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NSE: Bellwether bank stocks dominate losers as market closes in the negative



Profit-taking in heavyweight bank stocks sustained the current downturn in the stock market today, causing as much as N13 billion depreciation in the total value of stocks on the exchange. The market capitalisation has been on a free fall for days on end and, so far this year, investors have lost an whopping N1.389 trillion.

A negative market breadth was recorded today as there were 13 losers compared to 12 gainers.

The All Share Index (ASI) shrank by 0.08% to close at 27,547.56 basis points. Market Capitalisation fell to N14.347 trillion at the end of today’s trade. Year to date, the index is down by 2.63%.


In value terms, Stanbic led advancers, appreciating by 1.32% to close at N38.5. C & I Leasing added up 7.41% to end today’s trade at N5.8. UAC-Property went up by 10% to N0.99. UCAP advanced to N2.93, notching up 1.74% in the process. Eterna Oil completed the top 5, climbing by 2.38% to close at N2.15.


GTB was the worst performing stock today, declining by 0.52% to close at N28.85. UBA shed 1.95% to close at N7.55. FBN Holdings fell to N5.8, losing 2.52%. Vitafoam dipped to N4.55, recording 3.19% depreciation. Zenith Bank closed at N19.5, going down by 0.51%.

READ ALSO: Inflation rate hits 21-month high, now 12.13%


168.074 million shares estimated at N2.157 billion were traded today in 3,075 deals.

Zenith Bank was the most active stock today with 48.985 million units of its stocks worth N953.244 billion traded in 522 deals. 17.066 million units of GTB shares priced at N494.848 million exchanged hands in 186 transactions. UCAP had 15.367 million shares valued at N45.698 million traded in 172 deals. Access Bank traded 12.830 million shares estimated at N124.427 million in 159 transactions. FBN Holdings traded 10.311 million shares valued at N60.393 million in 270 deals.

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