11 Banking Stocks Decline as Index Improves

Skye Bank Plc, Unity Bank Plc, FCMB Group Plc and Access Bank Plc topped the losers’ table after the close of trading at the Nigerian Stock Exchange on Thursday.

Seven other banks also shed part of their share values, among other losers at the Exchange. The share prices of 30 firms depreciated on Thursday.

A total of 166.390 million shares worth N1.657bn were traded in 2,917 deals.

However, the NSE market capitalisation struggled to close at N9.377tn from N9.347tn, while the All-Share Index grew to 27,266.18 basis points from 27,180.76 basis points recorded on Wednesday.

The highest index point recorded in the course of trading was 28,642.25 basis points, while the lowest and average index points were 27,180.76 and 27,912.33 basis points, respectively.

Skye Bank’s share price lost N0.12 (8.82 per cent) to close at N1.24, while Unity Bank share value closed at N0.93 from N1.02, losing N0.09 (8.82 per cent.

FCMB Group also lost N0.08 (five per cent) of its share value to close at N1.52, while Access Bank lost N0.24 (4.98 per cent) to close at N4.58 from N4.82.

Airline Services and Logistics Plc, which emerged fifth on the losers’ table, shed N0.11 (4.98 per cent) to close at N2.10 from N2.21 per share.

Other losers on Thursday were Dangote Sugar Refinery Plc, Red Star Express Plc, Oando Plc, Ikeja Hotel Plc, Union Bank Nigeria Plc, United Bank for Africa Plc, Diamond Bank Plc, Tiger Branded Consumer Goods Plc, Fidelity Bank Plc, Transnational Corporation of Nigeria Plc, McNichols Plc, Thomas Wyatt Nigeria Plc, and Continental Reinsurance Plc.

Seplat Petroleum Development Company Plc, Zenith Bank Plc, Vitafoam Nigeria Plc, Nigerian Breweries Plc, Honeywell Flour Mill Plc, Trans-nationwide Express Plc, United Capital Plc, 7UP Bottling Company Plc, Africa Prudential Registrars Plc, UAC Plc, FBN Holdings Plc, and Guaranty Trust Bank Plc also emerged losers at the Exchange.

Only six stocks recorded price appreciation at the close of trading on Thursday. The companies are: E-Tranzact International Plc, Okomu Oil Palm Plc, Dangote Cement Plc, Fidson Healthcare Plc, Learn Africa Plc and Vono Products Plc.

E-Tranzact gained N0.15 (4.93 per cent) to close at N3.19 from N3.04, while Okomu Oil Palm appreciated by N1.52 (4.83 per cent) to close at N33.

Dangote Cement rose by N6.55 (4.27 per cent) to close at N159.98 from N153.43 per share, while Fidson Healthcare gained N0.11 (4.25 per cent) to close at N2.70 per share.

Learn Africa saw a N0.03 (3.90 per cent) appreciation to close at N0.80 per share, while Vono Products grew by N0.03 (3.37 per cent) to close at N0.92 per share.