Access Bank hits year low as bears remain in play

Nigerian Stock Exchange Trading Floor

The bears continue to maintain a stronghold on the Nigerian Stock Exchange, as trading ended in the red for the third day in a row. The All Share Index closed at 31,023.47 basis points, down 0.48%. Year to date, the index is down 17.28%

Top Gainers and Losers 

Continental Reinsurance Plc was the best performing stock today. The stock appreciated by 10% to close at N1.87. May and Baker was next with a 9.96% gain, closing at N2.54. Cutix Plc rounds up the top three gainers, appreciating by 9.64% to close at N1.82.

Bua group

On the flip side, Diamond bank was the worst performing stock today. The stock continued to breach new lows, closing at a new 5 year low of N0.73. NEM Insurance was next with 8.85% decline, closing at N2.37. Wema Bank rounds the top 3 losers for the day, falling by 8.77% to close at N0.52.

Top Trades by Volume 

The top three most actively traded stocks were all from the banking sector. Access Bank led the pack with 54.1 million shares valued at N385 million traded in 122 deals. The bank today hit a year low of N7.

FCMB was next with 31.5 million shares valued at N45.7 million traded in 97 deals. Diamond Bank rounds up the list with 16.6 million shares valued at N12.6 million traded in 138 deals.

Corporate Actions

Seplat Petroleum

Seplat Petroleum today sent a notice to the NSE, informing the bourse that its Chairman A.B.C. Orjiako had sold 1.2 million of his shares in the company.

The shares sold were registered in the name of Vitol Energy Limited held for the benefit of Shebah Petroleum Development Company Limited, which is an entity controlled by ABC Orjiako and members of his family.


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