The Nigerian Stock Exchange (NSE) shook off the negative trend this week to close Friday’s trading session at 35,266.29, up 1.88%%. Year to date, the index is down -7.78%. Prior to today, the All Share index had closed negative in the last four trading sessions.
The rebound was led by Dangote Cement which closed at N220 up 6.80%. The stock, which makes up a third of total market capitalization, hit a year low this week.
Top Gainers and Losers
Newrest ASL was the best performing stock in today’s trading session. The stock closed at N4.45, up 9.88%. Veritas Kapital Assurance closed at N0.26, up 8.3%. Japaul Oil and Maritime rounds up the top 3 gainers with a 7.68% gain to close at N0.28.
On the flip side, Law Union and Rock Insurance closed at N0.36, down 10%. Unity Bank also closed at N0.81m down 10%. Mutual Benefits Assurance closed at N0.30, down 9.09%
Top trades by volume
NEM Insurance was the top traded stock by volume as 130 million shares valued at N520 million were traded in 19 deals. Next is AXA Mansard which traded 94.4 million shares valued at N240million in 3 deals. Transcorp Plc rounds up the top 3 gainers with 17.4 million shares valued at N19.6 million traded in 82 deals.
Corporate Actions
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, closing of shareholders’ registers, announcing qualification dates and Annual General Meeting (AGM) dates.
Zenith Bank Plc
Zenith Bank Plc has shifted the payment date of its interim dividend from August 24, 2018, to August 29, 2018. This is due to the public holidays declared by the Federal Government. The qualification date and closure date remain August 17 2018 and August 20 2018 respectively.
Premier Paints Plc
Premier Paints Plc will be holding its 24th Annual General Meeting (AGM) on the 24th of September 2018.
CWG Plc
CWG Plc has announced a partnership with Entersekt, a provider of mobile-first fintech solutions. CWG will provide Entersekt’s full range of solutions to banks and other enterprises.
