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Banking Stocks stop the raging bulls at the Nigerian Stock Market index down 0.01%

Banking Stocks stop the raging bulls at the Nigerian Stock Market index down 0.01%

 

The Nigerian Stock Market opened the week on a flat note, with the All Share Index falling minimally by -0.01% to close at 22,920.41 points. 

Market turnover however remained strong, as total volume and value rose by 49.15% and 61.20% to close at 345.43 million units of shares, valued at N4.208 billion in 4,930 deals.  

First Bank Nigeria Holdings was the most traded stock by volume at 115.32 million units, followed by Guaranty Trust Bank with 65.66 million units of trades.  

 

Market breadth index was negative, with GUINNESS (-9.40%) leading 16 losers, as against 14 gainers topped by JBERGER (10.00%).  

 

Performance across sectors closed mixed, as two of the five indices under coverage declined, while three advanced.   

 
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Bulls and stock market

The Industrial sector improved by 4.80% on the back of price appreciation in JBERGER (+10.00%), and BUACEMENT (+8.40%). Gains in NB (+6.65%) and NESTLE (+0.83%) spurred a +1.19 % increase in the Industrial sector, as AIICO (+5.00%) advanced the Insurance index by 1.11%.   

Conversely, the Banking and the Oil & Gas Indices declined by -4.01% and -0.45%, fueled by losses in ZENITHBANK (-5.67%), UBN (-4.55%), and OANDO (-4.58%) respectively.  

 

Top gainers 

JBERGER up 10.00% to close at N26.95BUACEMENT up 8.48% to close at N34.55NB up 6.65% to close at N34.5MTNN up 3.63% to close at N100; and NESTLE up 0.83% to close at N975.  

Top Losers 

 
 

GUINNESS down 9.38% to close at N22.4PZ down 9.09% to close at N4; ZENITHBANK down 5.67% to close at N15; ACCESS down 4.48% to close at N6.4; and GUARANTY down 4.33% to close at N20.8.  

source:- https://nairametrics.com/2020/04/20/banking-stocks-stop-the-raging-bulls-at-the-nigerian-stock-market-index-down-0-01/