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.
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.
- 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.
Bulls enjoy slight victory at the NSE
The NSE ASI saw a bullish move supporting Wednesday’s gains and showing bullish dominance since the start of the week.
The Nigerian Stock Exchange market posted gains at the end of the trading session today, making it the fourth day of a bullish run. The All-Share Index increased by +0.01% to close at 39,131.80 from 39,128.34 index points. CUTIX made the top of the gainers list.
- Nigerian Stock Exchange market value currently stands at NGN 20.48Tr. Its Year-to-Date (YTD) returns currently stands at – 83%.
- The market closed in profit as CUTIX led 17 Gainers, and 15 Losers topped by EKOCORP with a slightly bullish movement by the NSE ASI.
- CUTIX up +7.00% to close at N2.14
- PZ up +6.93% to close at N5.40
- LINKASSURE up +5.00% to close at N0.84
- COURTVILLE up +4.35% to close at N0.24
- OANDO up +3.96% to close at N3.15
- 1. EKOCORP down -10.00% to close at N5.40
- SUNUASSUR down -9.09% to close at N0.60
- HONYFLOUR down -8.45% to close at N1.30
- SOVRENINS down -8.00% to close at N0.23
- UNITYBNK down -6.78% to close at N0.55
The NSE ASI saw a bullish move supporting Wednesday’s gains and showing bullish dominance since the start of the week. However, the following stocks are on our watchlist: PZ, Guaranty, Access bank, STANBIC, HONYFLOUR, GUINNESS and Flourmills.
- Nairametrics advises cautious participation in the stock market in this era of growing uncertainties.
The NSE Banking Index plunges as Zenith Bank dips
The NSE Banking Index trended bearish at the end of the trading session today; 5 gains were posted opposing 3 losses and 2 stalemates.
The NSE Banking Index trended bearish at the end of the trading session today; 5 gains were posted opposing 3 losses and 2 stalemates. The Index finished in the red with a loss of -0.04% pushing the Index point down to 357.76 from 357.89
UBA topped the gainers with a +2.07% increase. Technical analysis showed that UBA share price saw a noticeable upward trend from the start of the trading session pushing the price from its previous day’s close of N7.25 to N7.40.
Wema bank also posted gains of +1.75% pushing the price from the previous day’s close of N0.57 to N0.59 at today’s close of market. Wema Bank technical analysis shows a slightly correlated trend with that of UBA for today’s trading session.
EcoBank saw a +1.01% gain at the end of the trading session today. Price was moved from its previous gains of N4.95 to N5.00 showing a N0.05 increase that was sufficient enough to earn EcoBank 4th place on the gainers’ side at the end of the trading session today.
Access Bank escaped the bear’s claws with a +0.67% profit at the end of the trading session, technical analysis shows massive consolidation today before price moved from N7.50 to N7.55.
GTBank was also saved after posting a profit of 0.16% pushing the price to N31.30 from its previous N31.25.
Fidelity Bank held top spots on the losing side of today’s trading session with a noticeable decline from -1.77% pushing the price downwards from N2.26 to N2.22.
Jaiz Bank saw a noticeable bearish turn of -1.59% holding the price at N0.62 from N0.63.
Zenith Bank was next to feel the claws of the bear as it took a hit of -1.35% pushing price downwards from N2.30 to N2.00. Union Bank and Sterling Bank both saw a stalemate at the end of the trading session today to hold at N5.00 and N1.60 respectively.
- Market sentiments indicate that tomorrow might see a bullish recovery with 6 gainers being opposed to 3 losers and 3 stalemates.
- Nairametrics advises cautious participation in the market amid growing uncertainties.
Nairametrics | Company Earnings
Access our Live Feed portal for the latest company earnings as they drop.
- Dangote Cement Plc to hold AGM on May 26th
- Linkage Assurance Plc proposes N500million as final dividend for 2020, and a bonus issue on its existing shares.
- VFD Group set to raise additional capital of N9.01 billion through rights issue and private placement.
- GT Bank records a 9% dip in profit to N45.55 billion in Q1 2021.
- Secure Electronic Technology Plc records a 121% surge in Profit after tax in Q1 2021.