Home Business News NSE falls sharply in the last trading session for April

NSE falls sharply in the last trading session for April

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The Nigerian Stock Exchange fell sharply in the last trading session for the month of April. The All Share Index closed at 29,159.74 basis points, down 1.23%. Year to date losses have now hit 7.22% 

Top Gainers and Losers 

Caverton Offshore Support Group (COSG) was the best performing stock today. The stock gained 10% to close at N2.97. Japaul Oil and Maritime continued its bull run as it gained 10% to close at N0.33. UAC Properties rounds up the top three gainers for the day, appreciating by 10% to close at N1.65.  

On the flip side, Cutix Plc was the worst performing stock today. The stock shed 9.76% to close at N1.85. Goldlink Insurance Plc shed 9.09% to close at N0.40. Cement Company of Northern Nigeria Plc rounds up with an 8.79% decline to close at N14.  

Top trades by Volume  

Cement Company of Northern Nigeria was the most actively traded stock today. 132 million shares valued at N1.8 billion were traded in 68 deals.  

FBN Holdings was next with 68.7 million shares valued at N497 million traded in 235 deals.  

Unilever rounds up the top three most actively traded stocks today. 50.4 million shares valued at N1.5 billion were traded in 32 deals. 

Corporate Actions 

Nestle Nigeria Plc today released its results for the first quarter ended March 2019. Revenue rose by 5% to N70 billion. Profit before tax rose by 40% to N19.1 billion. Profit after tax jumped by 49% to N12.8 billion.  

Seplat Petroleum released its results for the first quarter ended March 2019. Revenue fell from N55.2 billion in 2018 to N48.9 billion in 2019. Profit before tax fell sharply from N17.9 billion in 2018 to N5.9 billion in 2019. Profit after tax however rose (due to a tax credit of N4 billion) from N6.2 billion in 2018 to N10 billion in 2019.  

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