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NSE closes in the red as MPC leaves rates unchanged

Onome Ohwovoriole by Onome Ohwovoriole
July 24, 2018
in Markets, Stock Market
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The Nigerian Stock Exchange closed in the red today as the Central Bank of Nigeria (CBN)’s Monetary Committee (MPC) left the Monetary Policy Rate (MPR) and other variables unchanged. MPR was left at 14% Cash Reserve Ratio (CRR) at 22.5% Liquidity Ratio at 30% and the asymmetric corridor at +200/-500 basis points.

The NSE All Share index closed down 0.70%. Year to date, the index is down 4.68%.

Large trades by volume

Medview Airlines Plc continued its large volume trades as 100,006, 000 shares valued at N210 million where traded in deals. 45.5 million Transnational Corporation (Transcorp Plc) shares valued at N54.2 million were traded in 212 deals. Zenith Bank rounds up the third position with 42.7 million shares valued at N988 million traded in 438 deals.

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Top gainers and Losers

Cutix Plc topped the gainers chart closing at N3.63 up 10%. Custodian Investment closed at N6.10 up 9.91%. Wapic Insurance closed at N0.44 up 4.76%.

On the flip side, Lafarge closed at N29.25 down 10%. Beta Glass closed at  N72.9 down 10% and Presco closed at N59.55 down 9.98%

Corporate Actions released today

Stanbic Ibtc

Stanbic Ibtc announced the resignation of one of its directors Ratan Matani, effective 19th of July 2018.

Lafarge Africa

Lafarge Africa (WAPCO) released its half year results for the period ended June 2018.The company reported revenue of ₦162.29 billion in June 2018 compared to ₦154.84 billion reported for the period ended June 2017.

The company however made a before tax of ₦6.35 billion for the period ended June 2018 as against profit before tax of ₦18.16 billion reported for the period ended June 2017.

Lafarge also announced the resignation of Mr. Jean-Carlos Angulo as Non-Executive Director of Lafarge Africa Plc with effect from the 20th of July 2018, and the appointment of Mr. Rossen Papazov as Non-Executive Director with effect from the 21st of July 2018.

Unity Kapital

Unity Kapital announced the appointment of Saratu Umar Garba as substantive company secretary.

Caverton Offshore Support Group Plc

Caverton released its results for the half year ended June 2018. Revenue increased from N10.1 billion in 2017 to N14.2 billion in 2018. Profit before tax jumped from N938 million in 2017 to N1.5 billion in 2018. Profit after tax also increased from N594 million in 2017 to N964 million in 2018.

DAAR Communications

DAAR Communications today released its half year results for the period ended June 2018. Revenue increased from N1.7 billion in 2017 to N1.9 billion in 2018. Loss before tax stood at N392 million in 2018, as against N1.2 billion in 2017.

Nigerian Aviation Handling Company (NAHCO) Aviance

NAHCO released its results for the half year ended June 2018. Revenue increased from N3.7 billion in 2017 to N4.6 billion in 2018. Profit before tax jumped from N203 million in 2017 to N503 million in 2018. Profit after  tax also increased from N176 million in 2017 to N418 million in 2018.

Chemical and Allied Products(CAP) Plc

CAP Plc released its results for the period ended June 2018. Revenue increased from N3.4 billion in 2017 to N3.8 billion in 2018. Profit before tax also grew from N1 billion in 2017 to N1.3 billion in 2018. Profit after tax rose from N696 million in 2017 to N917 million in 2018.

 

 

 


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Tags: Nigerian Stock Exchange (NSE)Nigerian Stocks
Onome Ohwovoriole

Onome Ohwovoriole

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

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