Business Latest

NSE: Banking Index worst hit as market closes in negative territory

The Nigerian stock market slid into loss Thursday after recording modest gain in the previous session due to profit taking actions in some mid-cap and large-cap stocks.

Depreciation in many bank stocks contributed significantly to the negative shift, causing the Banking Index to go down by 4.58%, the worst performance of the five sectors assessed.

The market ended with a negative market breadth as 28 losers emerged against 7 gainers.

The All Share Index (ASI) fell by 0.90% to close at 24,374.40 basis points. Consequently, Market Capitalisation shed N115.073 billion as it declined to N12.715 trillion at the end of trade.

Year to date, the index is down by 9.19%.

TOP 5 GAINERS

Neimeth led gainers, appreciating by 9.40% to close at N1.63. Jaiz Bank grew by 7.27% to end today’s trade at N0.59. Unity Bank went up by 6.38% to N0.50. NAHCO rose to N2.10, notching up 5.53% in the process. Red Star Express completed the top 5, climbing up by 4.76% to N3.30.

READ ALSO: NSE: Market rallies on the back of higher demand for industrial stocks

TOP 5 LOSERS

Capital Hotel topped the losers’ chart today declining by 10% to close at N2.43. GSK shed 10% to end today’s trade at N4.95. Champion Breweries fell to N13.80, losing 9.80% in the process. C&I Leasing slumped to N4.15, recording 9.78% depreciation. Sterling closed at N1.24, going down by 9.49%.

TOP 5 TRADES

180.122 million shares estimated at N1.847 billion were traded today in 3,889 deals.

UBA was the most active stock with 23.928 million of its stocks worth N153.170 Million traded in 142 deals. 21.569 million units of FBN Holdings shares priced at N110.470 million exchanged hands in 198 transactions. GTB had 21.095 million shares valued at N446.003 million traded in 341 deals. Transcorp traded 16.815 million shares estimated at N10.432 million in 108 transactions. Zenith Bank traded 15.539 million shares valued at N236.467 million in 639 deals.

Join the conversation

Opinions

About the author

Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
www.ripplesnigeria.com

Do NOT follow this link or you will be banned from the site!