Investors lose N713 billion in Nigerian Stock Exchange, Bargain hunting in stock market

The Nigerian Stock Exchange retraced the gains made on Friday as the All Share Index closed at 32,201.98, down 0.39%. Year to date, the index is down 15.80%.

 Top Gainers and Losers 

CI Leasing Plc was the best performing stock in today’s session. The stock appreciated by 8.62% to close at N3.15. Forte Oil closed at N19.00, up 8.57%. Prestige Assurance rounds up the top 3 traders with an 8.33% gain to close at N0.52.

On the flip side, Champion Breweries Plc was the worst performing stock today, declining by 10% to close at N1.62. Redstar Express Plc fell by 9.17% to close at N4.95. Royal Exchange Plc rounds up the top 3 losers with an 8.70% decline to close at N0.21

 Top Trades by Volume  

The top three trades by volume were all from the banking sector. Access Bank was the highest traded stock by volume as 24 million shares valued at N185 million were traded in 127 deals. Guaranty Trust Bank was next with 23.6 million shares valued at N805 million in 216 deals. Skye bank rounds up the top three with 14.9 million shares valued at N9.2 million traded in 109 deals.

Corporate Actions

RT Briscoe Plc

R.T. Briscoe Nigeria Plc, have appointed Olorunfemi A. Eguaikhide and Jubril Adetokunbo Shittu as the company’s Chief Operating Officer (COO) and Acting Chief Financial Officer (CFO) respectively.

LASACO Assurance Plc

LASACO Assurance Plc has joined the league of insurance companies queuing to raise capital. The company gave a hint of this in a notice it sent to the Nigerian Stock Exchange (NSE) informing it of its plans to hold an Extra Ordinary General Meeting (EGM) on the 10th of October 2018. 

Notable event: UAC of Nigeria Plc dipped to a new 5 year low of N9.90 per share in intraday trading today.  

 

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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