NSE closes red for third day in a row

The Nigerian Stock Exchange closed in the red for the third day in a row. The All Share Index closed at 31,145.34 basis points, down 0.11%. Year to date, the index is down 0.91%

Cornerstone Insurance was the best performing stock today, gaining 10% to close at N0.22. Mutual Benefits Assurance was next. The stock also gained 10% to close at N0.22. ABC Transport Plc rounds up the top three gainers for the day. The stock gained 9.68% to close at N0.34.

On the flip side, Newrest ASL was the worst performing stock today. The stock shed 9.79% to close at N6.45. LASACO Assurance was next declining by 9.38% to close at N0.29. Mc Nichols Plc rounds up the top three losers for the day. The stock fell by 9.09% to close at N0.30.

Zenith Bank was the most actively traded stock today. 56.3 million Shares valued at N1.2 billion were traded in 270 deals. Access Bank was next with 36.1 million shares valued at N218 million traded in 300 deals. Sterling Bank rounds up the top three most actively traded stocks today, with 32.2 million shares valued at N75.5 million traded in 98 deals.

Meanwhile, University Press Plc has released its results for the nine months ended December 30, 2018. Revenue increased from N1.7 billion in 2017 to N2.2 billion in 2018. Profit before tax also rose from N361 million in 2017 to N375 million in 2018. Profit after tax also rose from N217 million in 2017 to N263 million in 2018.

Similarly, Ellah Lakes Plc in a notice to the NSE has informed it of the settlement of a N589 million debt owed JW Ellah and sons Limited.

In return for the settlement, the company has assigned its interest in a plot of land located at Obrikom, Ahoada local government to the lender. This is the first step in the restructuring of the company’s balance sheet. The exercise is expected to be completed within the first quarter of 2019.

RAK Unity has released its results for the financial year ended December 2018. Revenue fell from N10.3 billion in 2017 to N9.5 billion in 2018. Profit before tax also dropped from N45.2 million in 2017 to N39.3 million in 2018. Profit after tax also declined from N30.3 million in 2017 to N29.4 million in 2018.

Notore Chemical industries Plc has released its results for the first quarter ended December 2018. Revenue fell from N5.9 billion in 2017 to N4.3 billion in 2018. Loss before tax stood at N93 million in 2018 compared to a loss before tax of N1.9 billion recorded in 2017

Access Bank Plc has announced the resignation of its Executive Director Business banking Titi Osuntoki effective March 18, 2019.