Banking stocks lay anchor on the shaky waters of Nigerian stock market

The Nigerian bourse closed the day’s trading in the positive, as the All Share Index and Market Capitalization rose by +0.57%, to close the week at 22,599.38 index points and N11.777 trillion respectively.

Activity level was mixed, with volume traded increasing mildly by 5.04% to 211.62 million units of shares, while value traded dropped by -33.47% to N2.234 billion, in 3,957 deals.

Guaranty Trust Bank shares were the most active to boost market turnover and value list.

Performance across sectors was bearish, except for the Banking index, buoyed by +1.22%, as UBN (+4.62%) and GUARANTY (+2.12%) gained.

On the flip side, the Industrial, Insurance, and Consumer Goods indices shed points, dropping by -0.56%, -0.40%, and -0.29% respectively, as Dangote Cement, Wapic Insurance, and UACN Plc ended the week in the red, while the Insurance Index remained unchanged.

Top gainers

UPDCREIT up 9.68% to close at N3.4; CADBURY up 7.97% to close at N7.45; UBN up 4.62% to close at N6.8; MTNN up 4.00% to close at N104; and GUARANTY up 2.12%  to close at N19.3.

Top losers 

CAP down 9.91% to close at N20.9; CILEASING down 8.93%  to close at N5.1; UACN down 8.15% to close at N6.2; INTBREW down 4.00% to close at N4.8; DANGCEM down 1.14%  to close at N130.

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