Gains in the banking sector leaves the market breadth positive , despite 0.04% market drop.

The All Share Index of the Nigeria Stock Exchange closed on Wednesday  with a marginal decline of 0.04% from the close of previous day of 40,788.68 points to settle at 40,772.26  points.The market capitalization closed at 14.727 trillion as against 14.733 trillion of the previous trading session, shedding about N6 billion, implying a decline of 0.04%.

Trading activities compared to the last trading session declined significantly as volume and value traded dropped 85.66% and 60.44% to settle at 229.840 million units and N4.316 billion respectively.

Market Breadth

However, banking stocks dominated the gainers chart, as JAIZBANK, SKYE BANK, STERLING BANK and UNITY BANK helped to keep the market breadth positive as 24 stocks against 18 stocks closed positive but was  not enough to keep the bourse in the green.

          Percentage Gainers

JAZIBANK, OANDO and SKYEBANK grew 10%, 9.70% and 5.21% respectively to lead a banking sector dominated percentage gainers chart. Also on the chart are STERLINBANK, FIDSON and UNITYBANK which gained 4.94%, 4.72% and 4.72% respectively ahead of stocks like JULIUS BERGER, JAPAUL OIL and C&L LEASING.

            Percentage Losers

Union Bank tops the losers’ chart losing 4.76% of its share price, so also Sovrenins, and Hmarkins lost 4.35% and 3.57% in that order.

Guaranty is the most actively traded stocks of the day trading about  14.9 million units of its shares in 167 deals, worth about N2.9 billion.

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