Business Latest

NSE: Bear run continues amidst profit-taking in bank stocks

The downturn in the Nigerian equity market continued on Monday, with sell pressure on heavyweight bank stocks, comprising Access Bank, Zenith, UBA, FBN Holdings and GTB accounting primarily for the N8.926 billion loss.

That made the Banking Index the day’s worst performer of all the sectorial indices as it went down from 4.72% to 390.03 basis points.

47 losers were recorded compared to 4 gainers, causing the market to close with a positive breadth.

The All Share Index (ASI) dipped by 0.04% to close at 34,121.78 basis points. Market capitalisation leapt to N17.830 trillion at the end of today’s session.

Year to date, the index is up 27.12%.

TOP 5 GAINERS

Airtel Africa led gainers, appreciating by 5% to close at N525. BUA Cement grew by 4.77% to end today’s trade at N56. Dangote Cement went up by 3.42% to N199.80. NEM rose to N2.60, notching up 0.78% in the process.

READ ALSO: NSE: Investors lose N265bn amid sell pressure on large-cap stocks

TOP 5 LOSERS

Livestock topped the losers’ chart today declining by 10% to close at N1.26. Ardova shed 10% to end today’s trade at N13.50. Custodian fell to N5.85, losing 10% in the process. Transcorp slumped to N0.90, recording 10% depreciation. Chams closed at N22.05, going down by 10%.

TOP 5 TRADES

568.037 million shares estimated at N7.326 billion were traded today in 8,928 deals.

Zenith was the most active stock with 79.741 million of its stocks worth N1.913 billion traded in 1100 deals. 72.749 million units of FBN Holdings shares priced at N499.577 million exchanged hands in 589 transactions. Access Bank had 65.741 million shares valued at N520.344 million traded in 662 deals. UBA traded 46.969 million shares estimated at N360.036 million in 583 transactions. GTB traded 37.097 million shares valued at N1.266 billion in 567 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

/* ]]> */