NSE opens in the red as Access Bank denies rumours

The Nigerian Stock Exchange began today’s trading on a negative note, as the All Share Index closed at 32,143.41 basis points, down 0.18%. Year to date, the index is down 15.95%.

Top Gainers and Losers 

Regency Alliance Insurance was the best performing stock today. The stock gained 10% to close at  N0.22. Union Diagnostics and Clinical Services was next with an 8.00% gain to close at N0.27. Flourmill rounds up the top three gainers with a 7.14% gain to close at N16.50.

On the flip side, Abbey Building Society was the worst performing stock today. The stock declined by 9.40% to close at N1.06.

Diamond Bank was next with a 9.38% drop to close at N1.16. NEM Insurance rounds the top three losers with a 8.21% decline to close at N2.57.

Top Trades by Volume 

Diamond Bank Plc was the most actively traded stock by volume. 32.2 million shares valued at N37.6 million were traded in 276 deals.

The large volumes may be connected to rumours Access Bank may be interested in acquiring the bank. The two banks have since issued statements denying such.

Guaranty Trust Bank was next with 19.9 million shares valued at N738 million traded in 225 deals. UBA rounds up the top three most actively traded stocks with 16 million shares valued at N128 million traded in 135 deals.

Corporate Actions

Access Bank refutes rumours

Access Bank Plc issued a press statement, refuting reports it was in talks with Diamond Bank, over an acquisition of the latter. Diamond Bank has also stated no such talks took place.