NSE All-share index depreciates further by 0.09%

Salamatu Ejembi,Lagos

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The All share index of the Nigerian Stock Exchange has further depreciated after the close of trading activities on Wednesday.

Wednesday’s loss makes it the third consecutive fall of the All Share Index, tightening the Bear’s grip on the market.

The All Share Index closed at 36,299.82 basis points falling by 33.98 basis points while the market capitalisation closed at 13,250 trillion Naira, losing 12 billion Naira or 0.09 per cent as compared to Tuesday’s closings of 36,333.80 basis points and 13,262 trillion Naira respectively.

Investors traded 1.1 million shares valued at 7.3 billion Naira in 2,610.00 deals as only 19 stocks gained, 16 stocks fell while the prices for 135 stocks remained the same.

GAINERS

UNITY BANK PLC led the gainers’ tabke with an opening price of 0.86 kobo per share to close at 0.94 kobo per share, gaining 0.08 kobo or 9.30 per cent.

SOVEREIGN TRUST INSURANCE PLC followed with an opening price of 0.23 kobo per share closing at 0.25 kobo per share, appreciating by 0.02 kobo or 8.70 per cent.

Then  NEIMETH INTERNATIONAL PHARMACEUTICALS PLC gained 0.06 kobo or 8.45 per cent after opening at 0.71 kobo per share and closing at 0.77 kobo per share.

LOSERS

Topping the losers’ chart is MUTUAL BENEFIT ASSURANCE PLC with an opening price of 0.31 kobo per share and a closing price of 0.28 kobo per share, falling by 0.03 kobo or 9.68 per cent.

Following right after is SECURE ELECTRONIC TECHNOLOGY PLC  with an opening price of 0.33 kobo per share and a closing price of 0.30 kobo per share, depreciating by 0.03 kobo or 9.09 per cent.

Then UNION DIAGNOSTIC & CLINICAL SERVICES PLC which opened for transaction at 0.39 kobo per share, closed at 0.36 kobo per share, losing 0.03 kobo or 7.69per cent.

Meanwhile, the NSE has lifted the suspension of trading activities on the shares of Conoil Plc after it submitted its Unaudited Financial Statement for the period ended 31 March 2018 with effect from today, Wednesday, 8 August 2018.

The company was placed on suspension for non-compliance with Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing, Rulebook of The Exchange (Issuers’ Rules) (“Default Filing Rules”), which provides that; “If an Issuer fails to file the relevant accounts by the expiration of the Cure Period, The Exchange will: 

(a) Send to the Issuer a “Second Filing Deficiency Notification” within two (2) business days after the end of the Cure Period; 

(b) Suspend trading in the Issuer’s securities; and 

(c) Notify the Securities and Exchange Commission (SEC) and the Market within twenty- four (24) hours of the suspension.”

Ime N