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Stock Market

Nigerian Stock Exchange ends 2018 in the red

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NSE, Stock

The Nigerian Stock Exchange ended the last trading day in 2018, on a positive note. The All Share Index closed at 31,430.50 basis points, in today’s trading session, up 1.27%.

Year to date, the index ended in the red, down 17.81%

Top Gainers and Losers 

Vitafoam Nigeria Plc was the best performing stock today. The gained 10% to close at a year high of N4.40, as investors take position following positive FY 2018 results, and dividends declared.

Champion Breweries was next with adding 9.94% to close at N1.99. Diamond Bank gained 9.55% to close at N2.18.

On the flip side, Stanbic IBTC was the worst performing stock today. The stock shed 9.95% to close at N47.95. Forte Oil fell by 9.92% to close at N28.70. Neimeth International Pharmaceuticals rounds the top three losers for the day shedding 9.30% to close at N0.78.

Top Trades by Volume 

Union Diagnostic and Clinical Services Plc was the most actively traded stock today. 267 million shares valued at N66.3 million were traded in 8 deals. Diamond Bank was next with 220 million shares valued at N476 million traded in 449 deals. NEM Insurance rounds up the top three with 145 million shares valued at N391 million traded in 16 deals.

Corporate Actions

Vitafoam Plc 

Vitafoam Plc has declared a dividend of N0.25 per share for the 2018 financial year. In addition, the firm has proposed a bonus of 1 new share for every 5 shares held as at Friday 15th of February 2019. The new shares, however, will not qualify for the proposed dividend.

Hotflex

Shareholders register will be closed from Monday 18th to Friday 22nd of February 2019. The company will be holding its Annual General Meeting on Thursday, the 7th of March, 2019.

The company also announced the appointment of two executive directors Owoade Sola and Joseph Alegbesogie effective 18th of December, 2018.

Access Bank Plc 

The board of directors will hold a board meeting on Monday, January 28, 2019. Agenda is to consider the bank’s results for the 2018 financial year, as well as other items.

A closed period will commence from January 1, 2019, till the results are released. During this time, directors and other parties with access to sensitive information, are not allowed to trade their shares.

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 [email protected]

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      Markets

      Bullish dominance in the NGX Banking Index

      The NGX Banking Index made a bullish recovery at the end of yesterday’s trading session with an increase of +1.11%, pushing the index points to 354.25.

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      gtbank, stock market, Bulls dominate Nigerian bourse ASI up 0.74%, Investors gain N77 billion., Crude oil bulls lose steam, as COVID-19 cases hit record high

      The NGX Banking Index made a bullish recovery at the end of yesterday’s trading session with an increase of +1.11%, pushing the index points to 354.25. There were 5 profits opposing 5 losses, but the magnitude of the gainers pushed the Banking Index into the green.

      Union Bank led the gainers with a profit of +0.45, pushing its price upwards from N4.95 to N5.40.

      Zenith Bank came second amongst the gainers with a profit of +1.14%, posting N22.20 from the previous day’s close of N21.95.

      Guaranty Trust Bank also closed in profits with an increase of +0.86%, leaving its price at N29.40 from its previous price of N29.00. Sterling Bank was also part of the gainers with a profit of +0.63% putting its price at N1.60 from its previous close of N1.58.

      Access Bank made profits of 0.62%, pushing its prices to N8.15 from N8.10.

      Wema Bank was the biggest loser at the end of yesterday’s trading session as it made losses of -4.92%, leaving its price at N0.58 from N0.61.

      Jaiz Bank also made losses of -3.23%, pushing its closing price to N0.63 from N0.62 obtained the previous day.

      Ecobank joined the losers, posting a loss of -1.89% which put its price at N5.20 from its previous price of N5.30.

      Fidelity Bank followed with a loss of -0.90%, putting its price at N2.24 from N2.22. UBA also posted a loss of -0.69%, pushing its price from N7.25 to N7.20.

      Outlook

      • Market sentiment tends bullish as the magnitude of gainers outweighed the losers despite the 5 gainers and 5 losers held at the end of the trading session.
      • Nairametrics advises cautious buying amid growing uncertainties.

      Continue Reading

      Markets

      Union Bank, LINKASSURE push NGX ASI into recovery

      The market breadth closed positive with the bulls as LINKASSURE led 25 Gainers, and 16 Losers topped by NEM.

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      on

      Nigerian stock exchange market made a bullish recovery on the last day of the week’s trading session. This surge was bolstered by gains made by UBN and LINKASSURE amongst others. The All-Share Index increased by +0.21% to close at 39,198.75 from 39,114.73.

      • Nigerian Stock Exchange market value currently stands at N20.48 trillion. Its Year-to-Date (YTD) returns currently stand at -2.66%.
      • The market breadth closed positive with the bulls as LINKASSURE led 25 Gainers, and 16 Losers topped by NEM, showing a hint of consolation.

      Top gainers

      1. LINKASSURE up +9.25% to close at N0.69
      2. JOHNHOLT up +9.26% to close at N59
      3. UBN up +9.09% to close at N5.40
      4. ROYALEX up +8.33% to close at N0.65
      5. CHIPLC up +8.33% to close at N0.39

      Top losers

      1. NEM down -9.50% to close at N1.81
      2. COURTVILLE down -9.09% to close at N0.20
      3. SUNUASSUR down -8.47% to close at N0.54
      4. INITSPLC down -6.98% to close at N0.40
      5. ETERNA down -6.89% to close at N5.81

      Outlook

      The market recovered from a week-long loss as it posts profit at the end of the trading session.

      • Market sentiments tend toward bullish momentum as the NGX ASI closes with 25 Gainers and 16 losers.
      • Nairametrics however, advises cautious buying in this era of growing uncertainties.

      Continue Reading

        





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