Nigerian Exchange Limited
Investors Continue to Show Interest in Banking Stocks Despite Decline
Nigerian Stock market extended decline on Tuesday as weak sentiment continues.
Banking stocks remained attractive to investors in the Nigerian Exchange Limited (NGX) on Tuesday despite the continued decline across the board.
Activity at the Exchange drop substantially as investors exchanged 183,255,994 shares worth N2.475 billion in 3,779 deals, against 1,280,473,135 shares valued at N7.919 billion that exchanged hands on Monday.
Market value of listed equities extended decline to N25.514 trillion, representing a decline of N47 billion. The NGX All-Share index dipped by 0.19% to 47,340.86 index points.
Breaking down each sector, the banking sector dropped 9 basis points on depreciation in Unity Bank, Jaiz Bank, United Bank for Africa and Zenith Bank. There gainers were Fidelity Bank, Access Bank and Sterling Bank.
Oil and gas also declined by 159bps on 3.03% depreciation in value of Seplat despite 4.17% and 0.59% gain posted by Eterna and Oando, respectively.
Consumer goods index expanded by 17bps as stocks of Unilever, Intbrew and Flour Mill closed with 3.85%. 0.99% and 0.79% gaines. Honey Flour and NB were the two losers.
The NGX Industrial inched slightly up by 1bp on WAPCO (+0.21%). The year-to-date decline moderated to 10.83%. See the details of losers and gainers below.
Top Gainers
| Symbols | Last Close | Current | Change | %Change |
|---|---|---|---|---|
| VERITASKAP | N 0.21 | N 0.22 | 0.01 | 4.76 % |
| CHAMS | N 0.22 | N 0.23 | 0.01 | 4.55 % |
| ETERNA | N 5.04 | N 5.25 | 0.21 | 4.17 % |
| UNILEVER | N 13.00 | N 13.50 | 0.50 | 3.85 % |
| ROYALEX | N 1.09 | N 1.13 | 0.04 | 3.67 % |
Top Losers
| Symbols | Last Close | Current | Change | %Change |
|---|---|---|---|---|
| CORNERST | N 0.68 | N 0.62 | -0.06 | -8.82 % |
| MULTIVERSE | N 0.24 | N 0.22 | -0.02 | -8.33 % |
| SCOA | N 2.60 | N 2.40 | -0.20 | -7.69 % |
| PRESTIGE | N 0.49 | N 0.46 | -0.03 | -6.12 % |
| JAPAULGOLD | N 0.35 | N 0.33 | -0.02 | -5.71 % |
Top Trades
| Symbols | Volume | Value |
|---|---|---|
| UBA | 23412240.00 | 200202900.60 |
| ACCESS | 10434434.00 | 108914157.85 |
| FBNH | 10167463.00 | 117630760.15 |
| UACN | 9688876.00 | 104443070.30 |
| ZENITHBANK | 9641078.00 | 259636200.60 |