Banking stocks losses dip market further by 0.3 per cent

Negative sentiments persist as the All Share Index (ASI) of the Nigerian Stock Exchange (NSE) further dips by 0.28 per cent at the close of trading activity at the local bourse on Wednesday.

The bears continued to dominate at the Exchange as selloffs in major Banking stocks persisted. Market capitalisation depreciated to N13.36 trillion after losing N36.78 billion. Thus the Month-to-Date gain moderated to 0.4 per cent while Year-to-Date loss increased to -5.3 per cent.

Specifically, Zenith Bank Plc and Access Bank Plc shares shed three per cent each just as the share value of United Bank for Africa Plc depreciated 3.2 per cent.

Overall performance review for the day indicated that the Exchange had seven gainers as against 23 losers on Wednesday.

Similarly, performance across sub-sector gauges tracked closed in red aside for the NSE Industrial index which rose by 0.05 per cent. The NSE Banking led the laggards by 1.54 per cent, followed by the NSE Insurance, NSE Consumer Goods and NSE Industrial indices by 0.39 per cent, 0.19 per cent and 0.11 per cent respectively.

The total volume traded increased by 7.0 per cent to 269.63 million units, valued at N2.87 billion and exchanged in 4,155 deals, with Zenith Bank recording the most traded stock by volume at 35.84 million units while Guaranty Trust Bank was the most traded stock by value at N605.14 million.

YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE

What I Told Trump About Christian Massacre Allegation ― Buhari
President Muhammadu Buhari, on Tuesday, revealed his response to President Donald Trump over the American leader’s allegation that the Nigerian government was slaughtering Christians, telling him that the problem between cattle testers and farmers was a cultural thing rather than ethnicity or religion…

Banking stocks losses

COMMENTARY: Four Reasons It’s Stupid To Compare Nigeria’s Petrol Prices With Other Countries, By Farooq Kperogi
In trying to justify Buhari’s latest callous hike in the price of petrol (amid a pandemic, no less), Buhari’s supporters increasingly sound like noisome idiots straining hard to be low-grade morons. Here are four reasons it’s stupid to compare Nigeria’s petrol prices with others…

Banking stocks losses

You might also like
Comments

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. AcceptRead More