This week was another bearish one on the Nigerian Stock Exchange (NSE) as the All Share Index depreciated by 2.84% to close the week at 39,323.62 basis points. Year to date appreciation has since been whittled to 2.83%.
14 equities appreciated in price during the week, 61 equities depreciated, while 94 equities remained unchanged.
Here is a list of the top gainers and losers during the week.
Ikeja Hotels Plc
Ikeja Hotels was the biggest gainer this week, up by a whooping 44%. The stock opened at ₦1.78 and closed at ₦2.58. Year to date, the stock is also up by 44.94%. Activity around the stock has been largely driven by this week’s lifting of a technical suspension placed by the NSE during a boardroom crisis.
MRS Oil Nigeria Plc
MRS Oil Nigeria opened the week at ₦29.75 and closed at ₦36.05, up ₦6.30 or 21.18%. Year to date, the stock is up 3.24%.
Law Union and Rock Insurance Plc
Law Union and Rock was incorporated on June 17, 1969 in accordance with the provisions of the Companies and Allied Matters Act, 1968, transacting primarily General Insurance business. On 9 July 1990, it was listed on the Nigerian Stock Exchange.
The stock opened at ₦0.81 and closed at ₦0.98, appreciating by ₦0.17 or 20.99%.
Year to date, the stock is up 27.27%.
Niger Insurance Plc
Niger Insurance gained 19.05% this week. The stock opened at ₦0.21 and closed at ₦0.25, up ₦0.04. Year to date, the stock is down 50%. The NSE had earlier this year moved the minimum price floor from ₦0.50 to ₦0.10, then ₦0.20.
Consolidated Hallmark Insurance Plc
Consolidated Hallmark opened at ₦0.27 and closed ₦0.30, up ₦0.03 or 11.11%. Year to date, however, the stock is down 40%.
The company this week held its Annual General Meeting (AGM) and declared a ₦0.02 dividend for the 2017 financial year.
Okomu Oil Palm Company Plc
Okomu Oil Palm gained 8.42% this week. The stock opened at ₦78.40 and closed at ₦85, up ₦6.60. Year to date, the stock is up 25.57%.
John Holt Plc
John Holt Plc was incorporated on August 28, 1961 as a limited liability company. The company was listed on the NSE in May 1974, and is a subsidiary of John Holt and Company (Liverpool) UK.
The principal activities of the company include the assembly, sales, service and lease of power and cooling equipment, boat building, sales and lease of marine equipment and construction.
John Holt Plc opened at ₦0.52 and closed at ₦0.56 this week, gaining ₦0.04 or 7.69%. Year to date, the stock is up 12%.
Royal Exchange Plc
Royal Exchange was incorporated as a private limited liability company on December 3, 1969. It converted to a public limited liability company on July 5, 1989 and was listed on the NSE on December 3, 1990.
The principal activities of the company include healthcare and general insurance, financing, asset management, trusteeship and microfinance services.
Royal Exchange Plc gained 6.25% this week. The stock opened at ₦0.32 and closed at ₦0.34, up 6.25%. Year to date, the stock is down 32%.
Mutual Benefits Assurance Plc
Mutual Benefits Assurance opened at ₦0.33 and closed at ₦0.35, up ₦0.02 or 6.06%. The company’s share price has been on a rebound since its first dividend payout in nearly a decade. Year to date, the stock is down 30%.
Forte Oil Plc
Forte Oil Plc rounds up the list of top 10 gainers this week. The stock gained 5.03%, opening at ₦38.50 and closing at ₦40.70. Year to date, Forte is down 6.39%.
The company this week held its Annual General Meeting (AGM) where shareholders gave their approval to the company’s restructuring plans. Forte plans to sell its upstream, power and Ghanian units to focus on downstream operations in Nigeria.
Eterna Oil Plc
Eterna Oil Plc was the biggest loser this week. The stock opened at ₦6.78 and closed at ₦5.27, down ₦1.51 or 22.27%. Year to date, the stock is up 29.80%.
Japaul Oil and Maritime Services Plc
Japaul depreciated by 20% this week. The stock opened at ₦0.30 and closed at ₦0.24. year to date, the stock is down 52%.
Dangote Flour Mills Plc
Dangote Flour Mills opened the week at ₦10.70 and closed at ₦8.90. It thus lost 16.82%. Year to date, the stock is down 26.75%.
Transnational Corporation Plc (Transcorp) Plc
Transcorp lost 16.35% this week. The stock opened at ₦1.59 and closed at ₦1.33, down ₦0.26. Year to date, the stock is down 8.90%.
AIICO Insurance Plc
AIICO commenced operations in Nigeria in 1963 as an Agency office of American Life Insurance Company (“ALICO”) – at the time, a subsidiary of American International Group (“AIG”). The company was incorporated, registered and licensed in Nigeria as a wholly owned subsidiary of ALICO/AIG in 1970.
The Company was renamed American International Insurance Company Limited (“AIICO”) upon the acquisition of a 60% stake by the Federal Government of Nigeria and later listed on the Nigerian Stock Exchange in 1990, after which both shareholders – the Federal Government of Nigeria and AIG – divested.
AIICO Insurance opened at ₦0.68 and closed at ₦0.57, shedding ₦0.11 or 16.18%. Year to date, the stock is up 9.62%.
Equity Assurance Plc
Equity Assurance plc was incorporated on December 13, 1984 to carry out non life insurance business. It was converted to a public limited liability company in 1985. The company emerged as a result of the merger between Equity Indemnity Insurance Limited and First Assurance Plc. Sunu Assurance acquired a majority stake in the firm in 2016.
Equity Assurance depreciated by 16% or ₦0.04 during the week. The stock opened at ₦0.25 and closed at ₦0.21. Year to date, the stock is down 58%.
Flour Mills Nigeria Plc
Flour Mills opened the week at ₦34.95 and closed at ₦29.50, down ₦5.45 or 15.59%. Year to date, the stock is up 1.72%.
FCMB Group Plc
FCMB dropped 15.38% this week. The stock opened at ₦2.60 and closed at ₦2.20, down ₦0.40. Year to date, the stock is up 48.65%.