NSE extends losing streak for 4th day

The All Share Index shows no sign of relenting in a downward plunge as the All Share Index fell 1.29% to close at 34,618.43 basis points. Year to date, the index is down 9.43%.

Sunu Assurance Plc (formerly Equity Assurance Plc) was the best performing stock in Thursday’s session. The stock gained 10% to close at N0.22. Portland Paints and Products Plc closed at N2.47, up 9.78%. Linkage Assurance Plc closed at N0.74 up 8.82%.

On the flip side, Newrest ASL was the worst performing stock, dropping by 10% to close at N4.05. Neimeth International Pharmaceuticals Plc shed 9.59% to close at N0.66. Skye Bank Plc depreciated by 8.77% to close at N0.52.

UBA Plc was the most traded stock in today’s trading session. 36.5 million Shares valued at N319 million were traded in 224 deals.  Next was Guaranty Trust Bank Plc which traded 23.4 million shares valued at N892 million in 165 deals. First Bank rounds up the top 3 most traded with 20.9 million shares valued at N203 million traded in 194 deals.

Meanwhile, Stanbic IBTC releases results for the six months ended June 2018. Gross Earnings increased from N97.1 billion in 2017 to N114 billion in 2018. Profit before tax jumped from N29 billion in 2017 to N50.7 billion in 2018. Profit after tax also rose from N24.1 billion in 2017 to N43 billion in 2018.

An interim dividend of N1 has been declared. Qualification date for the dividend is August 28, 2018. The register of shareholders will be closed from Wednesday 29 August 2018 to Tuesday, 4 September 2018. Payment date is Wednesday 26th September 2018.

Shareholders can also opt for a scrip dividend (shares) rather than cash dividends.