Nigerian Stock Exchange Daily Market Summary September 7 2018

The Nigerian Stock Exchange (NSE) closed Friday’s trading session one a negative note as the All Share closed at 34,037.91 basis points, down 0.21%. Year to date, the index is down 11%

Top Gainers and Losers

Neimeth International Pharmaceuticals led the top gainers in today’s trading session. The stock closed at N0.66, up 10%. Skye Bank was next closing at N0.58, up 9.43%. GSK Consumer Nigeria rounds up the top 3 closing at N14.30, up 9.16%

Law Union and Rock Insurance was the worst performing stock in today’s session. The stock closed at N0,54, down 10%. Wema Bank fell by 9.52% to close at N0.57. Union Bank rounds up the top 3 losers closing at N5.30, down 9.40%

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Top Trades by volume

The most actively traded stocks were all from the banking sector. Guaranty Trust Bank was the most actively traded stock in today’s session. 27.1 million shares valued at N948 million were traded in 226 deals. Zenith Bank was next with 19.6 million shares valued at N412 million traded in 306 deals. Sovereign Trust Insurance rounds up the top 3 most traded with 12.6 million shares valued at N3 million traded in 31 deals.

Stanbic IBTC Holdings

Stanbic IBTC Ventures Limited (SIVL), a subsidiary of Stanbic IBTC Holdings PLC has applied to the Securities and Exchange Commission to surrender its licence as a Venture Capital Manager. The surrender is entirely voluntary and SEC has granted a “No Objection” to SIVL’s application.

SIVL does not have any Venture Capital obligations with any of its clients and the surrender of its licence would not impact negatively on the group as it will still continue to operate as a going concern.