Nigerian Stock Exchange

The bears returned to the Nigerian Stock Exchange as the All Share Index closed at 35,311.36 basis points, down 0.32%. Year to date, the stock is down 7.67%.

Top Gainers and Losers

Diamond Bank Plc was the best performing stock in today’s trading session. The stock closed at N1.21, up 10%. Niger Insurance closed at N0.44, up 10%. Flour Mills of Nigeria Plc rounds up the top three gainers with a 9.70% gain to close at N23.60.

First Aluminium Plc was the worst performing stock today. The stock closed at N0.36, down 10%. Ikeja Hotel closed at N2.52, down 9.68%. Universal Insurance rounds up the top 3 losers today with a 9.09% decline to close at N0.40.

Top Trades by Volume

NAHCO Aviance Plc was the most traded stock by volume as 19.2 million shares valued at N73.4 million traded in 15 deals. Access Bank Plc is next with 16.8 million shares valued at N151 million were traded in 117deals. Diamond Bank Plc rounds up the top 3 trades by volume with 13.2 million shares valued at N15.5 million were traded in 83 deals.

Corporate Actions

Lafarge Africa Plc

Lafarge Africa Plc will be holding an Extra Ordinary General Meeting (EGM) on September 25, 2018. Among the agenda to be discussed are the approval of the appointment of Rossen Papazov as director and a rights issue and debt to equity conversion.

Standard Alliance Insurance Plc 

Standard Alliance Insurance Plc released its results for the first quarter ended March 2018 and the period ended June 2018.

First quarter results show gross premium written increased slightly from N1 billion in 2017 to N1.2 billion in 2018. Profit before tax increased from N323 million in 2017 to N477 million in 2018. Profit after tax also increased from N270 million in 2017 to N406 million in 2018.

Results for the period ended June 2018 show gross premium written fell from N3.1 billion in 2017 to N2.3 billion in 2018. Profit before tax also dropped from N480 million in 2017 to N330 million in 2018. Profit after tax fell from N379 million in 2017 to N284 million in 2018.

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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