Bonds, CBN
Nigerian Stock Exchange Trading Floor

The Christmas rally may have begun today as the Nigerian Stock Exchange (NSE) ended today’s trading session on a very positive note. The All Share Index closed at 31,967.01 points, up 3.88%. Year to date, the index is down 16.41%.

Top Gainers and Losers 

Stanbic IBTC was the best performing stock today, gaining 10% to close at N50.60. Dangote Sugar also appreciated by 10% to close at N15.40. Diamond Bank also continued its rally with 10% to close at N1.65.

On the flip side, Guinea Insurance was the worst performing stock today. The stock shed 8% to close at N0.23. Tantalizers declined by 4.76% to close at N0.20. John Holt rounds up the top three losers dropping, dropping by 2.22% to close at N0.44.

Top Trades by Volume  

NEM Insurance was the most actively traded stock today. 508 million shares worth N1.5 billion were traded in 62 deals. Medview Air was next with 54.7 million shares valued at N98 million traded in 4 deals. Guaranty Trust Bank rounds up the top three most traded stocks today with 26 million shares valued at N892 million traded in 202 deals.

Corporate Actions

Continental Reinsurance

Continental Reinsurance has announced the retirement with immediate effect, its company secretary Abimbola Falana.

Ms. Patricia Ifewulu will be taking over the role of Ag. Company Secretary effective January 1, 2019.

Great Nigeria Insurance

The NSE has approved the delisting application made by Great Nigeria Insurance subject to GNI Plc’s evidence of opening an escrow account in the registrar’s name and evidence that shareholders who have accepted to exit have been paid.

Subsequently, GNI Plc has opened an escrow account with GTL Registrars and Data Solutions Limited and provided sufficient funds to shareholders who as at October 24, 2018, have accepted the Exit Consideration of N0.50 per share.

The amount was based on the highest price of N0.50 at which GNI Plc traded in the last 6 months preceding the date of the AGM/EGM where the resolution to de-list was passed.

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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