Profit taking in bellwethers - Guaranty Trust Bank (GTBank), Seplat and Access Bank dragged the Nigerian Stock Exchange (NSE) benchmark index 15bps lower to 32,413.9 points. 

The bearish run caused the Year-to-date performance fell to 3.1% while market capitalisation declined by N18 billion to N12.1 trillion. Market activity level also declined as volume and value traded fell 19.0% and 47.2% to N4.2 billion and N470.3 million respectively. 

Here are 7 things you need to know before the opening of stock on Thursday:

  • The Board of International Breweries Plc has appointed Richard Rivett-Carnac as a Non-Executive Director of the Company. Rivett-Carnac is the Mergers and Acquisitions/Treasury Director for AB InBev Africa, based in Johannesburg, South Africa. 
  • NSE to launch mutual funds trading platform

The Nigerian Stock Exchange (NSE) will launch the Mutual Funds platform to improve and enhance access of listed mutual funds to investors next week Friday, February 22, 2019.

The overarching goal, according to a statement on the stock exchange website, is to enhance visibility for the listed funds and promote financial inclusion while stimulating retail investor participation in our market

  • Sterling Bank board of directors to meet February 26, 2018 to consider 2018 audited financial statements.

It has also closed trading of its shares from February 11, 2018.

The Nigerian Stock Market
The Nigerian Stock Market
  • For investors on Newrest ASL Nigeria Plc, the company has announced a final dividend of 22 kobo per 50 kobo ordinary share for period ended December 31, 2018. 

The company will hold its AGM on May 16, 2019.

  • NSE to celebrate International Women's Day by hosting a half-day seminar including 'Ring the Bell' for gender equality.
  • The Nigerian naira lost N1 to the dollar at the parallel market closing at N362 on Wednesday.
  • Analysts expect to see sustained profit taking in the last two sessions before the election.