Banking Sector most hit as Dancem, NB drags NSEASI 1.12% lower


The loss recorded in NSE Banking sector at 1.14% visibly outpaced the overall market loss, as the All-Share Index shed 487.16 points on Thursday, rounding up at 42,843.38 points, which is 1.12% below the previous 43,330.54 points.

Trading activities slowed down on the first trading day of the month March 2018, leaving most of the major bank’s stocks in the decliners’ zone, with loss in Dangote Cement and Nigerian Breweries playing a major force to drag the market to a negative close.

The turnover volume dropped by 35% to 371.245units of shares traded in 4,570 deals, valued at N4.8billion. These were lower records compared with the last trading session’s records.

Market breadth

Investors’ sentiment were largely bullish in Japauloil as the stocks top the percentage gainers advancing by7.41% to close at 58kobo, followed by FirstAllum which closed 4.65% above the previous 43kobo to stand at 45kobo. Other advancers includes continental Insure, Jaiz Bank,Nascon and Cuitix among others as 29 stocks closed positive at the end of trades on Thursday.

percentage gainers

On the other hand, FTN Cocoa topped the percentage loser’s chart losing 5% of its share price to close at 38kobo, away from the previous close of 40kobo.

Other tickers in this category are; Vitafoam, Dunlop, sovereninsue , cornerstone among others.

percentage losers

Guaranty emerged as our stock of the day, though declined by 2.04% in the day but command most frequently investors’ attractions in deals, volume and value. The stock traded about 31million units of shares in 329 deals, valued at about N1.5billion in the day.



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