In a reduced momentum, the lead performance index of The Nigerian Stock Exchange swerved further south as it closed by 42Bpts below the previous close. In other words, trading stopped on 36,165.93 point from 36,317.31. Safe NSE-Banking Index that gained, other observed market indices shed points. Week to Date, market is below opening by 131Bpts while Month to Date returns shrink further to +89Bpts. See index movement table for details.
Value loss by the market capitalization of the listed equities during today’s trading activities was N57.176 billion, same as 42Bpts below the opening value. Meanwhile, trading activities for the day produced 14 advancers and 26 lagers. NSEASI Year to Date gain is now 34.57% while the Market Capitalization Year to Date gain stood at N3.218 trillion same as 34.81% above the year’s opening value.
Though the full financial performance is yet to be released, the management of Stanbic IBTC today announced a 60k interim dividend. According to the outcome of its last full year Agm, shareholders can either collect the said dividend in cash or convert same to scrip (ordinary shares). Please note that the policy holds till 2020 from 2016. The closure date for the said dividend is 7th November; Agm date is 12th September while payment date is 27th September.
In another report, the management of International Breweries Plc announced that it has received approval from both Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE) on its proposed merger with Intefact Beverages Ltd and Pabod Breweries Ltd. The completion of the said merger still awaits the Federal High Court, who will convene a separate court order meetings of the merging companies. And of course it is subject to the approval of the respective shareholders of the companies.
We maintained that traders should play cautiously around the market arena. Safe Trade.
Jeariogbe Segun Tunde