NSE: Bank stocks dominate trade as bull run continues | Ripples Nigeria
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NSE: Bank stocks dominate trade as bull run continues



The bull run entered its fifth day Wednesday in the Nigerian bourse, primarily driven by bargain hunters’ preference for blue-chip equities in the industrial, banking, and consumer goods sectors.

The Insurance Index was worst hit by price slump among the sector indices as it shed 0.50% to close at 117.08 basis points

Trade ended with a positive market breath as 28 gainers emerged against 11 losers. The All Share Index (ASI) expanded by 3.02% to close at 22,539.94 basis points. Equally, the market capitalisation climbed appreciated by N343.957 billion, rising to N11.747 trillion at the end of today’s trade. Year to date, the index is down by 16.03.


Neimeth led gainers today, growing by 10% to close at N0.55. Champion Breweries rose by 10% to close at N0.88. Dangote Cement went up by 10% to N133.10. Oando leapt to N2.90, notching up 9.85% in the process. Nigerian Breweries completed the top 5, climbing up by 9.84% to N26.80.


Arbico topped the losers’ table today, declining by 9.82% to close at N2.57. Wema shrank by 9.68% to end the day at N0.56. Cutix fell to N1.20, losing 9.09%. AIICO slumped to N0.80, recording 4.76% loss. Union Bank tumbled to N6.20, going down by 4.62%.

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Investors staked N3.339 billion on 326.444 million shares in 5,166 transactions today.

FBN Holdings was the most preferred stocks today with 74.758 million units of its stocks worth N354.240 million traded in 548 deals. 72.101 million units of Zenith Bank shares priced at N1.097 million exchanged hands in 877 transactions. GTB had 36.769 million shares valued at N793.963 million traded in 580 deals. UBA traded 22.917 million shares estimated at N145.822 billion in 260 transactions. UBA traded 19.176 million shares valued at N32.253 million in 139 deals.

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