NSE LIVE: Nigerian bourse closes bearish despite earnings from blue chip companies | Ripples Nigeria
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NSE LIVE: Nigerian bourse closes bearish despite earnings from blue chip companies



downward graph

The Nigerian Stock Exchange (NSE) closed Tuesday’s trading on a bearish note despite earnings from NSE 30 companies, eroding more than the gains from yesterday’s trading session. The All Share Index closed at 26244.39 basis points, down by 0.53%. Year to date the market is down by 16.50%.

Top 5 losers

Chams Plc and University Press led the losers with a bad performance of -4.35%, closing at N0.22 and 1.10 respectively. NAHCO Aviance followed with a 4.08% loss to close at N2.35.

Lafarge Africa shed 4.01% to close at N14.35. This is not unrelated to the not so impressive Q3 2019 financial statement. The company is just returning to profitability when compared to its Q3 2018 results.

GTBank rounds up the top 5 losers with a 2.67% loss to close at N25.50.

Top 5 gainers

Red Star Express led the gainers’ chart with a 9.88% gain to close at N4.45. The gains can be attributed to the company’s good performance for its financial statement for the half-year period ended September 2019. Profit after tax rose marginally by 1.6%.

Cornerstone Insurance remained in the gainers’ chart with a 9.76% to close at N0.45. We told you to watch out for this stock this week in our stock watchlist.

AIICO Insurance closed at N0.69, gaining 9.52%. Glaxo SmithKline Consumer Nigeria closed at N6.30, gaining 8.62%. The company posted a 21% increase in profit for its financial statement for the 9 months period ended September 30, 2019.

Union Diagnostic and Clinical Services gained 4.17% to round up the top 5 gainers, closing at N0.25.

Top 5 trades

Tuesday’s trading session witnessed 267.9 million shares valued at N2.8 billion traded in 2,967 deals.

Banks dominated the top 5 trades by volume today. FCMB led the pack with 51.6 million shares worth N82.5 million traded in 36 deals. Zenith Bank followed with 43.1 million shares valued at N732 million traded in 386 deals.

42.3 million GTBank shares worth N1.1 billion were traded in 274 deals. Access Bank traded 37.2 million shares valued at N272 million in 178 deals.

Sterling Bank rounds up the top 5 trades by volume with 34.8 million shares valued at N67.99 million traded in 420 deals.

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