At the end of the trading session today, the NSE banking posted a profit of (+0.60%) as opposed to (-0.21%) held in the previous trading section settling at 360.16 from its previous 358.01 index points.
The NSE banking started today’s trading session with consolidations, plummeted downwards sometime around noon, then made a V-shape recovery to post a profit at the end of the trading session. The market ended with 6 profits, 1 loss, and 3 stalemates.
Sterling Bank emerged as the top gainer again for the second time this week, with a significant profit of (+9.09%) to continue the momentum made the previous day of (+3.36%), to settle the price at N1.68 at the end of the trading session today.
READ: 2020 Audited Results: Ecobank Group posts N641.8 billion revenue
Ecobank went from the second-largest loss yesterday of (-2.68%) to recover as the second-best gainer with (+4.26%) at the end of today’s trading session, thereby putting the price at N4.95. Technical analysis shows a bull run towards the end of the trading session.
Jaiz Bank also saw some gains of (+1.56) which were less than the previous gains (+3.12%). Jaiz Bank shows a positive momentum as it profits thrice out of the four trading days this week to settle at N0.65. Fidelity Bank posted profit (+1.31%) surpassing the previous loss of (-2.55%), at the end of the trading session today to put the price at N2.30.
Access Bank recovered from the previous day’s loss of (-0.61%), to make a profit of (+1.22%), putting the price at N8.30 from N8.20. GTB also recovered from the previous day’s loss of (-0.16%) with a profit of (+0.48%), to put the price at N31.20 from N31.15. UBA posted a loss of (-0.72%) putting price at N6.80.
Union Bank made zero gains of (+0.00%) to put the price at N5.30. Also, Wema Bank saw another stalemate, holding the price at N0.60 for the second time this week. Zenith Bank posted zero profit putting the price at N22.
Outlook
- Market sentiment trends bullish as six companies in the NSE banking make profit as opposed to three stalemates and one profit, at the end of the trading session.
- Nairametrics counsels cautious buying amidst growing uncertainties in Nigeria.
