was incorporated on November 4, 1982 as a private limited liability company. The company was initially quoted on the Nigerian Stock Exchange Alternative Securities Market (ASEM) and later migrated to the first tier on February 18, 2008.
Cutix is into the manufacturing and marketing of electrical, automobile and telecommunications cables and related products. The company is located in Enugu state.
The stock opened at N3.05 and closed at N3.15, up N0.10 or 3.28%. Year to date, the stock is up 56.72%.
CAP Plc
CAP Plc is a subsidiary of UAC of Nigeria Plc, one of the country’s oldest conglomerates. The company is into the manufacture and sales of paint.
CAP opened at N38.90 and closed at N40, up N1.10. Year to date, the stock is up 17.65%.
Losers
Japaul Oil and Maritime Services Plc
Japaul Oil and Maritime shed 25% during the week. The stock opened at N0.25 and closed at N0.20, down N0.05.
The company recently announced its termination of an agreement by Milost Global to invest in the firm.
Skye Bank
Skye Bank opened at N0.94 and closed at N0.76, down N0.18 or 19.15%. The bank is yet to release its financial statements for the 2017 financial year and no explanation has been provided for this. Year to date, the stock is up 52%.
Diamond Bank Plc
Tier two lender, Diamond Bank, lost 18.42% this week. The stock opened at N1.90 and closed at N1.55.
Diamond bank last week released its FY 2017 and Q1 2018 results. The bank made a loss after tax of N11.5 billion for the 2017 financial year. Q1 2018 profit amounted to N784 million.
Year to date, the stock is up 3.33%.
CCNN Plc
CCNN, which was last week’s biggest gainer, shed 17.24% this week. The stock opened at N29.00 and closed at N24, down N5.00 or 17.24%. Year to date, CCNN is up 152.63%.
Fidelity Bank
Fidelity Bank dropped 14.68% this week. The stock opened at N2.52 and closed at N2.15, down N0.37.
Year to date, Fidelity is down 12.60%.
Veritas Kapital Assurance Plc
Veritas Kapital opened at N0.42 and closed at N0.36 this week. The stock thus shed N0.06 or 14.29%. Year to date, it is down 28%.
Equity Assurance Plc
Equity Assurance depreciated 13.79% this week. The stock opened at N0.29 and closed at N0.25, down N0.04. Year to date, the stock is down 50%.
Okomu Oil Palm Company Plc
Okomu Oil opened at N90 and closed at N78.40, down N11.60 or 12.89%. Year to date, the stock is up 15.82%.
C & I Leasing Plc
C and I Leasing shed 12.87% this week. The stock opened at N1.71 and closed at N1.49, down N0.22. Year to date, the stock is up 15.5%.
Niger Insurance Plc
Niger Insurance, which was last week’s biggest loser, remains on a losing streak. The stock opened at N0.24 and closed at N0.21 down 12.5% or N0.03.
Year to date, the stock is down 58%.
