NSE closes up as Zenith bank releases Q3 results

Nigerian Stock Exchange ended today’s trading session on a positive note. The All Share index closed at 32,664.63 basis points, up 0.70%.  Year to date, the index is down 14.59%

Top Gainers and Losers 

Law Union and Rock Insurance Plc was the best performing stock today. The stock closed at 6.38%, at N0.50. Prestige Assurance closed at N0.52, up 6.12% Consolidated Hallmark Insurance closed at N0.29, up 3.57%.

Top Losers 

Vitafoam Plc, was the worst performing stock today. The stock closed at N3.15, down 10%.  C and I Leasing closed at N2.71, down 9.67%. UAC Properties closed at N1.63, down 9.44%.

Top Trades by Volume 

Guaranty Trust Bank was the most traded stock by volume today. 54.8 million shares valued at N2.0 billion in 164 deals. Zenith Bank was next with 37.1 million shares valued at N842 million were traded in 240 deals. First Bank rounds up the top three with 10.9 million shares valued at N100 million traded in 199 deals.

Corporate Actions

Zenith Bank 

Zenith Bank released its results for the 9 months ended September 30, 2018.

Gross Earnings fell from N531 billion in 2017 to N474 billion in 2018. Profit before tax, however, rose from N152 billion in 2017 to N167 billion in 2018. Profit after tax also increased from N129 billion in 2017 to N144 billion in 2018.

Transnationwide Express 

Transnationwide Express released its results for the third quarter ended September 30, 2018. Revenue increased from N534 million in 2017 to N573 million in 2018. Profit before tax jumped from N8.9 million in 2017 to N23 million in 2018. Profit after tax also surged from N6.4 million in 2017 to N18 million in 2018.