The Nigerian Stock Exchange (NSE) remained bearish, as the All Share Index closed at 36,299/82 basis points, down 0.09% Year to date, the index is down 5.08%.
Top Gainers and Losers
Unity Bank led the top gainers in today’s trading session. The stock appreciated by 9.30% to close at N0.94. Sovereign Trust Insurance closed at N0.25, up 8.70%. Neimeth Internatiional Pharmaceuticals Plc closed at N0.77 up 8.45%.
On the flip side, Mutual Benefits Assurance was the biggest loser in today;s trading session, closing at N0.28, down 9.68%. Closing following was NSL Tech which closed at 9.09%. Union Diagnostic and Clinical Services rounds up the top 3 gainers with a 7.69% loss to close at N0.36
UBA Plc was the largest trading stock by volume 21.3 million shares valued at N205 million traded in 90 deals. 14.1 million shares valued at N3.4 million were traded in 42 deals. Transcorp Plc rounds up the top three gainers list with 8.3 million shares valued at N10 million were traded in 102 deals.
Interest income dropped from N165 billion in 2017 to N161 billion in 2018. Profit before tax however increased from N101 billion in 2017 to N109 billion in 2018. Profit after tax jumped from N83.6 billion in 2017 to N95 billion in 2018.
Cornerstone Insurance Plc today released its results for the financial year ended December 2017, as well as Q1 and H1 2018 results.
For the full year ended December 2017, Gross Premium Written dipped slightly from N9.2 billion in 2017 to N9.1 billion in 2018. The company’s losses increased from N1.2 billion in 2017 to N3.4 billion in 2018.
H1 2018 results for the underwriter show Gross Premium Written increased from N5.5 billion in 2017 to N7.1 billion in 2018. The company made a profit before tax of N415 million as against a loss before tax of N866 million made in the corresponding period of 2017.