The Nigerian Stock Exchange fell to its worst performance year to date as the All Share Index closed at 32,292.79 basis points, down 3.46% and below the 33,000 mark. Today’s close was the highest daily loss in the last two years.
Year to date, the index is down 15.56%.
The drop was largely due to Dangote Cement falling sharply in today’s trading session. The stock closed at N210, down 5.83%. The stock accounts for about a third of the total market capitalisation on the NSE.
Top Gainers and Losers
Law Union and Rock Insurance Plc was the best performing stock in today’s trading session. The stock closed at N0.60, up 9.09%. Skye Bank Plc followed closely, appreciating by 8.93% to close at N0.61. Jaiz Bank plc rounds up the top three gainers, closing at N0.53, up 6%.
On the flip side, Universal Insurance Plc was the worst performing stock today. It closed at N0.27, down 10%. Cement Company of Northern Nigeria (CCNN) was next, declining by 9.87% to close at N27.85. Fidelity Bank Plc rounds up the top three losers, falling by 9.58% to close at N1.51.
Top Trades by Volume
Access Bank was the highest traded stock by volume as 46.8 million shares valued at N368 million were traded in 157 deals.
FBN Holdings was next with 22.6 million shares valued at N194 million traded in 300 deals.
Transcorp rounds up the top three most traded stocks by volume with 19.6 million shares valued at N22.1 million traded in 140 deals.
Notable Trade: 18.7 million Dangote Cement shares valued at N3.9 billion traded in 59 deals.
Courteville Business Solutions Plc
The Board of Directors of Courteville Business Solutions Plc have unanimously approved the appointment of Afam Edozie as the substantive Chairman of the company’s Board of Directors.
Edozie succeeds Capt. M.O Salami (Rtd), who retired from the board with effect from June 29, 2018.
Notore Chemical Industries Plc
Notore Chemical Industries Plc has announced the appointment of Ohis Ohiwerei as Group Deputy Managing Director (DMD) and Chief Financial Officer (CFO), effective September 17, 2018.
Femi Agbaje, the current Chief Financial Officer, will retire effective September 17, 2018, but remain on the board as a Non-Executive Director.
The company also disclosed that maintenance on its ammonia plant would commence on the 14th of September 2018. The exercise is expected to last between 15-20 days and will enhance the plant’s production capacity.
E-Tranzact International Plc
The Nigerian Stock Exchange has reclassified E-Tranzact International Plc (ETranzact) from a Medium Priced Stock to Low Priced Stock effective today.
The change is in line with the NSE’s amended rules on pricing and par value.
JAPAULGOLD, STERLNBANK surge, GUINNESS plunges
The All-Share Index decreased by -0.29% to close at 38,601.83 from 38,712.55 index points.
The Nigerian Stock Exchange market made another bearish run at the end of the trading session. The All-Share Index decreased by -0.29% to close at 38,601.83 from 38,712.55 index points.
- The Nigerian Stock Exchange market value currently stands at NGN 20.26Tr. Its Year-to-Date (YTD) returns currently stands at -4.14%.
- The market closed beneath expectation as JAPAULGOLD led 15 Gainers, and GUINNESS topped the chart of 18 Losers with a noticeable bearish movement by the NSE ASI.
- JAPAULGOLD up +8.70% to close at N0.75
- NAHCO up +7.39% to close at N 2.18
- STERLNBANK up +7.14% to close at N1.80
- STANBIC up +5.75% to close at N46.00
- CHAMS up +5.00% to close at N0.21
- GUINNESS down -9.91% to close at N24.10
- TRIPPLEG down -9.72% to close at N0.65
- NCR down -9.68% to close at N2.52
- CHAMPION down -9.09% to close at N2.00
- JAIZBANK down -7.69% to close at N0.60
Analysts’ predictions of a recovery in the market were halted by another bearish trend at the end of the trading session on Tuesday, though there is strong optimism that a recovery from the financial and consumer sectors will push the NSE-ASI back to profit.
Nairametrics advises cautious participation in the stock market in this era of growing uncertainties.
Japaul Gold mines gold for investors, as shares return N751 million for investors in two days
Japaul Gold shares deliver 19.05% gains in two trading sessions on the floor of the NGX.
Japaul Gold continues to excite investors as the shares of the gold exploration company gained an additional 8.7% during today’s session on the Nigerian Stock Exchange (now NGX), to close higher at N0.75 per share.
The 8.7% increase in the company’s share price today extended the total returns to all shareholders from their investments in the company’s shares to N752 million in just two trading sessions.
These gains have seen the market capitalization of the rebranded company with a key focus on exploration increase from N3.95 billion to N4.70 billion in two days.
Data tracked on the NGX website (previously NSE), from the market close last week Friday till the close of trade today revealed that the share price of Japaul Gold and ventures surged by 19.05%, from N0.63 per share to N0.75 per share.
In case you missed it
Nairametrics reported last week that Japaul Gold took the market by surprise in the first active trading week in the month of April, as the shares of the rebranded company surged by a whopping 40%, to lift the company’s capitalization by about N1.38 billion.
- Prior to the move up to N0.63 per share at the close of trade last week, the shares of Japaul Gold bottomed at N0.41 on the 31st of March 2021.
- This move presented bargain hunters with the golden opportunity to benefit from the upward price swings in the company’s shares.
What you should know
- The shares of the rebranded and restructured company with a new focus on Gold exploration as its new name suggests, rallied to a record 52-week high of N1.67 this year, on the 18th of January, 2021.
- At the current price, shares of Japaul Gold are trading 20.97% higher than what the company’s shares sold for at the close of trading activities on the 31st of December 2021.
Nairametrics | Company Earnings
Access our Live Feed portal for the latest company earnings as they drop.
- Friesland Campina Wamco Nigeria Plc announces AGM, proposes dividend of N6.74 per share.
- ETI appoints Akin Dada as Group Executive, Corporate & Investment banking.
- Union Homes REIT proposes final dividend worth N465.03 million for shareholders.
- GT Bank Plc holds FY 2020 investors presentation.
- Cornerstone Insurance Plc notifies stakeholders of late submission of financial statements.