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Tier 1 banks lift trading on NSE by 0.13%

The Nigerian Stock Exchange (NSE) market indices on Thursday rose by 0.13 per cent due to buying interest in Tier 1 banking stocks.

Speficially, the market capitalisation inched N15 billion or 0.13 per cent to close at N11.338 trillion against N11.323 trillion achieved on Wednesday.

Also, the All-Share Index rose by 27.99 points or 0.13 per cent to 21,757.47 in contrast with 21,729.48 on Wednesday.

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Consequently, the Month-to-Date and Year-to-Date losses moderated to -17 per cent and -18.9 per cent, respectively.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Guaranty Trust Bank, Union Bank of Nigeria, Access Bank, Cadbury and Zenith Bank.

Market breadth closed positive with 24 gainers and eight losers.

Morison Industries, United Capital and UBN led the gainers’ chart in percentage terms, gaining 10 per cent each, to close at 55k, N2.20 and N6.60 per share, respectively.

Transcorp followed with a gain 9.84 per cent to close at 64k, while Access Bank rose by 9.82 per cent to close at N6.15 per share.

Cadbury went up by 9.73 per cent to close at N6.20, while Honeywell Flour Mills appreciated by 9.64 per cent to close at 91k, per share.

Conversely, Nestlé Nigeria led the losers’ chart in percentage terms, dropping by 10 per cent, to close at N765, per share.

GlaxoSmithKline followed with a loss of 7.89 per cent to close at N3.50, while Julius Berger declined by 7.17 per cent to close at N22 per share.

Stanbic IBTC dipped 6.90 per cent to close at N24.30, while Oando shed 2.27 per cent to close at N2.15 per share.

The total volume of trade decreased by 26.36 per cent with an exchange of 172.1 million shares valued at N1.89 billion transacted in 3,542 deals.

This was against 233.47 million shares worth N2.24 billion in 3,874 deals on Wednesday.

Transactions in the shares of Zenith Bank topped the activity chart with 40.60 million shares valued at N488.84 million.

United Bank for Africa followed with 15.95 million shares worth N79.34 million, while Sterling Bank accounted for 13.19 million shares valued at N13.68 million.

FCMB Group sold 12.3 million shares worth N18.49 million, while Access Bank transacted 10.27 million shares valued at N61.16 million.


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