Bears back on the NSE as Seplat drops Q3 2018 results

The Nigerian Stock Exchange close ended in the red today. The All Share Index closed at 33, 167.88 basis points, down 0.08%. Year to date, the index is down 13.27%.

Top Gainers and Losers 

Presco Plc was the best performing stock today. The stock appreciated by 105 to close at ₦58. Stanbic  IBTC was next with a 7.14% gain to close at ₦52.50. Diamond Bank rounds up the top three gainers with a 6.92% gain to close at ₦1.39.

On the flip side, Meyer Paints was the worst performing stock today. The stock declined by 9.68% to close at ₦0.56. Dangote Flour shed 9.62% to close at ₦6.65. Regency Alliance Insurance fell by 9.09% to close at ₦0.20.

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Top Trades by Volume

The top three trades by volume were from the banking sector.

Guaranty Trust Bank was the most actively traded stock today. 57.6 million shares valued at ₦2.1 billion were traded in 199 deals. Sterling Bank was next with 57 million shares valued at ₦88.3 million traded in 37 deals. FCMB rounds up the top three with 10.3 million shares valued at ₦63.6 million traded in 113 deals.

Corporate Actions 

Seplat Petroleum 

Seplat Petroleum has released its results for the third quarter ended September 30, 2018. Revenue jumped from ₦85.1 billion in 2017 to ₦173 billion in 2018. Profit before tax stood at ₦65 billion compared to a loss before tax of ₦760 million made in 2017. Profit after tax stood at ₦27.9 billion compared to a loss after tax of ₦1.6 billion in 2017.

Nestle Nigeria Plc 

Nestle Nigeria Plc has released its results for the nine months ended September 30, 2018. Revenue increased from ₦185 billion in 2017 to ₦203 billion in 2018. Profit before tax jumped from ₦34.4 billion in 2017 to ₦48 billion in 2018.  Profit after tax also surged from ₦22.9 billion in 2017 to ₦33.1 billion in 2018.

Dangote Flour Mills Plc

Dangote Flour Mills Plc released its results for the nine months ended September 30, 2018. Revenue fell from ₦100.2 billion in 2017 to ₦83.2 billion n 2018. Profit before tax fell sharply from ₦18  billion in 2017  to ₦4.4 billion in 2018. Profit after tax also dropped from ₦13 billion in 2017 to ₦3.2 billion in 2018.