Nigerian Stock Exchange
Nigerian Stock Exchange

The Nigerian Stock Exchange ended the first trading day in September on a bearish note. The All Share Index closed at 0.03%. Year to date, the index is down 8.91%.

Top Gainers and Losers 

Hallmark Insurance Plc led the top gainers as the stock appreciated by 105 to close at N0.90. Continental Reinsurance rounds up the top 3 gainers with a 9.49% gain to close at N1.50.

On the flip side, Jaiz Bank led the losers in today’s trading. The stock closed at N0.45, down 10%. Flour Mills of Nigeria Plc was next closing at N21.95, down 9.67%. Transcorp Plc rounds up the top 3 losers, closing at N1.16 down 7.94%

Top Trades by Volume  

Nigerian Breweries was the highest traded stock by volume. 19.1 million shares valued at N1.8 billion were traded in 94 deals. Stanbic IBTC was next with 11.8 million shares valued at N556 million traded in 46 deals. AIICO Insurance Plc rounds up the top 3 most traded by volume with 11.2 million shares valued at N10 million traded in 94 deals.

Corporate Actions

Redstar Express Plc 

The following resolutions were agreed and passed during the company’s AGM held on August 30, 2018.

  • The audited financial statements for the year ended March 2018 and the report of the directors and audit committee.
  • Payment of a dividend of 40 kobo per share
  • The appointment of Suleiman Baru and Mrs. Chioma Sideso as Non-Executive Directors
  • The reelection of Alhaji Aminu Dangana as a Non-Executive Director
  • That the Directors are authorized to fix the remuneration of the auditors.
  • The reelection of Chief Cyril Ifeanyichukwu, Alhaji Kolawole Ganiyu Alao, and Ogundeji Moses Ayodele as shareholders representatives of the Audit Committee.
  • That the directors’ fees for the period ending March 31, 2019, be fixed at N6,375,000

Meyer Plc

Meyer Plc announced the resignation of its Managing Director Adeola Omosoebi effective 25th of August 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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