The equities market took a hit Wednesday with the All Share Index (ASI) dropping massively by 3.46% to close at 32,292.79 basis points. Total market value of transactions executed amounted to about N6.93 billion involving exchange of 246,880,477 units of shares in a total of 3,823 deals. Instructively, only NSE OIL/GAS index out of all sectoral indices that recorded movements appreciated. In tandem with the overall market sentiments, Market Capitalization moved from the N12 trillion plus mark it’d held on since Friday, the 10th day of August, 2018 to close at N11.789 trillion today; having closed at N12.211 trillion on Tuesday.
A paltry 9 equities rallied Wednesday with LAW UNION & ROCK INSURANCE PLC at the apex with a gain of 9.09%. Other top advancers were SKYE BANK 8.93%; JAIZ BANK 6.00%; WEMA BANK 5.26%; and JAPAUL OIL 4.55%. On the reverse side, UNIVERSAL INSURANCE PLC with a loss of 10.00% led a total of 31 laggards. Other top losers include CCNN 9.87%; FIDELITY BANK 9.58%; LASACO ASS. 9.09%; and STANBIC IBTC & DIAMOND BANK 8.89%.
With a total of 46,154,893 units of its shares traded, ACCESS BANK PLC today emerged the highest traded equity by volume terms. Other top trades in the same category were FBN HOLDINGS 22,604,387; TRANSCORP 19,674,246; DANGOTE CEM 18,704,802; and ZENITH BANK 16,947,596.
The Market was informed of the reclassification of E-TRANZACT INTERNATIONAL PLC from medium priced stock group of the Exchange to low priced stock group in line with Nigerian Stock Exchange’s pricing methodology framework.
Price Adjustments were effected on ACCESS BANK PLC and UBA PLC to the tune of N0.25 & N0.20 respectively, on the back of recent cash dividends of the same amounts as declared by their Board of Directors.
R.T. BRISCOE PLC submitted its unaudited Q1 & Q2 financial statements for the periods ended March 31, 2018 & June 30, 2018 respectively, with these highlights:
Q1: Revenue (REVN) N894.11m; Profit Before Tax (PBT) (N809.98m); and Profit After Tax (PAT) (N809.98m).
Q2: REVN. N2.37b; PBT (N1.53b); and PAT (N1.53b).
– Emeka Okolo