Connect with us

Money Market

NSE index down by 0.38% as banking stocks fail to show



NSE market indices sustain growth on impressive Q1 earnings

The financial sector was in bearish mode on the first trading day of the week forcing the All Share Index of the Nigerian Stock Exchange to close in the negative.

While the banking sector shares were the most traded on Monday, their impact only saw the ALSI headed southwards by 0.38 percent .

Nigerian Breweries Plc was the biggest loser of the day having shed N6.25 to close at N118.75 which represents 5 percent loss.

Stanbic Plc shrank by 4.49 percent loosing 80 kobo to close the day at N17, while NASCON stocks closed at N7.03 with a loss of 37 kobo and percentage loss of -5 to make the top three.

On advancing side, Seplat Oil closed with N380 and a percentage increase of 1.33 having gained N5 above the last price. Betaglass Plc gained N1.65 by moving from N33.07 from last week to N34.72.

Dangote Cement continued a smooth run upward as the shares grew by 90 kobo from N167.11 to N168.01. That leaves us with 0.54 percentage increase.

A total of 26 million GTB shares valued at about N630.20 million were traded. This is closely followed by UBA trading 25.85 million shares with a value of N124 million.

Etranzact traded 20.43 million shares with the value put at N102.18 million. Fidelity Bank had 14.70 shares traded and the value is put at N12.44 million. FBN Holdings had 9.87 million shares sold at N31.3 on the first working day of the week.

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective.A unique organization, founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favour.The Verge Communications is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.