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Bank stocks help NSE index end three-day slide

By on June 13, 2015

The equities segment of the Nigerian Stock Exchange closed higher on Thursday after 16 stocks recorded price appreciation, eight of which were bank shares.

Although 24 other stocks recorded price depreciation, Thursday’s gains were enough to lift the NSE All-Share Index by 0.28 per cent or 94.01 basis points from 33,462.34 basis points to 33,556.35 basis points.

In the same vein, the market capitalisation of the listed equities appreciated by N32bn or 0.28 per cent from N11.422tn to N11.454tn.

Also, the NSE 30 Index rose by 0.42 per cent from 1,525.72 basis points to 1,532.17 basis points, while the NSE Banking Index advanced by 1.09 per cent from 366.95 basis points to 370.94 basis points.

The banking sub-sector led the activity chart, accounting for 36.67 per cent of the 154.088 million stocks valued at N4.044bn, which were traded in 3,515 deals on Thursday.

In the sub-sector, investors exchanged 56.511 million stocks worth N545.6m in 1,299 deals with United Bank for Africa Plc, Access Bank Plc and Zenith Bank Plc driving volume.

Of the bank and bank-related stocks that appreciated on Thursday, Sterling Bank Plc gained the most, rising 4.50 per cent or nine kobo to close at N2.09 per share.

Zenith Bank Plc and Fidelity Bank Plc appreciated by 3.54 per cent and 2.26 per cent to close at N19.88 and N1.81 per share, while Skye Bank Plc and Access Bank Plc were up by 1.60 per cent and 0.83 per cent to close at N2.54 and N6.10 per share, respectively.

Guaranty Trust Bank Plc edged up by 0.38 per cent to N26.60 per share, while FCMB Group Plc and FBN Holdings Plc rose by 0.33 per cent and 0.22 per cent to close at N3.07 and N8.92 per share in that order.

PZ Cussons Nigeria Plc, which rose by 8.73 or N2.81 to close at N35 per share, was, however, the day’s biggest gainer.

Other big gainers that boosted the NSE index include Okomu Oil Plc, which gained 4.73 per cent or N1.45 to close at N32.10 per share, and Nigerian Breweries Plc with a 1.53 per cent or N2.26 share price appreciation that helped it to close at N150.16 per share.

Neslte Nigeria Plc was also among the gainers, rising by 0.18 per cent or N1.51 to close at N857.51 per share.

Red Star Express Plc led the losers, shedding 4.90 per cent or 25 kobo to close at N4.85 per share.

 

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