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Tier two banks take the shine as NSE bounces back


The Nigerian Stock Exchange closed today’s trading on a positive note, recovering a large chunk of gains lost yesterday. The All Share Index closed at 32,228.50 basis points, up 0.38%. Year to date, the index is down 15.73%

Top Gainers and Losers 

Unity Bank Plc was the best performing stock today. The stock closed at N0.71 up 9.23%. Union Bank closed at N5.30, up 8.16%. First Aluminum Plc rounds up the top three gainers closing at N0.35, up 6.06%.

On the flip side, Cement Company of Northern Nigeria was the worst performing stock today. The stock fell by 9.88% to close at N18.25. Pharmadeko closed at N1.52, down 9.52%. Flour Mills rounds up the top three losers closing at N15.25, down 9.23%.

Top Trades by Volume 

As usual, the top three most actively traded stocks were from the banking sector. Access Bank led the trio with 81.2 million shares valued at N649 million traded in 85 deals. FBN Holdings was next with 31.7 million shares valued at N235 million traded in 240 deals. FCMB rounds up the top three with 10.5 million shares valued at at N17.7 million traded in 87 deals.

Corporate Actions 

Berger Paints Plc  

Berger Paints Plc announced the resignation of a Non-Executive Director, Wole Abegunde effective October 25, 2018. Abegunde, the Group Managing Director of Meristem Securities Limited is stepping down due to constraints from his demanding schedule.

Academy Press Plc  

Academy Press Plc released its results for the second quarter ended September 30, 2018. Revenue dropped from N1.2 billion in 2017 to N1.1 billion in 2018. The company’s losses, however, increased from N4.3 million in 2017 to N85.1 million in 2018.




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