Banking Sector most hit as Continental Reinsurance leads other stocks to drag NSEASI 0.12% lower

Six banks ended red as against Three in the green category on the first working day of the week as NSEASI shed 50.96 points on Monday, rounding up at 40,763.93 points, which is 0.12% below the previous 40,814.89 points.

Trading activities slowed down on the first trading day of the week leaving most of the major bank’s stocks in the decliners’ zone, with loss in Continental Reinsurance and Flourmills playing a major force to drag the market to a negative close.
The turnover volume grew by118.84% while value grew also by156.72% above the previous trading session to settle at 530. 221 million units of shares and N7.7 billion respectively.

Market Breadth
Market closed in a negative round up as 19 stocks closed positive against 24 negative.

Percentage Gainers

Investors’ sentiment were largely bullish in LEARAFRICA as the stocks top the percentage gainers advancing by 9.17% to close at N1.31, followed by TRANSCORP which closed 7.98% above the previousN1.63 to stand at N1.76 Other advancers includes GLAXOSMITH, NEM,and AFRIPRUD among other 19 stocks that closed positive at the end of trades on Monday.

Percentage Losers

CONTINSURE topped the percentage loser’s chart losing 5.14% of its share price to close at N1.66, away from the previous close of N1.75
Other tickers in this category are; UNITY BANK , FLOURMILLS, JAIZBANK among others lossers.

ZENITHBANK emerged as our stock of the day, having commanded investors’ attractions in373 deals, 76.6 million units of share volume and valued at about N2.1 billion.

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