Nigerian stock market daily report: Banking index slips into loss YTD as market continues falling

The banking index slipped into year-to-date loss at the end of trading on Thursday, as the market continued falling under sell pressures across board.

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At the end of trading on Thursday, the banking index lost 2.33%, on week-to-date basis it has lost 8.09% and lost 0.06% year-to-date.

The Nigerian Exchange’s equities market continued its fall on Thursday after a reprieve that saw the market close flat on Wednesday.

The benchmark All-Share Index (NGX ASI) declined by 0.86% on Thursday to close at 101,227.67 points, with year-to-date gains moderating to 35.38%. Weak

The market capitalization also lost 0.86% of its value, shedding ₦481 billion to close at ₦55.390 trillion.

Activity Level

The activity level improved on Thursday as all of volume, value of shares traded and the number of deals increased.

The volume of shares and value of shares traded increased by 39.89% and 11.98% respectively, while the number of deals done also increased by 13.37%.

By the end of trading, 341.92 million shares valued at ₦6.40 billion had exchanged hands in 9,665 deals.

Shares of Universal Insurance Plc (NGX: UNIVINSURE), Transnational Corporation Plc (NGX: TRANSCORP), and Zenith Bank Plc (NGX: ZENITHBANK) were the most traded stocks by volume with 42.76 million, 41.53 million and 31.74 million shares respectively.

Shares of Zenith Bank Plc (NGX: ZENITHBANK), United Bank for Africa Plc (NGX: UBA) and Access Holdings Plc (NGX: ACCESSCORP) were the most traded by value, with their shares worth ₦1.12 billion, ₦741.69 million and ₦729.39 million respectively exchanging hands.

Top gainers and losers

In the day’s trading session, 7 stocks advanced against 53 decliners.

The top five gainers were;

1. Meyer Plc  (NGX: MEYER): It gained 9.97% to close at ₦6.29.
2. Juli Plc (NGX: JULI): It gained 9.52% to close at ₦0.92.
3. Tantalizer Plc (NGX: TANTALIZER): It gained 4.76% to close at ₦0.44.
4. Red Star Express Plc (NGX: REDSTAREX): It gained 4.05% to close at ₦4.05.
5. Lasaco Assurance Plc (NGX: LASACO): It gained 3.54% to close at ₦2.63.

The top five losers were;

1. NASCON Allied Industries Plc (NGX: NASCON): It lost 10% to close at ₦58.50.
2. Unity Bank Plc (NGX: UNITYBNK): It lost 10% to close at ₦2.52.
3. Consolidated Hallmark Holdings Plc (NGX: CONHALLPLC): It lost 10% to close at ₦1.44.
4. Sterling Financial Holdings Company Plc (NGX: STERLINGNG): It lost 10% to close at ₦5.31.
5. Eterna Plc (NGX: ETERNA): It gained 9.95% to close at  ₦19.90.

All the five indices under our watch closed negatively.

1. Banking Index: The index lost 2.33% to close at 896.67 points (YTD: -0.06%).
2. Industrial Index: The industrial index lost 0.30% to close at 5,429.72 points (YTD: +100.19%).
3. Consumer Goods Index: The index lost 1.90% to 1,467.70 points (YTD: +30.89%).
4. Oil & Gas Index: It lost 0.49% to close at 1,245.49 points (YTD: +19.41%).
5. Insurance Index: The index lost 4.19% to close at 400.71 points (YTD: +24.58%).

Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur