At the end of the trading session today, the NSE banking index posted a loss of (-0.84) which disrupted the bullish momentum (+0.94%) held in the previous trading session on Tuesday and put the index point at 369.67 from its previous 372.79 index points.
The NSE banking index started today’s trading session with a bearish momentum posting a loss at the end of the trading session. The market ended with 4 profits and 6 losses.
Sterling Bank topped the gainer in the NSE banking index, posting a profit of (+4.71%) which was in support of the previous day’s profit of (+1.80%) placing the price at N1.78 from N1.68. Jaiz Bank recovered from the previous day’s loss of (-1.56%) to post profit of (+3.17%) at the end of the trading session today. Jaiz Bank showed a positive momentum as profits pushed prices up from N0.63 to N0.65.
Fidelity Bank posted a profit of (+2.58%) as opposed to the previous day’s loss of (-2.92%) placing the price at N2.39 from N2.34. Ecobank reverted some of its (-4.72%) loss with slight gains of (+0.99%).
Wema Bank trended downwards with a loss of (-8.06 %) finally picking an aggressive bear after the stalemate held in the previous trading session to settle its price at N0. 60 from N0.62. Access bank also posted a loss of (-3.61%), supporting the previous loss of (-1.81%), putting the price at 7.95 from N8.15.
UBA reduced close to half of the previous day’s profit of (+4.5%), posting a loss of (-2.08%) held in today’s trading session to settle its price at N7.05 from 7.20. GTB also made a loss of (-0.45%), which cancelled out the previous profit of (+0.30%), putting the price at N32.85 from N33.00.
Union Bank posted a loss of (-1.89%) trending downwards from the previous trading session’s stalemate dropping the price from N5.30 to N5.20. Zenith Bank posted a loss of (-0.22) opposing the profit of (+2.49%) held the previous day putting the price at N22.50 from N22.60.
Outlook
- Market sentiment trends toward the bears as four companies in the NSE banking index made profit as opposed to six losses, at the end of the trading session.
- Nairametrics counsels cautious buying amidst growing uncertainties in Nigeria.
