The Nigerian Stock Exchange closed the week on a bearish note as the All Share Index closed at 35,446.47 basis points, down 2.89%. Year to date, the index is down 7.31%.

20 equities appreciated in price during the week, lower than 34 in the previous week. 47 equities depreciated in price from 48 equities of the previous week, while 103 equities remained unchanged, higher than 87 equities recorded in the preceding week.

Here are the top gainers and losers for the week:

Gainers

Neimeth International Pharmaceuticals Plc

Neimeth International Pharmaceuticals was the best performing stock this week. The stock opened at N0.60 and closed at N0.80, up N0.20 or 33.33%. Year to date, the stock is up 6.67%.

Niger Insurance Plc

Niger Insurance Plc opened at N0.30 and closed at N0.39, up 30%. Year to date, the stock is down 22%. The NSE earlier in the year moved the minimum price floor from N0.50 to N0.10, then N0.20. This led to many penny stocks trading at N0.50 to fall, before recovering.

Newrest ASL Nigeria Plc

Newrest ASL gained 10% this week. The stock opened at N4.50 and closed at N4.95. Year to date, the stock is down 16.81%.

Eterna Plc

Eterna Plc opened the week at N6.00 and closed at N6.55, up 8.26%. Year to date, the stock is up 61.33% and is the best performing oil and gas stock.

Livestock Feeds Plc

Livestock Feeds appreciated by 6.49%. The stock opened at N0.64 and closed at  N0.69, up N0.05 or 7.81%. Year to date, the stock is down 16.87%.

Consolidated Hallmark Insurance

Consolidated Hallmark Insurance opened at N0.30 and closed at N0.32, up N0.02 or 6.67%. Year to date, the stock is down 36%.

UAC Property Development Company Plc

UPDC gained 5.88%. The stock opened at N1.70 and closed at N1.80, up N0.10. Year to date, the stock is down 35.48%.

The company this week announced several board changes.  Larry Ettah, the Chairman stepped down, with Babatunde Kasali appointed as his replacement. Folasope Aiyesimoju was appointed Chief Executive Officer (CEO). Awuneba Ajumogobia was appointed Non-Executive Director. Adeniun Taiwo, who had been the Acting Managing Director, was appointed Chief Operating Officer (COO).

International Breweries Plc

International Breweries opened at N30.50 and closed at N32 up 4.92% Year to date, the stock is down 41.2%.

Unity Bank Plc

Unity Bank gained 4.76% during the week. The stock opened at N0.84 and closed at N0.88. Year to date, the stock is up 66.04% and is the best performing stock in the banking sector.

UACN Plc

UAC of Nigeria Plc rounds up the top gainers for the week with a 3.59% gain. The stock opened at N12.55 and closed at N13.00, up N0.45. Year to date, the stock is down 23.08%.

Losers

Secure Electronic Technology

Secure Electronics Technology, formerly known as NSL Tech, was the biggest loser this week. The stock opened at N0.36 and closed at N0.29, down N0.07 or 19.44%. Year to date, the stock is down 42%.

Cornerstone Insurance Company Plc

Cornerstone Insurance Plc depreciated by 13.79% during the week. The stock opened at N0.29 and closed at N0.25, down N0.04. Year to date, the stock is down 50%.

The company this week released its audited financial statements for the 2017 financial year, as well as Q1 and Q2 2018 results.

Gross premium written increased from N5.5 billion in 2017 to N7.1 billion in 2018. The company made a loss before tax of N415 million in 2018, as against a loss before tax of N866 million in 2017.

Ikeja Hotels Plc

Ikeja Hotels opened the week at N3.13 and closed at N2.79, down 10.86%. Year to date, the stock is up 56.74% and is the best performing stock in the hospitality segment.

Mutual Benefits Assurance Plc

Mutual Benefits Assurance lost 10.81% during the week. The stock opened at N0.37 and closed at N0.33, down N0.04. Year to date, the stock is down 34%.

The company’s N2 billion rights issue has opened.

Linkage Assurance Plc

Linkage Assurance opened at N0.80, and closed at N0.72, down N0.08 or 10%. Year to date, the stock is up 9.09%.

Law Union and Rock Insurance Plc

Law Union and Rock Insurance lost 10% during the week. The stock opened at N1.00, and closed at N0.90, down N0.10. Year to date, the stock is down 16.88%.

Vitafoam Plc

Vitafoam Plc this week, fell from its year high of N3.60, to close at N3.24, down by 10% or N0.36. Year to date, the stock is up 8%.

GSK Consumer Nigeria Plc

GSK Consumer opened at N17.00 and closed at N15.30, down N1.70 or 10%. Year to date, the stock is down 29.20%.

CAP Plc

Chemical and Allied Products (CAP) Plc closed the week’s trading session at a year low. The stock opened at N31.25 and closed at N28.35, down N3.15 or 10%. Year to date, the stock is down 16.62%.

Veritas Kapital Assurance Plc

Veritas Kapital rounds up our list of losers this week with a 10% drop. The stock opened at N0.30 and closed at N0.27, down N0.03. Year to date, the stock is down 46%.

The company this week released its audited financial statements for the 2017 financial year, as well as Q1 and Q2 2018 results.

Results for the period ended June 2018 show that gross premium written increased from N1.6 billion in 2017 to N2.1 billion in 2018. Profit before tax, however, fell from N301 million in 2017 to N93 million in 2018. Profit after tax also dropped from N244 million in 2017 to N65 million in 2018.

What's your say?

This site uses Akismet to reduce spam. Learn how your comment data is processed.