Markets
Sterling, Fidelity make a bull run as the NSE Banking index drops
The market ended with 3 profits, 4 losses, and 3 stalemates.
At the end of the trading session today, the NSE banking index posted a significant loss of (-3.34%) eliminating the previous gains held at (+0.94%) at 357.33 from its previous 372.79 index points.
The NSE banking index started today’s trading session trending bearish. What seemed like a market recovery met strong resistance around noon and finally trailed downwards, below the opening index point. The market ended with 3 profits, 4 losses, and 3 stalemates.
Sterling Bank led the pack with a magnificent profit of (+8.82%) showing significant support to the profit held (+4.71%) and placing the price at N1.85 from N1.78. Sterling Bank showed significant bullish momentum amidst the April 1st sell-off. As the first quarter ends, Sterling Bank seems to be a significant player to watch.
Fidelity Bank also posted a significant profit of (+7.95%) adding momentum to the (+2.58%) held in the previous trading session, putting the price at N2.58.
Access Bank made a slight recovery from its loss of (-3.61%) held at the previous trading session to post gains of (+1.25%) putting the price at N8.10.
Union Bank posted a significant loss of (-4.72%) putting the price at N5.05 from N5.20.
Zenith Bank was not saved from the sell-off on the 1st of April and it made a (-2.00%) loss, holding price at N22.10 from N22.50.
EcoBank eliminated its previous day profit of (+0.99%) with a loss of (-0.99&) putting the price at N5.05.
Guarantee Trust Bank was not left out from the Bears’ claws as they dropped (-0.66%) to put the price at N29.95.
Jaiz Bank, UBA, and Wema Bank all held Stalemate posting prices of N0.63, N7.05, and N0.57 respectively.
Outlook
- Market sentiment trends toward consolidations as three companies in the NSE banking index make profits as opposed to three stalemates and four losses, at the end of the trading session.
- Nairametrics counsels cautious buying amidst growing uncertainties in Nigeria.
Markets
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.
Markets
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.
Outlook
- 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.
