The Nigerian Stock Exchange (NSE) suffered its biggest fall this week as the All-Share Index closed at 35,446.47 basis points, down 2.17%. Year to date, the index is down 7.31%.
Stocks have now posted losses for 6 straight days of trading.
Top Gainers and Losers
Mutual Benefits Assurance was the best performing stock in today session, as it closed at N0.33, up 10%. Japaul Oil closed at N0.29, up 7.41%. Eterna Oil rounds up the top 3 gainers with a 7.38% gain, closing at N6.55.
On the flip side, GSK Consumer Nigeria was the worst performing stock in today’s trading session, shedding 10% to close at N15.30. Courtville Business Solutions closed at N0.20, down 9.09%. Equity Assurance (now Sunu Assurance) rounds up the top 3 losers with an 8.33% drop to close at N0.22.
Top trades by volume
UBA Plc was the top traded stock by volume as 52.1 million shares valued at N491 million changed hands in 113 deals. A distant second was Transcorp Plc which traded 18.5 million shares valued at N21.6 million traded in 187 deals. Courtville Business Solutions rounds up the top three traded stocks by volume as 14.7 million shares valued at N3 million were traded in 37 deals.
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Corporate actions are decisions taken by a company’s board of directors or management, that could have an impact on the firm itself or shareholders.
Examples of corporate actions include the payment of dividends, appointments or resignations, closing of shareholders’ registers, announcing qualification dates and Annual General Meeting (AGM) dates.
The company will, however, submit the results within the statutory deadline, as well as announce the recommended dividend. The closed trading period declared on the 17th of July 2018, has been extended until the submission of the results to the NSE.