This week’s trading on the Nigerian Stock Exchange (NSE) closed on a positive note. The All Share Index opened at 29,830.70 basis points and closed at 31,005.17 basis points, up 1,174.47 or 3.94%. Year to date, the index is in the red, down 1.35%.
38 equities appreciated in price during the week, higher than 22 in the previous week. 29 equities depreciated in price, lower than 44 of the previous week, while 102 equities remained unchanged, lower than 103 equities recorded in the preceding week.
Top Gainers
NEM Insurance Plc
NEM Insurance Plc was the best performing stock this week. The stock opened at N1.73 and closed at N2.48, up N0.75 or 43.35%. Year to date, the stock is down 8.15%.
The company yesterday announced that AFIG funds, a private equity firm, had taken up a 30% stake. AFIG is now the single largest individual shareholder.
The stake, from all indications, could be shares sold by VFD Group and several investors.
Sovereign Trust Insurance Plc
Sovereign Trust Insurance gained 30% this week. The stock opened at N0.20 and closed at N0.26, up 30%. Year to date, the stock is up 23.81%.
The company, through its stockbroker, Dynamic Portfolio Limited, submitted an application to the Nigerian Stock Exchange for the approval and listing of a rights issue of 4,170,411,648 ordinary shares of N0.50 each at N0.50 per share, on the basis of 1 new share for every 2 ordinary shares held.
The qualification date for the rights issue was Tuesday, 15 January, 2019.
Royal Exchange Plc
Royal Exchange Plc opened at N0.21 and closed at N0.27 this week, up N0.06 or 28.57%. Year to date, the stock is up 22.73%.
Cement Company of Northern Nigeria Plc
CCNN (also known as Sokoto Cement) gained 25.50% this week. The stock opened at N20 and closed at N25.10, up N5.10. Year to date, the stock is up 29.38%.
Custodian Investment Plc
Custodian Investment opened at N5.30 and closed at N6.45, up N1.15 or 21.70%. Year to date, the stock is up 14.16%.
Union Bank of Nigeria Plc
Union Bank of Nigeria appreciated by 12.50% this week. The stock opened at N6 and closed at N6.75, up N0.75. Year to date, the stock is up 20.5%.
Dangote Cement Plc
Dangote Cement opened the week at N177 and closed at N194.90, up N17.90, or 10.11%. Year to date, the stock is up 2.74%.
Regency Alliance Plc
Regency Alliance Plc gained 10% this week. The stock opened at N0.20 and closed at N0.22, up N0.02. Year to date, the stock is up 4.76%.
Unity Bank Plc
Unity Bank Plc opened at N0.83 and closed at N0.91 this week, up N0.08 or 9.64%. Year to date, the stock is down 14.95%.
Ikeja Hotels Plc
Ikeja Hotels rounds up the top 10 gainers for the week with a 9.35% gain. The stock opened at N1.39 and closed at N1.52 up N0.13. Year to date, the stock is down 0.65%.
Top Losers
Resort Savings and Loans Plc
Resort Savings and Loans Plc was the worst performing stock this week. The stock shed 29.73%, opening at N0.37 and closing at N0.26, down N0.11. Year to date, the stock is down 48%.
Beta Glass Plc
Beta Glass Plc opened at N67 and closed at N55, down N12 or 17.91%. Year to date, the stock is down 19.47%.
Linkage Assurance Plc
Linkage Assurance declined by 13.85% this week. The stock opened at N0.65 and closed at N0.56, down N0.09. Year to date, the stock is down 22.22%.
Berger Paints Plc
Berger Paints opened at N8.60 and closed at N7.75, down N0.85 or 9.88%. Year to date, the stock is down by the same margin.
Etranzact International Plc
Etranzact International Plc dropped by 9.87% this week. The stock opened at N3.95 and closed at N3.56, down N0.39. Year to date, the stock is down by the same margin.
The company had this week held an Extra Ordinary General Meeting (EGM) to obtain shareholders approval to raise N7 billion fresh capital. It has yet to issue a notice pertaining to the outcome.
Newrest ASL Plc
Newrest ASL opened at N7.90 and closed at N7.15, down N0.75 or 9.49% this week. Year to date, the stock is down by the same margin.
Livestock Feeds Plc
Livestock Feeds shed 9.43% this week. The stock opened at N0.53 and closed at N0.48, down N0.05 or 9.43%. Year to date, the stock is down 2.04%.
Northern Nigeria Flour Mills
Northern Nigeria Flour Mills (a subsidiary of Flour Mills of Nigeria Plc) opened the week at N4.35 and closed at N3.95, down N0.40 or 9.20%. Year to date, the stock is down 17.71%.
Cornerstone Insurance Plc
Cornerstone Insurance Plc fell by 9.09% this week. The stock opened at N0.22 and closed at N0.20, down N0.02. Year to date, the stock is flat.
Wapic Insurance Plc
Wapic Insurance Plc rounds up the top 10 losers for the week. The stock opened at N0.44 and closed at N0.40, down N0.04 or 9.09%. Year to date, the stock is down 4.76%.