April opened on a bearish note as the NSE All-Share Index and Market Capitalization depreciated by 1.60% to close the week at 40,841.14 and ₦14.753 trillion respectively. Year to date, the index 6.79%.
Nineteen (19) equities appreciated in price during the week. Fifty-three (53) equities depreciated in price, while ninety-nine (99) equities remained unchanged.
Here are the top gainers and losers for the week.
Gainers
LASACO Assurance Plc
LASACO Assurance was the best performing stock this week, gaining 21.21%. The stock opened at ₦0.33and closed at ₦0.40. Year to date, the stock is down 20%.
LASACO recently released its FY 2017 results and declared a final dividend of ₦0.04 per share.
May & Baker Nigeria Plc
May & Baker gained 14.29% within the week, opening at ₦2.80 and closing at ₦3.20. Year to date, the stock is up 23.08%.
May & Baker this week released its financial statements for the year ended December 2017. Revenue rose from ₦8.47 billion recorded in 2016 to ₦9.35 billion in 2017. Profit before tax also grew from ₦345.9 million in 2016 to ₦605.6 million in 2017.
The directors have recommended a dividend of ₦0.20 kobo per share amounting to ₦196 million.
Law Union and Rock Insurance Plc
Law Union and Rock opened the week at ₦0.73 and closed at ₦0.82, up 12.33%. Year to date, the stock is 6.49%, having fallen from its year high of ₦0.97.
UNIC Diversified Holdings Plc
UNIC was up 11.11% or ₦0.02 this week. The stock opened at ₦0.18 and closed at ₦0.20 during the week. Year to date, however, the stock is down 60%.
AIICO Insurance Plc
AIICO Insurance gained 9.68% this week. The stock opened at ₦0.62 and closed at ₦0.68. Year to date, the stock is up 30.77%.
AIICO, late Friday, released its financial statements for the year ended December 2017. Gross premium written increased from ₦27 billion in 2016 to ₦30 billion in 2017. Profit before tax, however, fell sharply from ₦11.8 billion in 2016 to ₦3 billion in 2017. Profit after tax also dropped from ₦10.2 billion in 2016 to ₦1.2 billion in 2017.
The company also declared a final dividend of ₦0.05 per share.
African Alliance Insurance Plc
African Alliance Insurance gained 9.09% during the week. The stock opened at ₦0.22 and closed at ₦0.24. Year to date, the stock is down 52%.
Unilever Nigeria Plc
Unilever opened at ₦55 and closed at ₦59.80, up 8.73%. Year to date, the stock is up 45.85%.
Access Bank Plc
Access bank opened at ₦11.05 and closed at ₦12 up 8.60% or N0.95. Year to date the stock is up 14.83%.
Caverton Offshore Support Group Plc
Caverton opened the week at ₦2.67 and closed at ₦2.79 up 4.49% or ₦0.12. Investors have keyed into the stock in view of its decent results and announcement of a dividend.
Caverton is also one of the best performing stocks this quarter, having gained 112.68%
Prestige Assurance Plc
Prestige Assurance Plc closed up 4.44%. The stock opened at ₦0.45 and closed at ₦0.47. Year to date, the stock is down 6%.
Losers
Japaul Oil and Maritime Services Plc
Japaul was the week’s biggest loser, dropping 23.73%. The stock opened at ₦0.59 and closed at ₦0.45, down ₦0.14.
It is also 53% below its year high of ₦0.97.
Investors may have decided to offload the stock following the negative sentiments surrounding potential investor, Milost Global.
Unity Bank Plc
Unity Bank fell by ₦0.21 or 17.21% during the week. The stock opened at ₦1.21 and closed at ₦1.01. Investors may have decided to exit the stock following the termination of an agreement with Milost Global to take up a stake in the bank and the ensuing controversy. Milost alleged that it had to take the decision after being threatened by an unnamed individual.
The stock was the best performing this quarter, up 130%.
Jaiz Bank Plc
Jaiz Bank closed, down by 16.05%. The stock opened at ₦0.81 and closed at ₦0.68. The stock is currently below its year high of ₦1.23.
Jaiz bank is Nigeria’s first full-fledged non-interest bank. For the 12 months ended December 2017, non-interest income increased from ₦4.8 billion in 2016 to ₦6.3 billion. Profit before tax also increased from ₦311 million in 2016 to ₦537 million in 2017.
GSK Consumer Nigeria Plc
GSK Consumer Nigeria shed ₦5 or 14.71% this week, after 2 consecutive weeks of leading the gainers chart. The stock opened at ₦34 and closed at ₦29.00, in line with our expectations of investors exiting to take profits. GSK had recently declared a special dividend of N7.10.
Wema Bank Plc
Wema Bank opened at ₦0.99 and closed at ₦0.85, down ₦0.14 or 14.14%.
The bank is yet to release its financial statements but has promised to do so within April.
Dangote Flour Mills Plc
Dangote Flour Mills dropped ₦2.15 or 13.48% this week, closing at ₦13.80. The company declared a dividend of ₦0.20 dividend per share, after being loss making for a few years.
Sovereign Trust Insurance Plc
Sovereign Trust Insurance lost ₦0.03 or 13.04% in this week’s trading session. The stock opened at ₦0.23 and closed at ₦0.20. At its current price, it is one of the cheapest stocks on the NSE.
Unity Kapital Assurance Plc (Veritas Kapital Assurance)
Veritas Kapital Assurance dropped by ₦0.03 or 11.54% this week. The company is yet to release its financial statements for the year ended December 2017 neither has it given any guidance concerning it.
Sterling Bank Plc
Sterling Bank dropped 9.71% this week. The stock opened at ₦1.75 and closed at ₦1.58. Sterling Bank is yet to release its financial statements for the year ended December 2017. Year to date, however, the stock is up 46%.
International Breweries Plc
Inter Brew opened at ₦54.40 and closed at ₦49.15, down 9.65%. Investors may have reacted negatively to the company’s recent 9 months ended December 2017.
While revenue increased from ₦32.7 billion in March to ₦36.5 billion in December 2017, the company made a loss of ₦3.1 billion as against a Profit before tax of 2.8 billion in March 2017.
