The Nigerian Stock Exchange jumped up sharply in today’s session. The All Share Index closed at 30,460.68 basis points, up 1.07%. Year to date, the index is down 3.09%
The rebound was largely due to the appreciation in the share price of Dangote Cement Plc. The stock which accounts for about a third of the entire market capitalization, gained 4.44% to close at N188.
Top Gainers and Losers
Sovereign Trust Insurance was the best performing stock today. The stock gained 10% to close at N0.22. Veritas Kapital Assurance was next. The stock added 10% to close at N71. Guinness Nigeria rounds up the top three gainers for the day. The stock appreciated by 9.65% to close at N71.
On the flip side, Beta Glass was the worst performing stock today. The stock shed 10% to close at N60.23. Northern Nigeria Flour Mills shed 9.20% to close at N3.95. Resort Savings and Loans rounds up the top three losers for the day. The stock fell by 8.82% to close at a 5 year low of N0.31.
Top Trades by Volume
Diamond Bank was the most actively traded stock today. 141 million shares valued at N364 million traded in 226 deals. Fidelity Bank was next with 18.4 million shares valued at N37 million traded in 128 deals.
Guaranty Trust Bank rounds up the top three most actively traded for the day with 17.3 million shares valued at N576 million traded in 292 deals.
Corporate Actions
Forte Oil Plc
Forte Oil Plc, in a notice, sent to the Nigerian Stock Exchange today stated it would hold an Extra Ordinary General Meeting next month. Agenda is to obtain shareholders approval for the firm to enter into discussions with its entities representing Chairman Femi Otedola.
Otedola has expressed his intentions to purchase assets Forte has put up for sale namely its upstream unit, Ghanaian operations, and the company’s stake in the Geregu power plant.
The assets will, however, be independently valued, and the transaction conducted on an arm’s length basis.
Stanbic IBTC Holdings
The company’s board of directors will meet on Thursday 31 January 2019 at 10:00 am. The meeting will discuss amongst other items, the Company’s Consolidated and Separate Audited Financial
Statements for the year ended 31 December 2018.
The company’s closed period which commenced on the 19th of November 2018, remains ongoing.
Julius Berger Plc
The company’s board of directors will be meeting on Wednesday, January 30, 2019, to consider its full-year 2018 results.
The construction giant will commence a closed period from January 17, 2019, to January 31, 2019.